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

Callan Family Office LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,354 shares of the company’s stock after purchasing an additional 6,354 shares during the period. Callan Family Office LLC’s holdings in AbbVie were worth $9,575,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Brighton Jones LLC grew its stake in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of 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 in the last quarter. Merit Financial Group LLC grew its position in shares of AbbVie by 34.8% in 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 period. Three Bridge Wealth Advisors LLC bought a new stake in AbbVie during the 2nd quarter worth approximately $495,000. Finally, Grimes & Company Inc. increased its stake in AbbVie by 2.1% during the 2nd quarter. Grimes & Company Inc. now owns 105,278 shares of the company’s stock worth $19,542,000 after purchasing an additional 2,172 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on ABBV shares. Scotiabank started coverage on shares of AbbVie in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $280.00 price target for the company. Berenberg Bank set a $275.00 target price on shares of AbbVie in a research note on Tuesday, January 20th. DZ Bank downgraded AbbVie from a “buy” rating to a “hold” rating and set a $237.00 price target on the stock. in a research note on Tuesday, November 4th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $223.00 target price on shares of AbbVie in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $251.17.

AbbVie Stock Performance

ABBV opened at $225.76 on Tuesday. The business’s 50-day simple moving average is $224.33 and its 200 day simple moving average is $218.90. AbbVie Inc. has a 52-week low of $164.39 and a 52-week high of $244.81. The firm 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 (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, beating 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 firm had revenue of $15.78 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same period last year, the company earned $3.00 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

About AbbVie

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.