Samson Rock Capital LLP bought a new position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,980 shares of the company's stock, valued at approximately $266,000. AbbVie accounts for about 0.2% of Samson Rock Capital LLP's investment portfolio, making the stock its 29th largest holding.
Other institutional investors also recently bought and sold shares of the company. Covenant Asset Management LLC grew its holdings in shares of AbbVie by 1.0% in the second quarter. Covenant Asset Management LLC now owns 24,672 shares of the company's stock valued at $3,779,000 after purchasing an additional 239 shares in the last quarter. Beacon Financial Advisory LLC raised its position in AbbVie by 3.5% in the 2nd quarter. Beacon Financial Advisory LLC now owns 10,399 shares of the company's stock valued at $1,593,000 after purchasing an additional 353 shares during the last quarter. Corundum Group Inc. raised its position in AbbVie by 1.9% in the 2nd quarter. Corundum Group Inc. now owns 5,486 shares of the company's stock valued at $840,000 after purchasing an additional 100 shares during the last quarter. Dividend Assets Capital LLC raised its position in AbbVie by 7.1% in the 3rd quarter. Dividend Assets Capital LLC now owns 2,166 shares of the company's stock valued at $291,000 after purchasing an additional 143 shares during the last quarter. Finally, Cornerstone Capital Inc. raised its position in AbbVie by 0.6% in the 3rd quarter. Cornerstone Capital Inc. now owns 203,397 shares of the company's stock valued at $27,298,000 after purchasing an additional 1,187 shares during the last quarter. 67.71% of the stock is owned by hedge funds and other institutional investors.
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AbbVie Stock Down 0.2 %
Shares of ABBV stock traded down $0.29 during mid-day trading on Friday, reaching $147.11. 441,221 shares of the company were exchanged, compared to its average volume of 5,856,474. AbbVie Inc. has a fifty-two week low of $133.05 and a fifty-two week high of $175.91. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.83 and a current ratio of 0.93. The company has a market capitalization of $260.16 billion, a P/E ratio of 19.68, a P/E/G ratio of 3.16 and a beta of 0.69. The business's 50 day simple moving average is $159.29 and its 200 day simple moving average is $149.20.
AbbVie (NYSE:ABBV – Get Rating) last released its quarterly earnings results on Friday, October 28th. The company reported $3.66 earnings per share for the quarter, topping analysts' consensus estimates of $3.56 by $0.10. The business had revenue of $14.81 billion during the quarter, compared to the consensus estimate of $14.95 billion. AbbVie had a net
margin of 23.19% and a return on equity of 155.88%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.33 earnings per share. Research analysts predict that AbbVie Inc. will post 13.89 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. BMO Capital Markets cut their price objective on shares of AbbVie from $170.00 to $169.00 and set an "outperform" rating for the company in a research report on Monday, October 31st. Piper Sandler upped their price objective on shares of AbbVie from $155.00 to $157.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 17th. Morgan Stanley upped their price objective on shares of AbbVie from $178.00 to $182.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 6th. Credit Suisse Group started coverage on shares of AbbVie in a research note on Thursday, November 17th. They set an "outperform" rating and a $170.00 price target on the stock. Finally, Truist Financial upped their price target on shares of AbbVie from $160.00 to $180.00 in a research note on Thursday, January 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $160.56.
Insiders Place Their Bets
In other AbbVie news, EVP Timothy J. Richmond sold 42,370 shares of AbbVie stock in a transaction on Monday, December 12th. The shares were sold at an average price of $163.44, for a total value of $6,924,952.80. Following the completion of the transaction, the executive vice president now owns 13,837 shares of the company's stock, valued at $2,261,519.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.08% of the stock is currently owned by corporate insiders.
AbbVie Company Profile
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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson's, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.
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