Cerity Partners LLC Purchases 62,426 Shares of AbbVie Inc. $ABBV

Cerity Partners LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,199,683 shares of the company’s stock after purchasing an additional 62,426 shares during the period. Cerity Partners LLC owned 0.07% of AbbVie worth $274,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Vanguard Group Inc. raised its position in shares of AbbVie by 0.3% in the third quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock worth $41,155,601,000 after buying an additional 448,554 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of AbbVie by 17.0% in the third quarter. Public Sector Pension Investment Board now owns 1,044,690 shares of the company’s stock worth $241,888,000 after buying an additional 151,644 shares in the last quarter. Thornburg Investment Management Inc. raised its position in shares of AbbVie by 25.5% in the third quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock worth $93,024,000 after buying an additional 81,625 shares in the last quarter. Channing Capital Management LLC raised its position in shares of AbbVie by 10.5% in the third quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock worth $12,885,000 after buying an additional 5,302 shares in the last quarter. Finally, Procyon Advisors LLC raised its position in shares of AbbVie by 19.9% in the fourth quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after buying an additional 5,427 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABBV. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Royal Bank Of Canada began coverage on AbbVie in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price objective on the stock. Canaccord Genuity Group increased their price objective on AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. William Blair reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Finally, Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a research 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 assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Stock Down 1.9%

NYSE ABBV opened at $223.00 on Tuesday. The stock’s 50-day simple moving average is $210.09 and its two-hundred day simple moving average is $219.18. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The company has a market capitalization of $394.00 billion, a price-to-earnings ratio of 109.85, a PEG ratio of 0.69 and a beta of 0.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities 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.