Focus Partners Advisor Solutions LLC Has $11.48 Million Stock Position in AbbVie Inc. $ABBV

Focus Partners Advisor Solutions LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 38.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 50,223 shares of the company’s stock after acquiring an additional 13,993 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in AbbVie were worth $11,476,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ABBV. Brighton Jones LLC grew its position in shares of 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 buying an additional 3,401 shares during the period. Revolve Wealth Partners LLC grew 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 period. Schnieders Capital Management LLC. grew its position in shares of AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after buying an additional 789 shares during the period. Ieq Capital LLC grew its position in shares of AbbVie by 4.6% during the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after buying an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its position in shares of AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after buying an additional 612,702 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ABBV shares. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price for the company in a research report on Thursday, April 30th. Royal Bank Of Canada initiated coverage on AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 target price for the company. Piper Sandler lifted their price objective on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, William Blair reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Price Performance

NYSE:ABBV opened at $223.00 on Tuesday. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81. The stock has a market capitalization of $394.00 billion, a PE ratio of 109.85, a price-to-earnings-growth ratio of 0.69 and a beta of 0.32. The business’s 50-day simple moving average is $210.09 and its 200-day simple moving average is $219.18.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share 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 analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 EPS. On average, research analysts expect 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.