AbbVie Inc. (NYSE:ABBV) is Lynch & Associates IN’s 7th Largest Position

Lynch & Associates IN cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,015 shares of the company’s stock after selling 4,443 shares during the quarter. AbbVie accounts for about 3.0% of Lynch & Associates IN’s investment portfolio, making the stock its 7th largest holding. Lynch & Associates IN’s holdings in AbbVie were worth $12,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Lokken Investment Group LLC boosted its position in shares of AbbVie by 3.6% during the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after buying an additional 58 shares during the period. Aspen Wealth Strategies LLC boosted its holdings in shares of AbbVie by 0.5% in the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares during the period. Marks Group Wealth Management Inc boosted its holdings in shares of AbbVie by 2.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after purchasing an additional 63 shares during the period. Avion Wealth boosted its holdings in shares of AbbVie by 11.9% in the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares during the period. Finally, White Pine Capital LLC boosted its holdings in shares of AbbVie by 1.2% in the fourth quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after purchasing an additional 65 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Thursday. Piper Sandler increased their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. BMO Capital Markets decreased their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Stock Performance

NYSE ABBV opened at $172.13 on Friday. The stock has a 50-day simple moving average of $163.72 and a two-hundred day simple moving average of $166.45. The firm has a market capitalization of $303.96 billion, a P/E ratio of 51.08, a PEG ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last posted 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. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period last year, the firm earned $2.46 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie 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.