Somerset Trust Co Acquires 153 Shares of AbbVie Inc. (NYSE:ABBV)

Somerset Trust Co raised its stake in AbbVie Inc. (NYSE:ABBV) by 8.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,943 shares of the company’s stock after buying an additional 153 shares during the period. Somerset Trust Co’s holdings in AbbVie were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ABBV. Aigen Investment Management LP purchased a new stake in shares of AbbVie during the 3rd quarter worth $986,000. Interchange Capital Partners LLC raised its stake in shares of AbbVie by 7.9% during the 3rd quarter. Interchange Capital Partners LLC now owns 1,865 shares of the company’s stock worth $278,000 after acquiring an additional 137 shares in the last quarter. Rathbones Group PLC lifted its position in AbbVie by 17.5% during the third quarter. Rathbones Group PLC now owns 109,206 shares of the company’s stock valued at $16,278,000 after acquiring an additional 16,280 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in AbbVie by 939.1% in the third quarter. V Square Quantitative Management LLC now owns 1,434 shares of the company’s stock worth $214,000 after purchasing an additional 1,296 shares during the last quarter. Finally, TFB Advisors LLC lifted its holdings in shares of AbbVie by 45.2% during the 3rd quarter. TFB Advisors LLC now owns 2,267 shares of the company’s stock valued at $338,000 after purchasing an additional 706 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 1.0 %

ABBV opened at $171.36 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a market cap 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 company has a 50-day moving average price of $163.63 and a 200 day moving average price of $166.41.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s revenue was up .7% compared to the same quarter last year. 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.

Wall Street Analyst Weigh In

ABBV has been the topic of several research analyst reports. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Piper Sandler increased their price target on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Finally, Cantor Fitzgerald started coverage on AbbVie in a report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price objective for the company. Two investment 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 company’s stock. Based on data from MarketBeat.com, AbbVie currently 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.