AbbVie Inc. $ABBV Shares Bought by Tsfg LLC

Tsfg LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,432 shares of the company’s stock after acquiring an additional 3,250 shares during the quarter. AbbVie accounts for approximately 4.5% of Tsfg LLC’s portfolio, making the stock its 4th largest position. Tsfg LLC’s holdings in AbbVie were worth $28,580,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABBV. Brighton Jones LLC increased its holdings in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Merit Financial Group LLC boosted its stake in AbbVie by 34.8% during the 2nd quarter. Merit Financial Group LLC now owns 79,581 shares of the company’s stock valued at $14,772,000 after purchasing an additional 20,548 shares during the last quarter. Three Bridge Wealth Advisors LLC purchased a new stake in shares of AbbVie in the second quarter worth approximately $495,000. Finally, Grimes & Company Inc. grew its holdings in AbbVie by 2.1% during the second quarter. Grimes & Company Inc. now owns 105,278 shares of the company’s stock worth $19,542,000 after buying an additional 2,172 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $225.76 on Tuesday. AbbVie Inc. has a fifty-two week low of $164.39 and a fifty-two week high of $244.81. The firm’s fifty day moving average price is $224.33 and its 200-day moving average price is $218.90. The stock has a market cap of $399.01 billion, a P/E ratio of 171.03, a PEG ratio of 0.92 and a beta of 0.35.

AbbVie (NYSE:ABBV) last released its quarterly 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 firm had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter last year, the firm posted $3.00 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABBV. Berenberg Bank set a $275.00 price objective on shares of AbbVie in a research report on Tuesday, January 20th. Piper Sandler restated an “overweight” rating and set a $289.00 price objective (up previously from $284.00) on shares of AbbVie in a report on Wednesday, November 5th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. DZ Bank downgraded AbbVie from a “buy” rating to a “hold” rating and set a $237.00 target price for the company. in a research report on Tuesday, November 4th. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the company from $225.00 to $265.00 in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $251.17.

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.