Hanson & Doremus Investment Management Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Hanson & Doremus Investment Management grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 21.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,855 shares of the company's stock after buying an additional 1,536 shares during the quarter. Hanson & Doremus Investment Management's holdings in AbbVie were worth $1,574,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock valued at $933,698,000 after buying an additional 4,471,806 shares during the period. State Street Corp boosted its stake in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of AbbVie by 59.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock valued at $414,088,000 after purchasing an additional 781,858 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock worth $2,009,542,000 after acquiring an additional 582,953 shares during the last quarter. Finally, Saturna Capital Corp raised its position in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

ABBV traded up $0.47 on Thursday, hitting $175.73. 2,290,184 shares of the company's stock traded hands, compared to its average volume of 5,760,481. The company's 50 day simple moving average is $176.37 and its 200-day simple moving average is $184.90. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The firm has a market cap of $310.54 billion, a price-to-earnings ratio of 60.98, a P/E/G ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. AbbVie's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current year.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business's 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 owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. Truist Financial dropped their target price on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Sanford C. Bernstein began coverage on AbbVie in a report on Thursday, October 17th. They issued a "market perform" rating and a $203.00 target price for the company. Bank of America reaffirmed a "neutral" rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Daiwa America lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $205.00.

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.