Burford Brothers Inc. Buys New Stake in AbbVie Inc. (NYSE:ABBV)

Burford Brothers Inc. purchased a new stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) during the fourth quarter, HoldingsChannel reports. The fund purchased 10,453 shares of the company’s stock, valued at approximately $1,620,000. AbbVie accounts for approximately 1.1% of Burford Brothers Inc.’s portfolio, making the stock its 20th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares during the period. Capital International Investors lifted its holdings in shares of AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after acquiring an additional 2,542,463 shares during the last quarter. Morgan Stanley boosted its stake in shares of AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after purchasing an additional 914,485 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares during the last quarter. Finally, Northern Trust Corp raised its position in AbbVie by 2.3% in the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after purchasing an additional 491,391 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.4 %

Shares of ABBV traded up $2.41 during mid-day trading on Friday, hitting $168.97. The company’s stock had a trading volume of 2,332,883 shares, compared to its average volume of 5,460,345. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company’s 50-day moving average is $163.59 and its 200-day moving average is $165.40. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The firm has a market capitalization of $298.38 billion, a price-to-earnings ratio of 49.83, a PEG ratio of 2.13 and a beta of 0.60.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets cut their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, Cantor Fitzgerald started coverage on shares of AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective for the company. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.21.

View Our Latest Stock Analysis on ABBV

AbbVie Profile

(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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