L.M. Kohn & Company Has $935,000 Stock Position in AbbVie Inc. $ABBV

L.M. Kohn & Company trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 43.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,037 shares of the company’s stock after selling 3,158 shares during the period. AbbVie accounts for approximately 1.1% of L.M. Kohn & Company’s investment portfolio, making the stock its 24th biggest position. L.M. Kohn & Company’s holdings in AbbVie were worth $935,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after buying an additional 3,064 shares during the last quarter. Pure Financial Advisors LLC grew its stake in shares of AbbVie by 27.0% during the second quarter. Pure Financial Advisors LLC now owns 9,564 shares of the company’s stock worth $1,775,000 after buying an additional 2,035 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of AbbVie during the second quarter valued at about $488,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of AbbVie by 12.7% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 5,007 shares of the company’s stock worth $929,000 after purchasing an additional 566 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 1.2%

Shares of 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 company has a market cap of $394.15 billion, a price-to-earnings ratio of 168.95, a PEG ratio of 0.91 and a beta of 0.36. The firm’s fifty day moving average is $224.40 and its 200 day moving average is $218.24.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, topping 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 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 10th. Citigroup lowered their target price on shares of AbbVie from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday. Cantor Fitzgerald set a $250.00 price target on shares of AbbVie and gave the company an “overweight” rating in a research report on Thursday, October 9th. Bank of America upped their price objective on shares of AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Finally, Raymond James Financial set a $256.00 price target on shares of AbbVie in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.37.

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.