AbbVie Inc. $ABBV Shares Bought by Donaldson Capital Management LLC

Donaldson Capital Management LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 482,231 shares of the company’s stock after purchasing an additional 4,744 shares during the quarter. AbbVie comprises 3.5% of Donaldson Capital Management LLC’s portfolio, making the stock its 6th largest position. Donaldson Capital Management LLC’s holdings in AbbVie were worth $111,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its position in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in AbbVie by 12.7% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,007 shares of the company’s stock valued at $929,000 after purchasing an additional 566 shares during the last quarter. Greenwood Capital Associates LLC acquired a new position in AbbVie during the 2nd quarter valued at about $844,000. Finally, Stock Yards Bank & Trust Co. grew its position in AbbVie by 0.9% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 62,815 shares of the company’s stock worth $11,660,000 after purchasing an additional 572 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ABBV shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Wednesday, January 21st. Guggenheim raised their target price on AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. lifted their target price on AbbVie from $250.00 to $260.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Citigroup decreased their price target on AbbVie from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Finally, Erste Group Bank cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $249.37.

AbbVie Stock Up 1.2%

Shares of AbbVie stock opened at $223.02 on Friday. The business has a fifty day simple moving average of $224.40 and a 200-day simple moving average of $218.46. AbbVie Inc. has a fifty-two week low of $164.39 and a fifty-two week high of $244.81. The firm has a market cap of $394.15 billion, a price-to-earnings ratio of 168.95, a price-to-earnings-growth ratio of 0.91 and a beta of 0.36.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.77 by $0.09. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. The firm had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the previous year, the business earned $3.00 earnings per share. AbbVie’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie 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.