AbbVie Inc. (NYSE:ABBV) Shares Acquired by Foster Group Inc.

Foster Group Inc. grew its position in AbbVie Inc. (NYSE:ABBV) by 7.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,182 shares of the company’s stock after purchasing an additional 547 shares during the period. Foster Group Inc.’s holdings in AbbVie were worth $1,490,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABBV. Vanguard Group Inc. grew its holdings in AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares during the period. Capital International Investors grew its holdings in AbbVie by 6.0% in the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after purchasing an additional 2,542,463 shares during the period. Morgan Stanley grew its holdings in AbbVie by 2.9% in the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after purchasing an additional 914,485 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares during the period. Finally, Northern Trust Corp grew its holdings in AbbVie by 2.3% in the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after purchasing an additional 491,391 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 0.4 %

Shares of NYSE ABBV opened at $172.13 on Friday. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a fifty day simple moving average of $163.72 and a 200-day simple moving average of $166.45. The stock has a market capitalization of $303.96 billion, a PE ratio of 51.08, a PEG ratio of 2.19 and a beta of 0.60.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share 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 business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The company’s 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.

Analysts Set New Price Targets

Several analysts have commented on ABBV shares. BMO Capital Markets dropped their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Thursday. Piper Sandler lifted their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research 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 given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.64.

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.