AbbVie Inc. $ABBV Stock Holdings Lifted by Faithward Advisors LLC

Faithward Advisors LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 83.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,414 shares of the company’s stock after acquiring an additional 3,367 shares during the period. Faithward Advisors LLC’s holdings in AbbVie were worth $1,694,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Chelsea Counsel Co. bought a new stake in AbbVie in the 3rd quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at about $28,000. Westend Capital Management LLC bought a new stake in AbbVie in the 4th quarter valued at about $29,000. IFC & Insurance Marketing Inc. bought a new stake in AbbVie in the 4th quarter valued at about $31,000. Finally, Texas Capital Bancshares Inc TX bought a new stake in AbbVie in the 3rd quarter valued at about $31,000. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Canaccord Genuity Group lifted their price objective on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Morgan Stanley lifted their price objective on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Trading Down 2.8%

AbbVie stock opened at $221.42 on Tuesday. The stock has a market cap of $391.20 billion, a price-to-earnings ratio of 109.07, a PEG ratio of 0.70 and a beta of 0.32. The company’s 50-day moving average price is $211.30 and its two-hundred day moving average price is $218.93. AbbVie Inc. has a 52 week low of $181.73 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $2.46 EPS. Research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

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.