Focus Partners Advisor Solutions LLC Buys 13,993 Shares of AbbVie Inc. $ABBV

Focus Partners Advisor Solutions LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,223 shares of the company’s stock after acquiring an additional 13,993 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in AbbVie were worth $11,476,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Chelsea Counsel Co. bought a new position in shares of AbbVie during the third quarter valued at $26,000. Westend Capital Management LLC bought a new position in shares of AbbVie during the fourth quarter valued at $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of AbbVie in the third quarter valued at $31,000. Legacy Wealth Managment LLC ID increased its stake in shares of AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC increased its stake in shares of AbbVie by 160.4% in the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock valued at $32,000 after buying an additional 85 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 1.9%

Shares of ABBV stock opened at $223.00 on Tuesday. The stock has a 50-day moving average price of $210.09 and a 200 day moving average price of $219.18. The firm has a market cap of $394.00 billion, a price-to-earnings ratio of 109.85, a PEG ratio of 0.69 and a beta of 0.32. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the company earned $2.46 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Barclays assumed coverage on AbbVie in a research note on Thursday, February 19th. They issued an “overweight” rating and a $275.00 target price for the company. Evercore set a $235.00 target price on AbbVie in a research note on Friday, May 15th. William Blair restated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Royal Bank Of Canada assumed coverage on AbbVie in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.43.

AbbVie Company 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.