Callan Family Office LLC Has $9.58 Million Stock Holdings in AbbVie Inc. $ABBV

Callan Family Office LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 18.2% during the third quarter, Holdings Channel reports. The firm owned 41,354 shares of the company’s stock after buying an additional 6,354 shares during the quarter. Callan Family Office LLC’s holdings in AbbVie were worth $9,575,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its holdings in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Merit Financial Group LLC lifted its holdings in AbbVie by 34.8% during the 2nd quarter. Merit Financial Group LLC now owns 79,581 shares of the company’s stock valued at $14,772,000 after purchasing an additional 20,548 shares during the last quarter. Three Bridge Wealth Advisors LLC bought a new position in AbbVie during the second quarter worth $495,000. Finally, Grimes & Company Inc. grew its stake in AbbVie by 2.1% in the 2nd quarter. Grimes & Company Inc. now owns 105,278 shares of the company’s stock valued at $19,542,000 after buying an additional 2,172 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $225.76 on Tuesday. The business has a fifty day moving average price of $224.33 and a two-hundred day moving average price of $218.90. The stock has a market capitalization of $399.01 billion, a PE ratio of 171.03, a PEG ratio of 0.92 and a beta of 0.35. AbbVie Inc. has a fifty-two week low of $164.39 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The company had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter 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, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $289.00 target price (up previously from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Wednesday, January 21st. UBS Group reissued a “neutral” rating on shares of AbbVie in a report on Tuesday, January 13th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $223.00 price target on shares of AbbVie in a research report on Wednesday, January 28th. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and boosted their price target for the company from $225.00 to $265.00 in a research note on Wednesday, December 10th. Two research 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $251.17.

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.