Guerra Advisors Inc Increases Stake in AbbVie Inc. $ABBV

Guerra Advisors Inc grew its stake in AbbVie Inc. (NYSE:ABBV) by 45.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,071 shares of the company’s stock after purchasing an additional 4,678 shares during the period. AbbVie comprises approximately 1.3% of Guerra Advisors Inc’s investment portfolio, making the stock its 26th largest holding. Guerra Advisors Inc’s holdings in AbbVie were worth $3,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ogorek Anthony Joseph NY ADV lifted its stake in shares of AbbVie by 21.6% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 1,939 shares of the company’s stock valued at $448,000 after purchasing an additional 344 shares during the period. Strategy Asset Managers LLC increased its holdings in AbbVie by 5.4% in the third quarter. Strategy Asset Managers LLC now owns 1,945 shares of the company’s stock valued at $450,000 after buying an additional 99 shares in the last quarter. Woodmont Investment Counsel LLC raised its position in shares of AbbVie by 0.3% in the third quarter. Woodmont Investment Counsel LLC now owns 23,365 shares of the company’s stock worth $5,410,000 after acquiring an additional 65 shares during the period. Greykasell Wealth Strategies Inc. raised its position in shares of AbbVie by 5.7% in the third quarter. Greykasell Wealth Strategies Inc. now owns 5,422 shares of the company’s stock worth $1,255,000 after acquiring an additional 292 shares during the period. Finally, Bridges Investment Management Inc. boosted its stake in shares of AbbVie by 1.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 192,089 shares of the company’s stock worth $44,476,000 after acquiring an additional 2,117 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $223.02 on Monday. AbbVie Inc. has a fifty-two week low of $164.39 and a fifty-two week high of $244.81. The stock’s fifty day moving average is $224.40 and its two-hundred day moving average is $218.66. The firm has a market capitalization of $394.15 billion, a P/E ratio of 168.95, a PEG ratio of 0.92 and a beta of 0.36.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share 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 the consensus estimate of $15.58 billion. During the same period last year, the firm posted $3.00 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of analyst reports. Morgan Stanley upped their price target on AbbVie from $261.00 to $269.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and upped their target price for the stock from $225.00 to $265.00 in a research note on Wednesday, December 10th. BMO Capital Markets reissued an “outperform” rating and issued a $258.00 price target on shares of AbbVie in a research note on Thursday, January 15th. Raymond James Financial set a $256.00 price target on shares of AbbVie in a report on Monday, November 3rd. Finally, Scotiabank initiated coverage on shares of AbbVie in a report on Thursday, November 13th. They set a “sector outperform” rating and a $280.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.37.

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.