Miller Howard Investments Inc. NY reduced its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 409,153 shares of the company's stock after selling 6,334 shares during the period. AbbVie comprises 2.4% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its 11th largest holding. Miller Howard Investments Inc. NY's holdings in AbbVie were worth $72,706,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment increased its stake in shares of AbbVie by 40.3% in the third 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 during the period. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the 4th quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. boosted its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
ABBV stock opened at $190.67 on Friday. The firm has a market capitalization of $336.94 billion, a PE ratio of 79.45, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The stock's 50 day moving average is $177.54 and its 200-day moving average is $185.60.
AbbVie (NYSE:ABBV - Get Free Report) 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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the company earned $2.79 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.
ABBV has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Leerink Partners raised AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, November 13th. Piper Sandler Companies reiterated an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Finally, Daiwa Capital Markets cut AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Five 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $208.35.
Get Our Latest Analysis on ABBV
In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction on 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 owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by insiders.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.