Axecap Investments LLC Acquires 2,005 Shares of AbbVie Inc. (NYSE:ABBV)

Axecap Investments LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.2% during the fourth quarter, Holdings Channel reports. The fund owned 23,839 shares of the company’s stock after acquiring an additional 2,005 shares during the quarter. AbbVie comprises about 3.2% of Axecap Investments LLC’s holdings, making the stock its 6th biggest holding. Axecap Investments LLC’s holdings in AbbVie were worth $4,236,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter valued at $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the 4th quarter valued at $35,000. Mizuho Securities Co. Ltd. grew its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in AbbVie in the 3rd quarter valued at $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $310,032.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley upped their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. UBS Group increased their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Price Performance

AbbVie stock opened at $190.31 on Tuesday. 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 capitalization of $336.30 billion, a PE ratio of 79.29, a P/E/G ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a 50-day moving average price of $177.54 and a two-hundred day moving average price of $185.75.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the company earned $2.79 earnings per share. Analysts expect that AbbVie Inc. will post 12.32 EPS for the current year.

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.