Mediolanum International Funds Ltd Buys 23,922 Shares of AbbVie Inc. (NYSE:ABBV)

Mediolanum International Funds Ltd increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 12.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,854 shares of the company’s stock after buying an additional 23,922 shares during the quarter. Mediolanum International Funds Ltd’s holdings in AbbVie were worth $37,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. GGM Financials LLC grew its stake in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc lifted its holdings in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after acquiring an additional 52 shares during the last quarter. Dillon & Associates Inc. grew its position in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after acquiring an additional 52 shares in the last quarter. First Citizens Financial Corp increased its stake in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after acquiring an additional 53 shares during the last quarter. Finally, Sunflower Bank N.A. raised its position in AbbVie by 0.4% during the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock opened at $175.54 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $310.21 billion, a PE ratio of 60.95, a P/E/G ratio of 1.68 and a beta of 0.58. The business has a 50 day moving average of $176.37 and a 200 day moving average of $184.90. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Citigroup decreased their target price on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday. Guggenheim upped their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.00.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

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.