Captrust Financial Advisors Buys 13,113 Shares of AbbVie Inc. $ABBV

Captrust Financial Advisors grew its stake in AbbVie Inc. (NYSE:ABBV) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,487,949 shares of the company’s stock after acquiring an additional 13,113 shares during the period. AbbVie accounts for approximately 0.6% of Captrust Financial Advisors’ holdings, making the stock its 29th largest position. Captrust Financial Advisors owned approximately 0.08% of AbbVie worth $339,981,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ABBV. Brighton Jones LLC grew its holdings in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. grew its holdings in AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after purchasing an additional 789 shares during the period. Ieq Capital LLC grew its holdings in AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after purchasing an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its position in AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after buying an additional 612,702 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABBV shares. Evercore set a $235.00 price objective on AbbVie in a research note on Friday, May 15th. Guggenheim reissued a “buy” rating and set a $249.00 target price on shares of AbbVie in a report on Friday, May 1st. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Canaccord Genuity Group boosted their target price on AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Royal Bank Of Canada started coverage on AbbVie in a report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Stock Up 0.5%

Shares of NYSE:ABBV opened at $222.62 on Wednesday. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The stock has a market cap of $393.33 billion, a PE ratio of 109.67, a P/E/G ratio of 0.68 and a beta of 0.32. The business has a 50 day moving average of $211.58 and a 200-day moving average of $218.89.

AbbVie (NYSE:ABBV) last posted 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 company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. Equities research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current 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.