Titan Wealth CI Ltd Acquires Shares of 35,662 AbbVie Inc. $ABBV

Titan Wealth CI Ltd bought a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 35,662 shares of the company’s stock, valued at approximately $8,148,000. AbbVie makes up about 3.1% of Titan Wealth CI Ltd’s portfolio, making the stock its 17th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Brighton Jones LLC increased its stake in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its stake in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares during the period. Schnieders Capital Management LLC. grew its holdings in AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after acquiring an additional 789 shares in the last quarter. Ieq Capital LLC grew its holdings in AbbVie by 4.6% during the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after acquiring an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its position in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after purchasing an additional 612,702 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.5%

NYSE ABBV opened at $222.62 on Wednesday. The company has a fifty day simple moving average of $211.58 and a two-hundred day simple moving average of $218.89. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The stock 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.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion for 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 quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target for the company in a research report on Thursday, April 30th. Guggenheim reissued a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Evercore set a $235.00 target price on AbbVie in a research report on Friday, May 15th. William Blair reissued an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Finally, Barclays started coverage on shares of AbbVie in a research note on Thursday, February 19th. They set an “overweight” rating and a $275.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.43.

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.