Lombard Odier Asset Management Switzerland SA Has $16.85 Million Position in AbbVie Inc. $ABBV

Lombard Odier Asset Management Switzerland SA grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 15.7% in the 4th quarter, Holdings Channel reports. The firm owned 73,758 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. AbbVie accounts for about 0.7% of Lombard Odier Asset Management Switzerland SA’s portfolio, making the stock its 22nd largest holding. Lombard Odier Asset Management Switzerland SA’s holdings in AbbVie were worth $16,853,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Thornburg Investment Management Inc. raised its position in shares of AbbVie by 25.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock worth $93,024,000 after acquiring an additional 81,625 shares in the last quarter. Channing Capital Management LLC raised its position in shares of AbbVie by 10.5% in the 3rd quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock worth $12,885,000 after acquiring an additional 5,302 shares in the last quarter. Procyon Advisors LLC raised its position in shares of AbbVie by 19.9% in the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after acquiring an additional 5,427 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. raised its position in shares of AbbVie by 358.1% in the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 14,746 shares of the company’s stock worth $3,414,000 after acquiring an additional 11,527 shares in the last quarter. Finally, Waycross Partners LLC raised its position in shares of AbbVie by 2.9% in the 4th quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock worth $41,694,000 after acquiring an additional 5,063 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ABBV shares. Guggenheim reiterated a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Morgan Stanley lifted their price objective on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $240.00 price objective on shares of AbbVie in a research note on Thursday, April 30th. Evercore set a $235.00 price objective on shares of AbbVie in a research note on Friday, May 15th. Finally, William Blair reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Three 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Trading Up 0.5%

ABBV opened at $222.62 on Wednesday. The company’s fifty day moving average price is $211.58 and its two-hundred day moving average price is $218.89. AbbVie Inc. has a 1-year low of $181.73 and a 1-year high of $244.81. The company has a market cap of $393.33 billion, a price-to-earnings ratio of 109.67, a PEG ratio of 0.68 and a beta of 0.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 14.3 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.