21,126 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Jericho Financial LLP

Jericho Financial LLP acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,126 shares of the company’s stock, valued at approximately $3,754,000. AbbVie makes up about 2.7% of Jericho Financial LLP’s investment portfolio, making the stock its 19th biggest position.

Other institutional investors also recently modified their holdings of the company. Groupama Asset Managment raised its holdings in shares of AbbVie by 40.3% during the 3rd 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 bought a new position in AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie during the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie during the fourth quarter worth approximately $35,000. Finally, Marquette Asset Management LLC bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $39,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABBV. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Citigroup lifted their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday. BMO Capital Markets boosted their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Finally, UBS Group upped their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday. Five research 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated 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 approximately $1,202,751.92. This represents 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 accessible through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

ABBV stock opened at $189.97 on Wednesday. The company has a market cap of $335.71 billion, a P/E ratio of 79.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The stock’s fifty day moving average price is $176.84 and its 200-day moving average price is $185.26. AbbVie Inc. has a 1 year low of $153.58 and a 1 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 posted 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the previous year, the business earned $2.79 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.26 earnings per share for the current year.

About AbbVie

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.