LFG Wealth Partners LLC Purchases Shares of 6,198 AbbVie Inc. $ABBV

LFG Wealth Partners LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,198 shares of the company’s stock, valued at approximately $1,416,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Oarsman Capital Inc. grew its holdings in shares of AbbVie by 4.5% in the fourth quarter. Oarsman Capital Inc. now owns 19,056 shares of the company’s stock worth $4,354,000 after purchasing an additional 825 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings in AbbVie by 24.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 106,675 shares of the company’s stock valued at $24,374,000 after buying an additional 20,693 shares during the last quarter. Sofinnova Investments Inc. raised its holdings in AbbVie by 110.5% during the 4th quarter. Sofinnova Investments Inc. now owns 317,783 shares of the company’s stock valued at $72,610,000 after buying an additional 166,817 shares during the last quarter. Zinnia Wealth Advisory LLC purchased a new stake in AbbVie during the 4th quarter valued at $817,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in AbbVie by 3.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 293,534 shares of the company’s stock valued at $67,070,000 after buying an additional 9,546 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $221.42 on Tuesday. The company has a 50-day simple moving average of $211.30 and a two-hundred day simple moving average of $218.93. The firm has a market capitalization of $391.20 billion, a PE ratio of 109.07, a price-to-earnings-growth ratio of 0.70 and a beta of 0.32. AbbVie Inc. has a one year low of $181.73 and a one year high of $244.81.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on ABBV shares. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. William Blair reissued an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $240.00 price target on shares of AbbVie in a research report on Thursday, April 30th. Finally, DZ Bank upgraded 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 issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.43.

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.