Impact Partnership Wealth LLC Sells 2,556 Shares of AbbVie Inc. $ABBV

Impact Partnership Wealth LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 70.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,053 shares of the company’s stock after selling 2,556 shares during the period. Impact Partnership Wealth LLC’s holdings in AbbVie were worth $244,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ABBV. Evolution Wealth Management Inc. bought a new position in shares of AbbVie in the 2nd quarter valued at about $26,000. Spurstone Advisory Services LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $28,000. Financial Gravity Companies Inc. acquired a new stake in AbbVie in the 2nd quarter valued at about $36,000. Delos Wealth Advisors LLC bought a new position in AbbVie during the second quarter worth about $39,000. Finally, Bear Mountain Capital Inc. increased its position in 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 buying an additional 173 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, January 21st. HSBC raised AbbVie from a “hold” rating to a “buy” rating and raised their price target for the company from $225.00 to $265.00 in a report on Wednesday, December 10th. Morgan Stanley lifted their price objective on shares of AbbVie from $261.00 to $269.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. BMO Capital Markets reissued an “outperform” rating and issued a $258.00 price objective on shares of AbbVie in a research report on Thursday, January 15th. Finally, Guggenheim lifted their target price on shares of AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.37.

AbbVie Stock Performance

NYSE:ABBV opened at $223.02 on Friday. AbbVie Inc. has a 52 week low of $164.39 and a 52 week high of $244.81. The firm’s 50-day simple moving average is $224.40 and its 200 day simple moving average is $218.46. The firm has a market cap of $394.15 billion, a price-to-earnings ratio of 168.95, a P/E/G ratio of 0.91 and a beta of 0.36.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 31st. The company reported $1.86 earnings per share (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 firm had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the prior year, the business posted $3.00 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS 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.