Caprock Group LLC Has $7.61 Million Position in AbbVie Inc. (NYSE:ABBV)

Caprock Group LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,821 shares of the company's stock after purchasing an additional 1,624 shares during the quarter. Caprock Group LLC's holdings in AbbVie were worth $7,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Groupama Asset Managment raised 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 acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at $35,000. Finally, Marquette Asset Management LLC bought a new position in shares of AbbVie in the third quarter valued at about $39,000. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ABBV shares. Piper Sandler Companies restated an "overweight" rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Piper Sandler raised their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They set an "outperform" rating and a $205.00 price objective on the stock. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They issued a "market perform" rating and a $203.00 target price for the company. Finally, BMO Capital Markets cut their price target on AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $205.00.

AbbVie Trading Up 4.7 %

Shares of ABBV stock traded up $8.25 on Friday, hitting $183.90. The stock had a trading volume of 11,926,469 shares, compared to its average volume of 5,362,292. The company has a fifty day moving average price of $176.57 and a two-hundred day moving average price of $184.95. 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 firm has a market cap of $324.98 billion, a P/E ratio of 63.85, a PEG ratio of 1.77 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same quarter last year, the company earned $2.79 EPS. As a group, analysts forecast that AbbVie Inc. will post 10.09 earnings per share 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.