Jones Financial Companies Lllp Increases Stock Holdings in AbbVie Inc. $ABBV

Jones Financial Companies Lllp boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 13.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,239 shares of the company’s stock after buying an additional 31,706 shares during the period. Jones Financial Companies Lllp’s holdings in AbbVie were worth $57,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Conning Inc. boosted its stake in AbbVie by 7.1% during the 2nd quarter. Conning Inc. now owns 191,023 shares of the company’s stock worth $35,458,000 after purchasing an additional 12,690 shares during the last quarter. Diversified Trust Co lifted its stake in shares of AbbVie by 23.6% in the third quarter. Diversified Trust Co now owns 57,076 shares of the company’s stock worth $13,215,000 after buying an additional 10,891 shares in the last quarter. Dohj LLC boosted its position in AbbVie by 41.8% during the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock worth $802,000 after acquiring an additional 1,335 shares during the last quarter. Permanent Capital Management LP purchased a new stake in AbbVie during the 3rd quarter valued at about $720,000. Finally, Railway Pension Investments Ltd raised its holdings in AbbVie by 33.0% in the 3rd quarter. Railway Pension Investments Ltd now owns 853,949 shares of the company’s stock valued at $197,723,000 after acquiring an additional 211,800 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 1.2%

Shares of AbbVie stock opened at $225.76 on Tuesday. The firm has a market cap of $399.01 billion, a PE ratio of 171.03, a price-to-earnings-growth ratio of 0.92 and a beta of 0.35. AbbVie Inc. has a 52 week low of $164.39 and a 52 week high of $244.81. The business’s fifty day simple moving average is $224.33 and its 200-day simple moving average is $218.90.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.09. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. The firm had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the firm earned $3.00 EPS. AbbVie’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ABBV shares. Erste Group Bank lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday, October 14th. UBS Group reiterated a “neutral” rating on shares of AbbVie in a research report on Tuesday, January 13th. Citigroup dropped their target price on AbbVie from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Scotiabank initiated coverage on AbbVie in a report on Thursday, November 13th. They set a “sector outperform” rating and a $280.00 price target on the stock. Finally, Hsbc Global Res raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.17.

AbbVie 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.