AbbVie Inc. $ABBV Shares Bought by Atle Fund Management AB

Atle Fund Management AB grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,105 shares of the company’s stock after purchasing an additional 5,172 shares during the quarter. AbbVie makes up 8.3% of Atle Fund Management AB’s portfolio, making the stock its 2nd largest holding. Atle Fund Management AB’s holdings in AbbVie were worth $21,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ABBV. Hazlett Burt & Watson Inc. grew its stake in AbbVie by 7.9% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 10,344 shares of the company’s stock worth $2,394,000 after buying an additional 756 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of AbbVie by 8.9% during the third quarter. Thrivent Financial for Lutherans now owns 421,298 shares of the company’s stock valued at $97,547,000 after acquiring an additional 34,384 shares during the period. Victrix Investment Advisors increased its holdings in shares of AbbVie by 9.9% in the 3rd quarter. Victrix Investment Advisors now owns 10,653 shares of the company’s stock worth $2,467,000 after acquiring an additional 957 shares during the period. Cutler Investment Counsel LLC lifted its position in AbbVie by 6.2% in the 3rd quarter. Cutler Investment Counsel LLC now owns 3,531 shares of the company’s stock valued at $818,000 after purchasing an additional 207 shares during the last quarter. Finally, Topsail Wealth Management LLC boosted its stake in AbbVie by 68.9% during the 3rd quarter. Topsail Wealth Management LLC now owns 2,802 shares of the company’s stock valued at $649,000 after purchasing an additional 1,143 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. BMO Capital Markets restated an “outperform” rating and issued a $258.00 target price on shares of AbbVie in a research report on Thursday, January 15th. Guggenheim boosted their price target on AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Morgan Stanley increased their price target on AbbVie from $261.00 to $269.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $223.00 price objective on shares of AbbVie in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $249.37.

AbbVie Stock Performance

ABBV opened at $223.02 on Friday. The company has a market capitalization of $394.15 billion, a PE ratio of 168.95, a P/E/G ratio of 0.91 and a beta of 0.36. The stock’s fifty day moving average is $224.40 and its 200-day moving average is $218.46. AbbVie Inc. has a one year low of $164.39 and a one year high of $244.81.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.09. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The business had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter last year, the business posted $3.00 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal 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.