12,757 Shares in AbbVie Inc. $ABBV Bought by Total Wealth Planning & Management Inc.

Total Wealth Planning & Management Inc. acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,757 shares of the company’s stock, valued at approximately $2,915,000. AbbVie accounts for 2.2% of Total Wealth Planning & Management Inc.’s holdings, making the stock its 5th biggest holding.

Several other hedge funds have also added to or reduced their stakes in ABBV. Vanguard Group Inc. raised its stake in shares of AbbVie by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock valued at $41,155,601,000 after purchasing an additional 448,554 shares during the period. Public Sector Pension Investment Board raised its stake in shares of AbbVie by 17.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,044,690 shares of the company’s stock valued at $241,888,000 after purchasing an additional 151,644 shares during the period. Thornburg Investment Management Inc. raised its stake in shares of AbbVie by 25.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock valued at $93,024,000 after purchasing an additional 81,625 shares during the period. Channing Capital Management LLC raised its stake in shares of AbbVie by 10.5% in the 3rd quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock valued at $12,885,000 after purchasing an additional 5,302 shares during the period. Finally, Procyon Advisors LLC raised its stake in shares of AbbVie by 19.9% in the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock valued at $7,484,000 after purchasing an additional 5,427 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $224.81 on Friday. The stock’s 50-day simple moving average is $209.43 and its 200 day simple moving average is $219.30. The company has a market cap of $397.19 billion, a P/E ratio of 110.74, a P/E/G ratio of 0.66 and a beta of 0.32. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie won U.K. NHS backing for Elahere, its ovarian cancer therapy, and Reuters reported the British drug-cost watchdog recommended the treatment for a hard-to-treat form of ovarian cancer, improving access and potential sales in a key market. British drug-cost watchdog recommends use of AbbVie’s ovarian cancer therapy
• Positive Sentiment: The company also received European Commission approval for Aquipta to treat migraine, adding a second approved migraine indication and broadening the drug’s commercial opportunity. AbbVie receives EC approval for Aquipta to treat migraine
• Positive Sentiment: Analyst coverage also highlighted AbbVie’s oncology strategy after Decnupaz approval, signaling that management is building a larger antibody-drug conjugate pipeline that could create longer-term upside. Does Decnupaz Approval Validate ABBV’s ADC Strategy in Oncology?
• Neutral Sentiment: Several recent clinical-study updates, including completion of an upadacitinib study in China and a bioavailability study for ABBV-932, suggest steady pipeline progress, but they are not immediate revenue catalysts. AbbVie Completes Real World Upadacitinib Study in China: What Investors Should Watch AbbVie Advances ABBV-932 With Completed Bioavailability Study
• Negative Sentiment: AbbVie also ended an early-stage lung cancer trial for ABBV-647, which trims one potential oncology growth driver and adds some caution around pipeline execution. AbbVie Ends Early Lung Cancer Trial for ABBV-647

Analyst Upgrades and Downgrades

Several analysts have issued reports on ABBV shares. William Blair reissued an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Wall Street Zen raised AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. Morgan Stanley lifted their price target on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Barclays started coverage on AbbVie in a research note on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target on the stock. Finally, Evercore set a $235.00 price target on AbbVie in a research note on Friday, May 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.