Captrust Financial Advisors Purchases 13,113 Shares of AbbVie Inc. $ABBV

Captrust Financial Advisors lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,487,949 shares of the company’s stock after purchasing an additional 13,113 shares during the period. AbbVie accounts for approximately 0.6% of Captrust Financial Advisors’ investment portfolio, making the stock its 29th biggest holding. Captrust Financial Advisors’ holdings in AbbVie were worth $339,981,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ABBV. Norges Bank bought a new position in shares of AbbVie during the fourth quarter worth approximately $5,865,055,000. Wellington Management Group LLP grew its position in AbbVie by 457.4% during the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after buying an additional 8,646,424 shares in the last quarter. Capital World Investors grew its position in AbbVie by 106.3% during the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock worth $2,986,777,000 after buying an additional 6,736,161 shares in the last quarter. Cardano Risk Management B.V. increased its stake in AbbVie by 914.6% during the 4th quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock worth $1,244,112,000 after acquiring an additional 4,908,260 shares during the period. Finally, Geode Capital Management LLC increased its stake in AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after acquiring an additional 4,190,487 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $222.62 on Wednesday. AbbVie Inc. has a one year low of $181.73 and a one year high of $244.81. The company has a market cap of $393.33 billion, a P/E ratio of 109.67, a P/E/G ratio of 0.68 and a beta of 0.32. The firm has a 50 day simple moving average of $211.58 and a two-hundred day simple moving average of $218.89.

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

Analysts Set New Price Targets

Several brokerages have weighed in on ABBV. William Blair reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Piper Sandler lifted their price objective on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

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.