Sivik Global Healthcare LLC Buys New Stake in AbbVie Inc. (NYSE:ABBV)

Sivik Global Healthcare LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBVFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the company’s stock, valued at approximately $4,443,000. AbbVie makes up 2.3% of Sivik Global Healthcare LLC’s portfolio, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth $999,000. Saturna Capital Corp raised its holdings in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares during the last quarter. Everence Capital Management Inc. raised its holdings in shares of AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC grew its holdings in shares of AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock opened at $175.54 on Friday. The firm has a market capitalization of $310.21 billion, a PE ratio of 60.95, a P/E/G ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm’s 50-day simple moving average is $176.37 and its 200 day simple moving average is $184.90. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the business earned $2.95 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ABBV. Wells Fargo & Company increased their price objective on AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Citigroup decreased their price target on AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a report on Tuesday. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Finally, BMO Capital Markets dropped their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

View Our Latest Report on ABBV

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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