Polaris Capital Management Reduces Stake in AbbVie Inc.

Polaris Capital Management LLC has reduced its investment in AbbVie Inc. (NYSE:ABBV) by 3.2% during the fourth quarter, as reported in their latest filing with the Securities and Exchange Commission (SEC). Following this adjustment, the firm now holds 227,879 shares of AbbVie, having sold 7,500 shares in the recent quarter. AbbVie represents roughly 2.0% of Polaris Capital Management LLC's total investment portfolio, making it the 14th largest asset in their holdings. The total value of Polaris's stake in AbbVie is approximately $40,494,000, according to the SEC filing.

Other institutional investors have also recently adjusted their positions in AbbVie. For instance, Groupama Asset Management increased its holdings by 40.3% in the third quarter, acquiring 38,974 additional shares for a total of 135,749 shares now valued at $27,000. Additionally, RPg Family Wealth Advisory LLC initiated a new position in AbbVie worth about $28,000 during the same quarter. Fiduciary Advisors Inc. and Retirement Wealth Solutions LLC also bought new stakes in AbbVie, valued at approximately $29,000 and $35,000, respectively. Furthermore, Mizuho Securities Co. Ltd. doubled its position by acquiring 100 more shares, bringing its total ownership to 200 shares valued at $39,000. Currently, institutional investors and hedge funds own about 70.23% of AbbVie’s stock.

Performance Overview of AbbVie Stock

Shares of AbbVie opened at $190.31 on Tuesday. The company's financial ratios include a debt-to-equity ratio of 9.64, a current ratio of 0.65, and a quick ratio of 0.54. The stock has a fifty-day moving average of $177.54 and a 200-day moving average of $185.75, with a market capitalization of $336.30 billion. The price-to-earnings (P/E) ratio stands at 79.29, and the price-to-earnings growth (PEG) ratio is 1.53, indicating a beta of 0.58. AbbVie has seen a one-year low of $153.58 and a one-year high of $207.32.

Latest Earnings and Analyst Opinions

On January 31st, AbbVie reported its latest quarterly earnings, posting $2.16 earnings per share, which was below market expectations of $2.98—a miss of $0.82. The company's return on equity stood at an impressive 257.91%, with a net margin of 7.59%. In the same quarter from the previous year, AbbVie reported $2.79 earnings per share. Analysts predict AbbVie Inc. will achieve earnings per share of 12.32 for the current financial year.

Analyst Ratings and Recommendations

AbbVie has been actively covered by research analysts recently. Wolfe Research began its coverage, rating AbbVie as “outperform” with a target price of $205. On February 3rd, Wells Fargo increased its rating, adjusting its price target from $195.00 to $210.00 while maintaining an “overweight” rating. JPMorgan Chase lowered its target from $210.00 to $200.00 but still holds an “overweight” rating for AbbVie. Morgan Stanley raised its target from $224.00 to $239.00, and Citigroup also increased its price target from $205.00 to $215.00, tagging AbbVie as a “buy.” A total of five analysts have a hold rating, seventeen gave a buy rating, and two assigned a strong buy rating, creating a consensus among analysts reflecting a "Moderate Buy" status and an average price target of $208.35.

Insider Transactions

In related insider news, Kevin K. Buckbee, a senior vice president at AbbVie, sold 1,800 shares on December 16th at an average price of $172.24, amounting to a total transaction of $310,032. Post-transaction, Buckbee owns 6,983 shares of AbbVie valued at about $1,202,751.92—a decline of 20.49% in their position. This transaction was reported to the SEC and is publicly available.

About AbbVie Inc.

AbbVie Inc. focuses on discovering, developing, manufacturing, and selling pharmaceuticals globally. Its products include Humira for autoimmune disorders, Skyrizi for plaque psoriasis, Rinvoq for various arthritic conditions, Imbruvica for blood cancers, Epkinly for lymphoma, Elahere for cancer treatment, and Venclexta for blood cancers.

Polaris, AbbVie, Stake