AbbVie Inc. $ABBV Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 421,298 shares of the company’s stock after acquiring an additional 34,384 shares during the quarter. Thrivent Financial for Lutherans’ holdings in AbbVie were worth $97,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Conning Inc. boosted its position in AbbVie by 7.1% in the 2nd quarter. Conning Inc. now owns 191,023 shares of the company’s stock worth $35,458,000 after purchasing an additional 12,690 shares in the last quarter. Diversified Trust Co lifted its stake in shares of AbbVie by 23.6% in the 3rd quarter. Diversified Trust Co now owns 57,076 shares of the company’s stock valued at $13,215,000 after purchasing an additional 10,891 shares during the period. Dohj LLC lifted its stake in shares of AbbVie by 41.8% in the 2nd quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after purchasing an additional 1,335 shares during the period. Permanent Capital Management LP purchased a new stake in AbbVie during the third quarter worth $720,000. Finally, Railway Pension Investments Ltd grew its position in AbbVie by 33.0% during the third quarter. Railway Pension Investments Ltd now owns 853,949 shares of the company’s stock valued at $197,723,000 after buying an additional 211,800 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of AbbVie from $250.00 to $260.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $289.00 price target (up previously from $284.00) on shares of AbbVie in a report on Wednesday, November 5th. Cantor Fitzgerald set a $250.00 price target on AbbVie and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.37.

AbbVie Trading Up 1.2%

NYSE:ABBV opened at $223.02 on Friday. The stock has a 50 day moving average of $224.40 and a two-hundred day moving average of $218.46. AbbVie Inc. has a 12 month low of $164.39 and a 12 month high of $244.81. The firm has a market cap of $394.15 billion, a P/E ratio of 168.95, a price-to-earnings-growth ratio of 0.91 and a beta of 0.36.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.09. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The business had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter last year, the business posted $3.00 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

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.