Impact Partnership Wealth LLC Has $244,000 Stock Position in AbbVie Inc. $ABBV

Impact Partnership Wealth LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 70.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,053 shares of the company’s stock after selling 2,556 shares during the quarter. Impact Partnership Wealth LLC’s holdings in AbbVie were worth $244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its position 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 in the last quarter. Revolve Wealth Partners LLC lifted its stake in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of AbbVie by 12.7% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,007 shares of the company’s stock valued at $929,000 after purchasing an additional 566 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in shares of AbbVie in the 2nd quarter valued at $844,000. Finally, Stock Yards Bank & Trust Co. raised its holdings in shares of AbbVie by 0.9% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 62,815 shares of the company’s stock worth $11,660,000 after buying an additional 572 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.2%

Shares of NYSE:ABBV opened at $223.02 on Friday. The firm has a market cap of $394.15 billion, a P/E ratio of 168.95, a P/E/G ratio of 0.91 and a beta of 0.36. AbbVie Inc. has a 12-month low of $164.39 and a 12-month high of $244.81. The business has a fifty day simple moving average of $224.40 and a 200 day simple moving average of $218.46.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate 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 prior year, the firm posted $3.00 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ABBV shares. Scotiabank started coverage on AbbVie in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $280.00 price objective on the stock. Guggenheim raised their price target on shares of AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Morgan Stanley upped their price objective on shares of AbbVie from $261.00 to $269.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. raised their target price on shares of AbbVie from $250.00 to $260.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the stock from $225.00 to $265.00 in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.37.

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.