General Partner Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 716.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,042 shares of the company’s stock after purchasing an additional 1,792 shares during the quarter. General Partner Inc.’s holdings in AbbVie were worth $372,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. HighPoint Advisor Group LLC bought a new stake in shares of AbbVie in the fourth quarter worth about $27,290,000. Fairman Group LLC bought a new stake in shares of AbbVie in the fourth quarter worth about $77,000. Livelsberger Financial Advisory bought a new stake in shares of AbbVie in the fourth quarter worth about $626,000. Warren Street Wealth Advisors LLC bought a new stake in shares of AbbVie in the fourth quarter worth about $238,000. Finally, Accent Capital Management LLC bought a new stake in shares of AbbVie in the fourth quarter worth about $542,000. Institutional investors own 70.23% of the company’s stock.
AbbVie Price Performance
AbbVie stock opened at $171.35 on Wednesday. The stock’s fifty day moving average price is $163.58 and its two-hundred day moving average price is $166.38. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The firm has a market cap of $302.58 billion, a PE ratio of 50.85, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler increased their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research note on Friday, May 17th. They issued an “overweight” rating and a $200.00 price target for the company. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.64.
Check Out Our Latest Stock Analysis on AbbVie
AbbVie Company 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.
Recommended Stories
- Five stocks we like better than AbbVie
- 3 Ways To Invest In Coffee, Other Than Drinking It
- Zebra Analysts Upgrade Stock, Forecasting Major Reversal
- Financial Services Stocks Investing
- Oil Prices, Inflation, and Fed Policies: Stock Market Risks
- What is a buyback in stocks? A comprehensive guide for investors
- Alzheimer’s Drug Stocks: Investing in Eli Lilly, Biogen, Roche
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.