OMERS ADMINISTRATION Corp Has $24.37 Million Stake in AbbVie Inc. $ABBV

OMERS ADMINISTRATION Corp grew its holdings in AbbVie Inc. (NYSE:ABBV) by 24.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,675 shares of the company’s stock after purchasing an additional 20,693 shares during the period. OMERS ADMINISTRATION Corp’s holdings in AbbVie were worth $24,374,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in AbbVie by 0.3% in the third quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock worth $41,155,601,000 after buying an additional 448,554 shares during the last quarter. Thornburg Investment Management Inc. grew its holdings in AbbVie by 25.5% during the third 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 last quarter. Channing Capital Management LLC grew its holdings in AbbVie by 10.5% during the third 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 last quarter. Procyon Advisors LLC grew its holdings in AbbVie by 19.9% during the fourth 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 last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. grew its holdings in AbbVie by 358.1% during the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 14,746 shares of the company’s stock valued at $3,414,000 after purchasing an additional 11,527 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ABBV. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Barclays began coverage on AbbVie in a report on Thursday, February 19th. They set an “overweight” rating and a $275.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 price target on shares of AbbVie in a report on Thursday, April 30th. Piper Sandler increased their price target on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, William Blair reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $253.43.

AbbVie Stock Down 2.8%

NYSE ABBV opened at $221.42 on Tuesday. The stock has a market cap of $391.20 billion, a P/E ratio of 109.07, a PEG ratio of 0.70 and a beta of 0.32. The company’s 50-day simple moving average is $211.30 and its 200 day simple moving average is $218.93. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share 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 analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 earnings per share. Research analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Company Profile

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.