Mather Group LLC. Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

Mather Group LLC. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,734 shares of the company’s stock after purchasing an additional 950 shares during the quarter. Mather Group LLC.’s holdings in AbbVie were worth $5,284,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ABBV. AMF Tjanstepension AB acquired a new position in AbbVie during the 3rd quarter worth approximately $8,777,000. Czech National Bank lifted its position in shares of AbbVie by 6.9% during the 3rd quarter. Czech National Bank now owns 359,823 shares of the company’s stock worth $71,058,000 after purchasing an additional 23,320 shares during the last quarter. GAMMA Investing LLC increased its holdings in AbbVie by 28.6% in the third quarter. GAMMA Investing LLC now owns 36,014 shares of the company’s stock valued at $7,112,000 after buying an additional 8,014 shares during the last quarter. WealthBridge Capital Management LLC increased its holdings in AbbVie by 8.6% in the third quarter. WealthBridge Capital Management LLC now owns 12,256 shares of the company’s stock valued at $2,420,000 after buying an additional 972 shares during the last quarter. Finally, Diversified Trust Co raised its stake in AbbVie by 9.1% in the third quarter. Diversified Trust Co now owns 39,966 shares of the company’s stock valued at $7,892,000 after buying an additional 3,324 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Guggenheim upped their target price on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday. Raymond James reiterated an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research note on Monday. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, 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 filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

NYSE:ABBV opened at $190.20 on Tuesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market cap of $336.12 billion, a price-to-earnings ratio of 79.25, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The firm’s fifty day moving average price is $176.57 and its 200 day moving average price is $185.13. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 quarter in the previous year, the company posted $2.79 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 12.26 EPS for the current year.

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.