Stratos Investment Management LLC Has $2.22 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Stratos Investment Management LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,511 shares of the company’s stock after buying an additional 439 shares during the period. Stratos Investment Management LLC’s holdings in AbbVie were worth $2,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC bought a new position in AbbVie during the third quarter valued at about $999,000. Saturna Capital Corp increased its stake in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the period. Everence Capital Management Inc. increased its stake in AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares during the period. GAMMA Investing LLC increased its stake in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after acquiring an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC increased its stake in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after acquiring an additional 10,768 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Morgan Stanley upped their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lowered their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Guggenheim upped their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Price Performance

ABBV opened at $189.97 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a fifty day simple moving average of $176.84 and a 200 day simple moving average of $185.26. The stock has a market cap of $335.71 billion, a P/E ratio of 79.16, a P/E/G ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the prior year, the firm posted $2.79 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.26 EPS for the current year.

Insiders Place Their Bets

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

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.