AbbVie Inc. (NYSE:ABBV) Shares Bought by Campbell Newman Asset Management Inc.

Campbell Newman Asset Management Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 0.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,118 shares of the company’s stock after buying an additional 310 shares during the quarter. AbbVie makes up approximately 2.9% of Campbell Newman Asset Management Inc.’s investment portfolio, making the stock its 12th largest position. Campbell Newman Asset Management Inc.’s holdings in AbbVie were worth $34,386,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Tallon Kerry Patrick purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $309,000. Capital & Planning LLC boosted its position in AbbVie by 1.7% during the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock worth $1,109,000 after purchasing an additional 105 shares in the last quarter. LaFleur & Godfrey LLC boosted its position in AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock worth $14,109,000 after purchasing an additional 3,108 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC raised its holdings in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Wells Fargo & Company boosted their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Bank of America increased their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

ABBV stock opened at $190.67 on Friday. The stock has a market capitalization of $336.80 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company’s 50-day moving average is $184.21 and its 200-day moving average is $187.49. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the business posted $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.