Livelsberger Financial Advisory Invests $626,000 in AbbVie Inc. (NYSE:ABBV)

Livelsberger Financial Advisory bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 4,039 shares of the company’s stock, valued at approximately $626,000.

A number of other hedge funds also recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the 4th quarter valued at about $26,000. Able Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie in the 4th quarter valued at about $37,000. Clarity Asset Management Inc. bought a new stake in AbbVie in the 4th quarter valued at about $42,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in AbbVie in the 4th quarter valued at about $44,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Wednesday, June 5th. Piper Sandler lifted their target price on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Stock Up 1.0 %

Shares of NYSE ABBV opened at $171.35 on Wednesday. The firm has a market capitalization of $302.58 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 2.16 and a beta of 0.60. The business has a 50-day moving average of $163.58 and a 200-day moving average of $166.38. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.