LFG Wealth Partners LLC Purchases New Holdings in AbbVie Inc. $ABBV

LFG Wealth Partners LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,198 shares of the company’s stock, valued at approximately $1,416,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in AbbVie by 5.0% in the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after acquiring an additional 789 shares in the last quarter. Ieq Capital LLC grew its stake in shares of AbbVie by 4.6% in the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after acquiring an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings in shares of AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after acquiring an additional 612,702 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $221.42 on Tuesday. AbbVie Inc. has a 1-year low of $181.73 and a 1-year high of $244.81. The stock has a market capitalization of $391.20 billion, a price-to-earnings ratio of 109.07, a PEG ratio of 0.70 and a beta of 0.32. The business’s fifty day moving average price is $211.30 and its 200-day moving average price is $218.93.

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

Analysts Set New Price Targets

ABBV has been the topic of a number of analyst reports. Morgan Stanley upped their price target on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. William Blair reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Piper Sandler upped their price objective on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Evercore set a $235.00 target price on AbbVie in a research note on Friday, May 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.