Integrity Alliance LLC. Grows Stock Holdings in AbbVie Inc. $ABBV

Integrity Alliance LLC. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 77.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,985 shares of the company’s stock after buying an additional 10,918 shares during the period. Integrity Alliance LLC.’s holdings in AbbVie were worth $5,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. raised its position in AbbVie by 0.3% during the third quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock worth $41,155,601,000 after acquiring an additional 448,554 shares during the last quarter. Public Sector Pension Investment Board raised its position in AbbVie by 17.0% during the third quarter. Public Sector Pension Investment Board now owns 1,044,690 shares of the company’s stock worth $241,888,000 after acquiring an additional 151,644 shares during the last quarter. Thornburg Investment Management Inc. raised its position in AbbVie by 25.5% during the third quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock worth $93,024,000 after acquiring an additional 81,625 shares during the last quarter. Channing Capital Management LLC raised its position in AbbVie by 10.5% during the third quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock worth $12,885,000 after acquiring an additional 5,302 shares during the last quarter. Finally, Procyon Advisors LLC raised its position in AbbVie by 19.9% during the fourth quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after acquiring an additional 5,427 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ABBV shares. UBS Group cut their price objective on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Piper Sandler boosted their price objective on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Guggenheim reissued a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a research report on Friday, May 1st. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.43.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the transaction, the senior vice president owned 2,654 shares in the company, valued at $619,868.24. This trade represents a 66.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by company insiders.

AbbVie Stock Down 1.3%

NYSE:ABBV opened at $212.79 on Wednesday. The company has a market cap of $375.96 billion, a P/E ratio of 104.82, a P/E/G ratio of 0.74 and a beta of 0.32. The firm’s 50 day moving average is $208.39 and its two-hundred day moving average is $219.70. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly 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 company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the business earned $2.46 EPS. Research analysts forecast that AbbVie Inc. will post 14.3 earnings per share 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.