Crawford Investment Counsel Inc. Has $204.17 Million Stock Position in AbbVie Inc. $ABBV

Crawford Investment Counsel Inc. cut its position in AbbVie Inc. (NYSE:ABBV) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 893,576 shares of the company’s stock after selling 17,123 shares during the quarter. AbbVie accounts for about 3.3% of Crawford Investment Counsel Inc.’s holdings, making the stock its 3rd biggest holding. Crawford Investment Counsel Inc.’s holdings in AbbVie were worth $204,173,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares during the last quarter. State Street Corp raised its position in AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC raised its position in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after purchasing an additional 4,190,487 shares during the last quarter. Norges Bank bought a new position in AbbVie in the fourth quarter valued at about $5,865,055,000. Finally, Capital Research Global Investors increased its stake in shares of AbbVie by 0.7% in the fourth quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock valued at $5,805,530,000 after buying an additional 177,370 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Piper Sandler increased their price target on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target for the company in a research note on Thursday, April 30th. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, Guggenheim reissued a “buy” rating and issued a $249.00 price target on shares of AbbVie in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Stock Performance

Shares of ABBV stock opened at $222.62 on Wednesday. The company has a market cap of $393.33 billion, a P/E ratio of 109.67, a PEG ratio of 0.68 and a beta of 0.32. The stock has a 50 day simple moving average of $211.58 and a two-hundred day simple moving average of $218.89. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion during 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 period in the previous year, the company posted $2.46 earnings per share. On average, research analysts predict that AbbVie Inc. will post 14.3 earnings per share 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.