MSH Capital Advisors LLC Increases Holdings in AbbVie Inc. $ABBV

MSH Capital Advisors LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 104.3% in the 4th quarter, HoldingsChannel reports. The firm owned 17,503 shares of the company’s stock after purchasing an additional 8,934 shares during the quarter. AbbVie makes up about 0.9% of MSH Capital Advisors LLC’s portfolio, making the stock its 28th largest position. MSH Capital Advisors LLC’s holdings in AbbVie were worth $3,999,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ABBV. Brighton Jones LLC raised its stake in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares during the period. Schnieders Capital Management LLC. grew its holdings in AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after acquiring an additional 789 shares during the period. Ieq Capital LLC grew its holdings in AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after acquiring an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its holdings in AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after acquiring an additional 612,702 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 22,381 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value of $5,147,630.00. Following the transaction, the executive vice president owned 38,137 shares of the company’s stock, valued at $8,771,510. This represents a 36.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the transaction, the senior vice president directly owned 2,654 shares in the company, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.06% of the company’s stock.

AbbVie Stock Up 0.1%

Shares of AbbVie stock opened at $216.02 on Tuesday. AbbVie Inc. has a 52 week low of $181.71 and a 52 week high of $244.81. The business’s fifty day simple moving average is $208.53 and its 200-day simple moving average is $219.73. The firm has a market cap of $381.65 billion, a PE ratio of 106.41, a price-to-earnings-growth ratio of 0.74 and a beta of 0.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the prior year, the company posted $2.46 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABBV. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $223.00 target price on shares of AbbVie in a report on Wednesday, January 28th. Barclays began coverage on AbbVie in a report on Thursday, February 19th. They set an “overweight” rating and a $275.00 target price on the stock. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Thursday, April 30th. Morgan Stanley raised their target price on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

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.