AbbVie Inc. $ABBV Shares Bought by Faithward Advisors LLC

Faithward Advisors LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 83.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,414 shares of the company’s stock after purchasing an additional 3,367 shares during the period. Faithward Advisors LLC’s holdings in AbbVie were worth $1,694,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Chelsea Counsel Co. acquired a new position in shares of AbbVie in the 3rd quarter worth approximately $26,000. Litman Gregory Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $28,000. Westend Capital Management LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $29,000. Texas Capital Bancshares Inc TX acquired a new position in shares of AbbVie in the 3rd quarter worth approximately $31,000. Finally, Legacy Wealth Managment LLC ID grew its stake in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $221.42 on Tuesday. The firm’s 50 day simple moving average is $211.30 and its 200-day simple moving average is $218.93. The company has a market cap of $391.20 billion, a P/E ratio of 109.07, a price-to-earnings-growth ratio of 0.70 and a beta of 0.32. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABBV. Canaccord Genuity Group lifted their price objective on shares of AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. William Blair reissued an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 target price on shares of AbbVie in a research report on Thursday, April 30th. Finally, Guggenheim reissued a “buy” rating and issued a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $253.43.

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.