Chesley Taft & Associates LLC Acquires 575 Shares of AbbVie Inc. (NYSE:ABBV)

Chesley Taft & Associates LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 20,848 shares of the company’s stock after purchasing an additional 575 shares during the period. Chesley Taft & Associates LLC’s holdings in AbbVie were worth $4,368,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in AbbVie during the 4th quarter valued at approximately $4,459,385,000. GAMMA Investing LLC increased its position in shares of AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock worth $2,144,382,000 after buying an additional 10,195,284 shares during the period. Raymond James Financial Inc. bought a new position in AbbVie during the fourth quarter worth $1,190,951,000. FMR LLC raised its stake in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after buying an additional 4,466,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $187.30 on Thursday. The company has a fifty day moving average price of $185.01 and a 200-day moving average price of $186.65. The firm has a market cap of $330.85 billion, a price-to-earnings ratio of 78.04, a PEG ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1 year low of $162.16 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the firm posted $2.31 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. Citigroup reissued a “neutral” rating and issued a $205.00 price objective (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Bank of America raised their price objective on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.95.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

About AbbVie

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.