Patton Fund Management Inc. Purchases New Holdings in AbbVie Inc. (NYSE:ABBV)

Patton Fund Management Inc. purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,466 shares of the company's stock, valued at approximately $5,058,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Groupama Asset Managment grew its stake in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter worth about $28,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $35,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Activity

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

AbbVie Stock Up 0.1 %

NYSE:ABBV traded up $0.15 on Thursday, hitting $175.41. 1,241,937 shares of the company's stock traded hands, compared to its average volume of 5,698,836. The firm has a 50-day moving average price of $176.37 and a 200-day moving average price of $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. The company has a market cap of $309.97 billion, a PE ratio of 60.91, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) 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 company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The company's revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABBV. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price objective for the company. Morgan Stanley cut their price objective on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They set a "market perform" rating and a $203.00 target price for the company. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Daiwa America downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Five equities 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. According to data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $205.00.

AbbVie 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.