Verity Asset Management Inc. Increases Stake in AbbVie Inc. (NYSE:ABBV)

Verity Asset Management Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 19.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,098 shares of the company’s stock after buying an additional 344 shares during the period. Verity Asset Management Inc.’s holdings in AbbVie were worth $360,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. AMF Tjanstepension AB bought a new position in shares of AbbVie in the 3rd quarter worth about $8,777,000. Czech National Bank grew its stake in shares of AbbVie by 6.9% in the third quarter. Czech National Bank now owns 359,823 shares of the company’s stock worth $71,058,000 after acquiring an additional 23,320 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of AbbVie by 28.6% during the third quarter. GAMMA Investing LLC now owns 36,014 shares of the company’s stock valued at $7,112,000 after acquiring an additional 8,014 shares in the last quarter. WealthBridge Capital Management LLC raised its position in shares of AbbVie by 8.6% in the 3rd quarter. WealthBridge Capital Management LLC now owns 12,256 shares of the company’s stock worth $2,420,000 after purchasing an additional 972 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in AbbVie by 9.1% in the 3rd quarter. Diversified Trust Co now owns 39,966 shares of the company’s stock worth $7,892,000 after purchasing an additional 3,324 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

ABBV stock opened at $190.20 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a market cap of $336.12 billion, a PE ratio of 79.25, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a 50-day moving average price of $176.57 and a 200 day moving average price of $185.13.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (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 in the previous year, the firm posted $2.79 EPS. Equities research analysts anticipate that AbbVie Inc. will post 12.26 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Guggenheim increased their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday. Finally, BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.