Elm Partners Management LLC Buys 2,609 Shares of AbbVie Inc. $ABBV

Elm Partners Management LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 134.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,546 shares of the company’s stock after acquiring an additional 2,609 shares during the period. Elm Partners Management LLC’s holdings in AbbVie were worth $1,053,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Physician Wealth Advisors Inc. raised its position in AbbVie by 66.7% in the third quarter. Physician Wealth Advisors Inc. now owns 960 shares of the company’s stock valued at $222,000 after purchasing an additional 384 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of AbbVie by 1.2% in the third quarter. Raleigh Capital Management Inc. now owns 16,844 shares of the company’s stock valued at $3,900,000 after buying an additional 193 shares during the period. Finer Wealth Management Inc. bought a new position in AbbVie in the 3rd quarter valued at approximately $237,000. Callan Family Office LLC boosted its position in AbbVie by 18.2% during the 3rd quarter. Callan Family Office LLC now owns 41,354 shares of the company’s stock worth $9,575,000 after buying an additional 6,354 shares during the period. Finally, Brown Wealth Management LLC grew its holdings in AbbVie by 13.6% during the 3rd quarter. Brown Wealth Management LLC now owns 1,511 shares of the company’s stock worth $350,000 after acquiring an additional 181 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several analyst reports. Hsbc Global Res raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. Citigroup decreased their price objective on AbbVie from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Scotiabank assumed coverage on AbbVie in a report on Thursday, November 13th. They set a “sector outperform” rating and a $280.00 target price on the stock. Erste Group Bank cut AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Finally, Piper Sandler restated an “overweight” rating and set a $289.00 price objective (up from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $251.17.

AbbVie Trading Up 1.2%

ABBV stock opened at $225.76 on Tuesday. The firm has a market cap of $399.01 billion, a PE ratio of 171.03, a price-to-earnings-growth ratio of 0.92 and a beta of 0.35. The stock has a 50-day moving average price of $224.33 and a 200-day moving average price 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 earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.77 by $0.09. The business had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.00 earnings per share. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie 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.