Harold Davidson & Associates Inc. Grows Holdings in AbbVie Inc. $ABBV

Harold Davidson & Associates Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,201 shares of the company’s stock after purchasing an additional 2,338 shares during the quarter. AbbVie comprises 1.3% of Harold Davidson & Associates Inc.’s investment portfolio, making the stock its 19th largest holding. Harold Davidson & Associates Inc.’s holdings in AbbVie were worth $3,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cibc World Market Inc. raised its position in AbbVie by 5.7% in the 4th quarter. Cibc World Market Inc. now owns 694,415 shares of the company’s stock valued at $158,667,000 after purchasing an additional 37,143 shares during the last quarter. Intellectus Partners LLC raised its position in AbbVie by 5.5% during the 4th quarter. Intellectus Partners LLC now owns 6,474 shares of the company’s stock worth $1,479,000 after buying an additional 335 shares during the last quarter. Greenspring Advisors LLC raised its position in AbbVie by 139.9% during the 4th quarter. Greenspring Advisors LLC now owns 6,023 shares of the company’s stock worth $1,376,000 after buying an additional 3,512 shares during the last quarter. Evolution Wealth Management Inc. raised its position in AbbVie by 505.9% during the 4th quarter. Evolution Wealth Management Inc. now owns 612 shares of the company’s stock worth $140,000 after buying an additional 511 shares during the last quarter. Finally, Archvest Wealth Advisors Inc. purchased a new position in AbbVie during the 4th quarter worth $621,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.9%

NYSE:ABBV opened at $217.24 on Thursday. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81. The stock has a market cap of $383.82 billion, a PE ratio of 107.02, a price-to-earnings-growth ratio of 0.66 and a beta of 0.32. The firm’s fifty day simple moving average is $209.03 and its 200-day simple moving average is $219.35.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABBV shares. Piper Sandler upped their price objective on shares of AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Morgan Stanley upped their price objective on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a research report on Thursday, April 30th. Royal Bank Of Canada started coverage on shares of AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price objective for the company. Finally, DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The UK drug-cost watchdog recommended AbbVie’s ovarian cancer therapy Elahere for patients with a hard-to-treat form of ovarian cancer, boosting the drug’s commercial prospects in a key market. British drug-cost watchdog recommends use of AbbVie’s ovarian cancer therapy
• Positive Sentiment: AbbVie won EU approval for AQUIPTA (atogepant) as an acute treatment for migraine in adults, adding a second approved migraine indication and expanding the drug’s revenue opportunity. AbbVie Gets EU Nod for Aquipta as Acute Treatment for Migraine
• Positive Sentiment: The European Commission also authorized an expanded label for VENCLYXTO, which could broaden use in combination therapies and support oncology sales. AbbVie Inc. (ABBV) Announces EC Authorization of Expanded Label for VENCLYXTO®
• Positive Sentiment: AbbVie’s update on a Japan safety study for RINVOQ drew attention to ongoing development and post-market monitoring, though the details appear to be part of routine clinical follow-up rather than a major catalyst. AbbVie’s RINVOQ Safety Study In Japan
• Neutral Sentiment: AbbVie also said it will present at the Goldman Sachs healthcare conference next week, which usually keeps investors focused on management commentary but is not a direct business update. AbbVie to Present at the Goldman Sachs 47th Annual Global Healthcare Conference

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.