7,722 Shares in AbbVie Inc. $ABBV Bought by Titan Investment Solutions Ltd

Titan Investment Solutions Ltd acquired a new position in shares of AbbVie Inc. (NYSE:ABBVFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,722 shares of the company’s stock, valued at approximately $1,764,000.

Other hedge funds have also added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new stake in AbbVie during the 3rd quarter worth $26,000. Litman Gregory Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth $28,000. Westend Capital Management LLC acquired a new stake in AbbVie during the 4th quarter worth $29,000. IFC & Insurance Marketing Inc. acquired a new stake in AbbVie during the 4th quarter worth $31,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in AbbVie during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV opened at $227.54 on Friday. The business’s 50-day moving average price is $211.05 and its two-hundred day moving average price is $219.07. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81. The company has a market capitalization of $402.02 billion, a price-to-earnings ratio of 112.09, a P/E/G ratio of 0.69 and a beta of 0.32.

AbbVie (NYSE:ABBVGet Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 576.45% and a net margin of 5.79%.AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABBV has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Monday. Guggenheim reaffirmed a “buy” rating and set a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Canaccord Genuity Group raised their price objective on AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Royal Bank Of Canada started coverage on AbbVie in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price target on the stock. Finally, DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Three investment 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

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AbbVie Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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