IndexIQ Advisors LLC grew its position in shares of AbbVie Inc (NYSE:ABBV) by 28.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,387 shares of the company’s stock after buying an additional 11,760 shares during the quarter. IndexIQ Advisors LLC’s holdings in AbbVie were worth $4,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hoey Investments Inc. bought a new position in shares of AbbVie in the 4th quarter valued at about $31,000. Edge Wealth Management LLC grew its stake in AbbVie by 106.1% in the third quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock worth $43,000 after purchasing an additional 295 shares in the last quarter. Massey Quick Simon & CO. LLC increased its holdings in AbbVie by 2,400.0% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock worth $47,000 after purchasing an additional 600 shares during the period. Selective Wealth Management Inc. purchased a new position in AbbVie during the 3rd quarter worth $48,000. Finally, Garrett Wealth Advisory Group LLC bought a new stake in AbbVie during the 3rd quarter valued at $50,000. 70.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. Citigroup increased their price target on AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada restated a “hold” rating and issued a $86.00 price objective on shares of AbbVie in a report on Thursday, January 23rd. ValuEngine lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Mizuho increased their target price on shares of AbbVie from $96.00 to $104.00 in a report on Monday. Finally, Cowen raised their target price on shares of AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. AbbVie presently has a consensus rating of “Hold” and an average price target of $88.51.
Shares of ABBV stock opened at $97.03 on Thursday. The stock’s 50-day moving average is $87.72 and its 200 day moving average is $78.97. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $97.86. The company has a market cap of $140.12 billion, a P/E ratio of 18.38, a PEG ratio of 2.18 and a beta of 0.96.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 7th. The company reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.02. AbbVie had a net margin of 23.69% and a negative return on equity of 162.37%. The business had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.68 billion. During the same period in the prior year, the firm posted $1.90 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts predict that AbbVie Inc will post 9.66 EPS for the current fiscal year.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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