Counterweight Ventures LLC Has $3.60 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Counterweight Ventures LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,271 shares of the company’s stock after buying an additional 675 shares during the period. AbbVie accounts for approximately 2.5% of Counterweight Ventures LLC’s holdings, making the stock its 16th biggest holding. Counterweight Ventures LLC’s holdings in AbbVie were worth $3,602,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABBV. Bank of America restated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Buying and Selling

In related 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 transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

NYSE:ABBV opened at $190.67 on Friday. 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 stock has a market capitalization of $336.94 billion, a PE ratio of 79.45, a P/E/G ratio of 1.84 and a beta of 0.58. The firm has a fifty day simple moving average of $177.38 and a 200 day simple moving average of $185.48.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company posted $2.79 EPS. On average, research analysts expect that AbbVie Inc. will post 12.26 EPS for the current fiscal 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.