&PARTNERS Has $87.40 Million Stock Position in AbbVie Inc. $ABBV

&PARTNERS lifted its stake in AbbVie Inc. (NYSE:ABBV) by 24.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 382,480 shares of the company’s stock after acquiring an additional 76,006 shares during the quarter. &PARTNERS’s holdings in AbbVie were worth $87,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Chelsea Counsel Co. acquired a new stake in shares of AbbVie in the third quarter valued at about $26,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $28,000. Westend Capital Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of AbbVie in the third quarter valued at about $31,000. Finally, Legacy Wealth Managment LLC ID increased its position in shares of AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Guggenheim reiterated a “buy” rating and set a $249.00 price target on shares of AbbVie in a report on Friday, May 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 price target on shares of AbbVie in a report on Thursday, April 30th. Evercore set a $235.00 price target on AbbVie in a report on Friday, May 15th. Finally, DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Three investment 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, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Stock Performance

AbbVie stock opened at $222.62 on Wednesday. AbbVie Inc. has a 52 week low of $181.73 and a 52 week high of $244.81. The stock has a market capitalization of $393.33 billion, a P/E ratio of 109.67, a PEG ratio of 0.68 and a beta of 0.32. The stock has a 50-day simple moving average of $211.58 and a 200 day simple moving average of $218.89.

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