AbbVie Inc. $ABBV Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp raised its position in AbbVie Inc. (NYSE:ABBV) by 13.9% during the third quarter, Holdings Channel reports. The firm owned 260,239 shares of the company’s stock after buying an additional 31,706 shares during the quarter. Jones Financial Companies Lllp’s holdings in AbbVie were worth $57,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Norges Bank acquired a new position in AbbVie in the 2nd quarter valued at about $4,288,200,000. Laurel Wealth Advisors LLC boosted its stake in shares of AbbVie by 18,384.4% in the second quarter. Laurel Wealth Advisors LLC now owns 5,705,964 shares of the company’s stock valued at $1,059,141,000 after purchasing an additional 5,675,095 shares during the period. Vanguard Group Inc. grew its holdings in shares of AbbVie by 1.9% in the second quarter. Vanguard Group Inc. now owns 177,298,707 shares of the company’s stock valued at $32,910,186,000 after purchasing an additional 3,380,842 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of AbbVie by 169.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,722,893 shares of the company’s stock valued at $876,662,000 after purchasing an additional 2,969,202 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in AbbVie by 41.8% during the 2nd quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock worth $1,733,222,000 after buying an additional 2,753,312 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV opened at $225.76 on Tuesday. The company has a market capitalization of $399.01 billion, a price-to-earnings ratio of 171.03, a price-to-earnings-growth ratio of 0.92 and a beta of 0.35. The business has a 50-day moving average of $224.33 and a two-hundred day moving average of $218.90. AbbVie Inc. has a 1 year low of $164.39 and a 1 year high of $244.81.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The business had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the business posted $3.00 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, January 21st. Raymond James Financial set a $256.00 target price on AbbVie in a report on Monday, November 3rd. UBS Group reissued a “neutral” rating on shares of AbbVie in a research note on Tuesday, January 13th. JPMorgan Chase & Co. increased their price target on AbbVie from $250.00 to $260.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $258.00 price objective on shares of AbbVie in a research note on Thursday, January 15th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.17.

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.