Lingohr Asset Management GmbH Purchases 23,058 Shares of AbbVie Inc. $ABBV

Lingohr Asset Management GmbH raised its holdings in AbbVie Inc. (NYSE:ABBV) by 980.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 25,409 shares of the company’s stock after acquiring an additional 23,058 shares during the quarter. AbbVie makes up about 1.4% of Lingohr Asset Management GmbH’s portfolio, making the stock its 28th largest holding. Lingohr Asset Management GmbH’s holdings in AbbVie were worth $5,841,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ABBV. Evolution Wealth Management Inc. acquired a new stake in shares of AbbVie during the second quarter worth $26,000. Spurstone Advisory Services LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at about $28,000. Financial Gravity Companies Inc. bought a new stake in shares of AbbVie during the second quarter valued at approximately $36,000. Delos Wealth Advisors LLC bought a new stake in AbbVie during the 2nd quarter valued at $39,000. Finally, Bear Mountain Capital Inc. increased its position in shares of AbbVie by 480.6% during the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after acquiring an additional 173 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

NYSE:ABBV opened at $223.02 on Friday. AbbVie Inc. has a 1-year low of $164.39 and a 1-year high of $244.81. The company has a market capitalization of $394.15 billion, a price-to-earnings ratio of 168.95, a PEG ratio of 0.91 and a beta of 0.36. The business has a 50 day moving average of $224.40 and a 200 day moving average of $218.24.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. The company had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter last year, the company earned $3.00 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABBV shares. Berenberg Bank set a $275.00 price target on AbbVie in a report on Tuesday, January 20th. UBS Group reissued a “neutral” rating on shares of AbbVie in a research report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price objective on AbbVie from $250.00 to $260.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Erste Group Bank cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Raymond James Financial set a $256.00 price target on AbbVie in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.37.

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.