AbbVie Inc. $ABBV Shares Bought by Blair William & Co. IL

Blair William & Co. IL grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,337,461 shares of the company’s stock after buying an additional 73,880 shares during the quarter. AbbVie makes up approximately 0.8% of Blair William & Co. IL’s portfolio, making the stock its 23rd largest holding. Blair William & Co. IL’s holdings in AbbVie were worth $305,596,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chelsea Counsel Co. purchased a new position in AbbVie during the 3rd quarter worth approximately $26,000. Litman Gregory Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $28,000. Westend Capital Management LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of AbbVie in the third quarter valued at approximately $31,000. Finally, Legacy Wealth Managment LLC ID grew its position in shares of AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Thursday, April 30th. Royal Bank Of Canada began coverage on shares of AbbVie in a research note on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Barclays started coverage on shares of AbbVie in a research note on Thursday, February 19th. They set an “overweight” rating and a $275.00 target price for the company. Finally, Piper Sandler raised their price target on AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Three equities research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $253.43.

AbbVie Stock Performance

Shares of ABBV opened at $222.62 on Wednesday. The stock has a market capitalization of $393.33 billion, a P/E ratio of 109.67, a P/E/G ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81. The company’s fifty day moving average is $211.58 and its two-hundred day moving average is $218.89.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping 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 company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter last year, the business earned $2.46 EPS. The business’s revenue was up 12.4% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 14.3 EPS for the current 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.