AbbVie Inc. (NYSE:ABBV) Stock Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 18.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,360 shares of the company’s stock after buying an additional 3,083 shares during the period. AbbVie makes up about 0.7% of GAMMA Investing LLC’s investment portfolio, making the stock its 19th largest holding. GAMMA Investing LLC’s holdings in AbbVie were worth $3,526,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie during the 4th quarter valued at $26,000. Able Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter valued at $33,000. IFS Advisors LLC acquired a new stake in AbbVie during the 1st quarter valued at $36,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie in the fourth quarter worth $37,000. Finally, Clarity Asset Management Inc. acquired a new position in shares of AbbVie in the fourth quarter worth $42,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $171.36 on Thursday. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The firm has a market capitalization of $302.60 billion, a PE ratio of 50.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.60. The firm has a 50-day moving average price of $163.63 and a 200 day moving average price of $166.41.

AbbVie (NYSE:ABBV) last posted its quarterly 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. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the business posted $2.46 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts anticipate that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Barclays decreased their price objective on shares of 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 decreased their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Piper Sandler upped their price objective on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

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.