L.M. Kohn & Company Decreases Stock Position in AbbVie Inc. $ABBV

L.M. Kohn & Company trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 43.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,037 shares of the company’s stock after selling 3,158 shares during the period. AbbVie comprises about 1.1% of L.M. Kohn & Company’s portfolio, making the stock its 24th largest holding. L.M. Kohn & Company’s holdings in AbbVie were worth $935,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Evolution Wealth Management Inc. purchased a new position in shares of AbbVie in the second quarter worth approximately $26,000. Spurstone Advisory Services LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at $28,000. Financial Gravity Companies Inc. bought a new stake in AbbVie during the second quarter valued at about $36,000. Bear Mountain Capital Inc. raised its stake in AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares during the period. Finally, Delos Wealth Advisors LLC bought a new stake in shares of AbbVie during the second quarter valued at approximately $39,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABBV. Scotiabank assumed coverage on AbbVie in a report on Thursday, November 13th. They set a “sector outperform” rating and a $280.00 price target for the company. The Goldman Sachs Group restated a “neutral” rating and set a $223.00 target price on shares of AbbVie in a research report on Wednesday. DZ Bank lowered AbbVie from a “buy” rating to a “hold” rating and set a $237.00 price target for the company. in a research report on Tuesday, November 4th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $225.00 to $265.00 in a research note on Wednesday, December 10th. Finally, UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $249.37.

AbbVie Price Performance

Shares of AbbVie stock opened at $223.02 on Friday. The firm’s 50-day moving average is $224.40 and its two-hundred day moving average is $218.24. AbbVie Inc. has a 1 year low of $164.39 and a 1 year high of $244.81. The stock has a market cap of $394.15 billion, a price-to-earnings ratio of 168.95, a PEG ratio of 0.91 and a beta of 0.36.

AbbVie (NYSE:ABBV) last released its quarterly 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 firm had revenue of $15.78 billion during the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.00 EPS. On average, equities analysts expect 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.