7,704 Shares in AbbVie Inc. $ABBV Acquired by 71 West Capital Partners

71 West Capital Partners acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,704 shares of the company’s stock, valued at approximately $1,760,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Chelsea Counsel Co. acquired a new position in AbbVie in the 3rd quarter valued at $26,000. Litman Gregory Wealth Management LLC acquired a new position in AbbVie in the 4th quarter valued at $28,000. Westend Capital Management LLC acquired a new position in AbbVie in the 4th quarter valued at $29,000. Texas Capital Bancshares Inc TX acquired a new position in AbbVie in the 3rd quarter valued at $31,000. Finally, Legacy Wealth Managment LLC ID grew its holdings in AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 73 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on ABBV shares. Evercore set a $235.00 price objective on AbbVie in a report on Friday, May 15th. Barclays started coverage on AbbVie in a report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price objective on the stock. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a report on Thursday, April 30th. Canaccord Genuity Group upped their target price on AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Stock Performance

NYSE:ABBV opened at $221.42 on Tuesday. The stock has a fifty day moving average price of $211.30 and a 200-day moving average price of $218.93. The company has a market cap of $391.20 billion, a price-to-earnings ratio of 109.07, a PEG 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, beating analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 EPS. Research analysts predict that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

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.