Siemens Fonds Invest GmbH Has $13.28 Million Holdings in AbbVie Inc. $ABBV

Siemens Fonds Invest GmbH lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 9.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 57,806 shares of the company’s stock after selling 6,370 shares during the quarter. AbbVie accounts for approximately 0.7% of Siemens Fonds Invest GmbH’s portfolio, making the stock its 20th biggest holding. Siemens Fonds Invest GmbH’s holdings in AbbVie were worth $13,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Titan Wealth CI Ltd acquired a new stake in AbbVie during the 4th quarter valued at approximately $8,148,000. Blair William & Co. IL lifted its holdings in shares of AbbVie by 5.8% in the 4th quarter. Blair William & Co. IL now owns 1,337,461 shares of the company’s stock worth $305,596,000 after purchasing an additional 73,880 shares in the last quarter. Graham Capital Management L.P. lifted its holdings in shares of AbbVie by 4.1% in the 4th quarter. Graham Capital Management L.P. now owns 7,152 shares of the company’s stock worth $1,634,000 after purchasing an additional 284 shares in the last quarter. Nicholas Wealth LLC. lifted its holdings in shares of AbbVie by 11.5% in the 4th quarter. Nicholas Wealth LLC. now owns 5,291 shares of the company’s stock worth $1,209,000 after purchasing an additional 547 shares in the last quarter. Finally, Silver Grove Financial Group Inc. lifted its holdings in shares of AbbVie by 15.2% in the 4th quarter. Silver Grove Financial Group Inc. now owns 1,798 shares of the company’s stock worth $411,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ABBV shares. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Morgan Stanley raised their price objective on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a research note on Thursday, April 30th. Finally, Evercore set a $235.00 price objective 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Price Performance

NYSE ABBV opened at $222.62 on Wednesday. The stock has a market capitalization of $393.33 billion, a price-to-earnings ratio of 109.67, a PEG ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a one year low of $181.73 and a one year high of $244.81. The business’s fifty day moving average is $211.58 and its 200-day moving average is $218.89.

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