Nvwm LLC increased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 57.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,089 shares of the company’s stock after acquiring an additional 764 shares during the period. Nvwm LLC’s holdings in AbbVie were worth $159,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ABBV. Orser Capital Management LLC grew its stake in AbbVie by 3,735.5% during the 4th quarter. Orser Capital Management LLC now owns 7,671 shares of the company’s stock worth $679,000 after buying an additional 7,471 shares during the last quarter. Savior LLC purchased a new stake in AbbVie during the 4th quarter worth approximately $53,000. Cordasco Financial Network increased its stake in AbbVie by 91.8% during the 4th quarter. Cordasco Financial Network now owns 2,513 shares of the company’s stock worth $223,000 after buying an additional 1,203 shares in the last quarter. Pathway Financial Advisors LLC increased its stake in AbbVie by 16.2% during the 4th quarter. Pathway Financial Advisors LLC now owns 4,306 shares of the company’s stock worth $379,000 after buying an additional 600 shares in the last quarter. Finally, Leavell Investment Management Inc. increased its stake in AbbVie by 0.8% during the 4th quarter. Leavell Investment Management Inc. now owns 68,657 shares of the company’s stock worth $6,079,000 after buying an additional 575 shares in the last quarter. 72.17% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Edward J. Rapp purchased 2,875 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was bought at an average cost of $91.75 per share, for a total transaction of $263,781.25. Also, VP Brian L. Durkin acquired 2,200 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $68.18 per share, with a total value of $149,996.00. Following the transaction, the vice president now directly owns 15,294 shares of the company’s stock, valued at approximately $1,042,744.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 8,825 shares of company stock valued at $671,852. 0.09% of the stock is currently owned by insiders.
A number of equities research analysts have recently issued reports on the company. Bank of America began coverage on AbbVie in a research report on Monday. They issued a “neutral” rating and a $95.00 price target for the company. Piper Sandler upped their price target on AbbVie from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price target on the stock in a research note on Tuesday, May 12th. Morgan Stanley restated an “overweight” rating and set a $95.00 price target on shares of AbbVie in a research note on Monday, May 11th. Finally, SVB Leerink increased their price objective on AbbVie from $107.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. AbbVie currently has an average rating of “Buy” and a consensus target price of $98.23.
Shares of ABBV traded down $0.64 during mid-day trading on Friday, reaching $92.38. 751,473 shares of the company’s stock were exchanged, compared to its average volume of 13,309,068. The company has a 50-day simple moving average of $82.74 and a two-hundred day simple moving average of $85.37. AbbVie Inc has a 52-week low of $62.55 and a 52-week high of $97.86. The company has a market cap of $134.66 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.93 and a beta of 0.82.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.25 by $0.17. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the previous year, the company earned $2.14 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc will post 10.7 EPS for the current fiscal year.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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