AbbVie Inc. (NYSE:ABBV) Shares Acquired by Donaldson Capital Management LLC

Donaldson Capital Management LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 480,632 shares of the company’s stock after buying an additional 10,896 shares during the period. AbbVie accounts for about 3.8% of Donaldson Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Donaldson Capital Management LLC’s holdings in AbbVie were worth $100,702,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Crestline Management LP boosted its holdings in AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after buying an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP raised its position in AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP boosted its holdings in AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after purchasing an additional 276 shares in the last quarter. AXA S.A. raised its stake in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group lifted its stake in shares of AbbVie by 0.9% in the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock worth $3,190,000 after buying an additional 161 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABBV. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Wells Fargo & Company increased their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target on the stock. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

NYSE ABBV opened at $189.31 on Wednesday. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The business has a 50 day simple moving average of $183.68 and a 200 day simple moving average of $187.29. The stock has a market cap of $334.40 billion, a price-to-earnings ratio of 78.88, a PEG ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share 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 analysts’ expectations of $12.91 billion. During the same period last year, the business earned $2.31 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

About AbbVie

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.