Global X Japan Co. Ltd. Purchases 349 Shares of AbbVie Inc. (NYSE:ABBV)

Global X Japan Co. Ltd. increased its stake in AbbVie Inc. (NYSE:ABBV) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,743 shares of the company’s stock after acquiring an additional 349 shares during the quarter. Global X Japan Co. Ltd.’s holdings in AbbVie were worth $487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. AMF Tjanstepension AB purchased a new stake in shares of AbbVie during the 3rd quarter valued at approximately $8,777,000. West Financial Advisors LLC raised its holdings in AbbVie by 16.6% during the 3rd quarter. West Financial Advisors LLC now owns 766 shares of the company’s stock valued at $151,000 after acquiring an additional 109 shares during the period. CWM LLC lifted its holdings in AbbVie by 6.7% during the 3rd quarter. CWM LLC now owns 245,019 shares of the company’s stock worth $48,386,000 after purchasing an additional 15,388 shares in the last quarter. Wedmont Private Capital boosted its stake in AbbVie by 5.0% in the 3rd quarter. Wedmont Private Capital now owns 22,168 shares of the company’s stock worth $4,292,000 after purchasing an additional 1,051 shares during the period. Finally, Adirondack Trust Co. grew its holdings in AbbVie by 1.9% during the 3rd quarter. Adirondack Trust Co. now owns 16,240 shares of the company’s stock valued at $3,207,000 after buying an additional 301 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 0.6 %

ABBV opened at $192.95 on Friday. The firm has a market capitalization of $340.96 billion, a price-to-earnings ratio of 80.39, a PEG ratio of 1.84 and a beta of 0.58. The business has a 50 day simple moving average of $177.19 and a two-hundred day simple moving average of $185.43. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the company earned $2.79 earnings per share. Analysts predict that AbbVie Inc. will post 12.26 EPS for the current year.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABBV. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Raymond James reiterated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday. Citigroup upped their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday. Finally, BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday. 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 stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Company Profile

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.