Siemens Fonds Invest GmbH Sells 6,370 Shares of AbbVie Inc. $ABBV

Siemens Fonds Invest GmbH lowered its stake in AbbVie Inc. (NYSE:ABBV) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,806 shares of the company’s stock after selling 6,370 shares during the quarter. AbbVie makes up approximately 0.7% of Siemens Fonds Invest GmbH’s investment portfolio, making the stock its 20th largest position. Siemens Fonds Invest GmbH’s holdings in AbbVie were worth $13,280,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Chelsea Counsel Co. bought a new position in shares of AbbVie in the third quarter worth about $26,000. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth about $28,000. Westend Capital Management LLC bought a new position in shares of AbbVie in the fourth quarter worth about $29,000. IFC & Insurance Marketing Inc. bought a new position in shares of AbbVie in the fourth quarter worth about $31,000. Finally, Texas Capital Bancshares Inc TX bought a new position in shares of AbbVie in the third quarter worth about $31,000. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ABBV. Royal Bank Of Canada began coverage on shares of AbbVie in a report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 target price for the company. Morgan Stanley increased their target price on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $240.00 price objective on shares of AbbVie in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Stock Performance

Shares of NYSE ABBV 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 firm has a 50 day moving average price of $211.58 and a two-hundred day moving average price of $218.89. The stock has a market cap of $393.33 billion, a P/E ratio of 109.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32.

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

AbbVie Company 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.