New England Research & Management Inc. Raises Holdings in AbbVie Inc. (NYSE:ABBV)

New England Research & Management Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 63.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,372 shares of the company's stock after buying an additional 8,280 shares during the period. AbbVie comprises about 1.9% of New England Research & Management Inc.'s investment portfolio, making the stock its 11th biggest holding. New England Research & Management Inc.'s holdings in AbbVie were worth $3,798,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie in the 3rd quarter worth about $999,000. Saturna Capital Corp lifted its holdings in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after buying an additional 560,808 shares during the period. Everence Capital Management Inc. grew its holdings in shares of AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after acquiring an additional 15,550 shares during the period. GAMMA Investing LLC raised its position in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after acquiring an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock valued at $11,169,000 after purchasing an additional 10,768 shares during the period. Institutional investors own 70.23% of the company's stock.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company'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 completion of the transaction, the senior vice president now owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ABBV shares. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Leerink Partners raised shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, November 13th. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Finally, Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Five 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. According to data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $205.00.

AbbVie Stock Performance

ABBV stock traded up $0.08 during midday trading on Thursday, reaching $175.34. 2,802,219 shares of the company's stock traded hands, compared to its average volume of 5,786,168. 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 52-week low of $153.58 and a 52-week high of $207.32. The stock has a market cap of $309.86 billion, a P/E ratio of 60.99, a PEG ratio of 1.68 and a beta of 0.58. The stock's 50-day moving average is $176.37 and its 200 day moving average is $184.90.

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