Rothschild Wealth LLC Raises Position in AbbVie Inc. $ABBV

Rothschild Wealth LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,379 shares of the company’s stock after acquiring an additional 3,446 shares during the quarter. Rothschild Wealth LLC’s holdings in AbbVie were worth $5,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares during the period. State Street Corp increased its holdings in AbbVie by 1.4% in the 4th quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after acquiring an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after buying an additional 4,190,487 shares during the last quarter. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter worth about $5,865,055,000. Finally, Capital Research Global Investors increased its holdings in shares of AbbVie by 0.7% in the 4th quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock worth $5,805,530,000 after buying an additional 177,370 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 0.5%

NYSE ABBV opened at $222.62 on Wednesday. The firm has a market cap of $393.33 billion, a PE ratio of 109.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32. The company has a 50 day moving average price of $211.58 and a 200 day moving average price of $218.89. AbbVie Inc. has a 52 week low of $181.73 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS 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 during the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the previous year, the business posted $2.46 EPS. AbbVie’s revenue was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. William Blair reissued an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Morgan Stanley boosted their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Guggenheim restated a “buy” rating and issued a $249.00 price target on shares of AbbVie in a report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

About AbbVie

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.