Mawer Investment Management Ltd. Buys 10,550 Shares of AbbVie Inc. $ABBV

Mawer Investment Management Ltd. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 261,398 shares of the company’s stock after purchasing an additional 10,550 shares during the quarter. Mawer Investment Management Ltd.’s holdings in AbbVie were worth $59,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Cogent Private Wealth Inc. purchased a new position in AbbVie during the fourth quarter worth about $323,000. Twin Peaks Wealth Advisors LLC grew its position in AbbVie by 4.4% during the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 2,984 shares of the company’s stock worth $666,000 after buying an additional 126 shares in the last quarter. BNP Paribas grew its position in AbbVie by 62.6% during the fourth quarter. BNP Paribas now owns 78,270 shares of the company’s stock worth $17,885,000 after buying an additional 30,139 shares in the last quarter. Collar Capital Management LLC grew its position in AbbVie by 36.2% during the fourth quarter. Collar Capital Management LLC now owns 15,307 shares of the company’s stock worth $3,497,000 after buying an additional 4,065 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. purchased a new position in AbbVie during the fourth quarter worth about $250,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent analyst reports. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research report on Thursday, February 5th. Piper Sandler boosted their target price on AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Barclays initiated coverage on AbbVie in a research report on Thursday, February 19th. They set an “overweight” rating and a $275.00 target price for the company. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Finally, Wall Street Zen upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $253.43.

Insiders Place Their Bets

In related news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the sale, the senior vice president directly owned 2,654 shares in the company, valued at $619,868.24. This represents a 66.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

AbbVie Trading Down 2.3%

ABBV opened at $212.63 on Tuesday. The stock has a 50-day moving average price of $208.56 and a 200-day moving average price of $219.58. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The stock has a market capitalization of $375.67 billion, a P/E ratio of 104.74, a PEG ratio of 0.75 and a beta of 0.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 EPS. On average, equities research analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.