Chicago Capital LLC Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Chicago Capital LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,003 shares of the company’s stock after acquiring an additional 307 shares during the quarter. Chicago Capital LLC’s holdings in AbbVie were worth $9,419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC lifted its position in AbbVie by 51.2% during the fourth quarter. HHM Wealth Advisors LLC now owns 9,027 shares of the company’s stock worth $1,604,000 after buying an additional 3,058 shares during the period. CFM Wealth Partners LLC lifted its position in AbbVie by 3.5% during the fourth quarter. CFM Wealth Partners LLC now owns 21,955 shares of the company’s stock worth $3,901,000 after buying an additional 752 shares during the period. CENTRAL TRUST Co lifted its position in AbbVie by 1.4% during the fourth quarter. CENTRAL TRUST Co now owns 232,430 shares of the company’s stock worth $41,303,000 after buying an additional 3,105 shares during the period. Valley National Advisers Inc. lifted its position in AbbVie by 2.2% during the fourth quarter. Valley National Advisers Inc. now owns 5,105 shares of the company’s stock worth $907,000 after buying an additional 111 shares during the period. Finally, Citadel Investment Advisory Inc. lifted its position in AbbVie by 13.2% during the fourth quarter. Citadel Investment Advisory Inc. now owns 18,381 shares of the company’s stock worth $3,266,000 after buying an additional 2,137 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $183.90 on Monday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $324.98 billion, a price-to-earnings ratio of 63.85, a P/E/G ratio of 1.77 and a beta of 0.58. The stock’s fifty day simple moving average is $176.57 and its 200-day simple moving average is $185.06.

AbbVie (NYSE:ABBV) last issued its earnings results 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 9.22% and a return on equity of 244.01%. During the same period in the previous year, the company posted $2.79 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 10.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. BMO Capital Markets lowered their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $205.00.

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.