AbbVie Inc. $ABBV Shares Acquired by Rothschild Wealth LLC

Rothschild Wealth LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 16.5% during the fourth quarter, HoldingsChannel reports. The firm owned 24,379 shares of the company’s stock after purchasing an additional 3,446 shares during the quarter. Rothschild Wealth LLC’s holdings in AbbVie were worth $5,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ABBV. Chelsea Counsel Co. acquired a new position in AbbVie during the 3rd quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at $28,000. Westend Capital Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at $29,000. Texas Capital Bancshares Inc TX purchased a new stake in shares of AbbVie in the 3rd quarter valued at $31,000. Finally, Legacy Wealth Managment LLC ID boosted its holdings in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.5%

ABBV opened at $222.62 on Wednesday. The company has a market cap of $393.33 billion, a price-to-earnings ratio of 109.67, a PEG ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81. The firm’s fifty day simple moving average is $211.58 and its two-hundred day simple moving average is $218.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 14.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABBV. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. William Blair reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Barclays began coverage on shares of AbbVie in a report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price objective on the stock. Finally, Piper Sandler upped their price objective on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $253.43.

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.