Generate Investment Management Ltd Acquires New Stake in AbbVie Inc. (NYSE:ABBV)

Generate Investment Management Ltd bought a new position in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 47,324 shares of the company’s stock, valued at approximately $8,409,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment boosted its stake in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 1.2 %

AbbVie stock opened at $190.67 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company’s fifty day moving average price is $177.38 and its two-hundred day moving average price is $185.48. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the business posted $2.79 EPS. On average, analysts forecast that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent research reports. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Wells Fargo & Company boosted their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Guggenheim lifted their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie 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.