AbbVie Inc. $ABBV Shares Acquired by Harold Davidson & Associates Inc.

Harold Davidson & Associates Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 21.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,201 shares of the company’s stock after acquiring an additional 2,338 shares during the period. AbbVie accounts for 1.3% of Harold Davidson & Associates Inc.’s investment portfolio, making the stock its 19th largest holding. Harold Davidson & Associates Inc.’s holdings in AbbVie were worth $3,016,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Eclectic Associates Inc. ADV grew its stake in AbbVie by 0.8% in the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock valued at $1,337,000 after acquiring an additional 45 shares during the last quarter. Weil Company Inc. grew its stake in AbbVie by 2.3% in the 3rd quarter. Weil Company Inc. now owns 2,026 shares of the company’s stock valued at $469,000 after acquiring an additional 46 shares during the last quarter. Hardin Capital Partners LLC grew its stake in AbbVie by 1.4% in the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after acquiring an additional 46 shares during the last quarter. Dogwood Wealth Management LLC grew its stake in AbbVie by 10.8% in the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock valued at $108,000 after acquiring an additional 46 shares during the last quarter. Finally, Quantum Private Wealth LLC grew its stake in AbbVie by 2.0% in the 4th quarter. Quantum Private Wealth LLC now owns 2,376 shares of the company’s stock valued at $543,000 after acquiring an additional 46 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ABBV shares. Piper Sandler increased their price objective on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $240.00 target price on shares of AbbVie in a report on Thursday, April 30th. Wall Street Zen upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. UBS Group reduced their target price on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a report on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Trading Up 0.9%

NYSE:ABBV opened at $217.24 on Thursday. The firm has a market cap of $383.82 billion, a price-to-earnings ratio of 107.02, a price-to-earnings-growth ratio of 0.66 and a beta of 0.32. The company’s 50-day moving average is $209.03 and its two-hundred day moving average is $219.35. AbbVie Inc. has a 12-month low of $181.73 and a 12-month 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 company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The UK drug-cost watchdog recommended AbbVie’s ovarian cancer therapy Elahere for patients with a hard-to-treat form of ovarian cancer, boosting the drug’s commercial prospects in a key market. British drug-cost watchdog recommends use of AbbVie’s ovarian cancer therapy
• Positive Sentiment: AbbVie won EU approval for AQUIPTA (atogepant) as an acute treatment for migraine in adults, adding a second approved migraine indication and expanding the drug’s revenue opportunity. AbbVie Gets EU Nod for Aquipta as Acute Treatment for Migraine
• Positive Sentiment: The European Commission also authorized an expanded label for VENCLYXTO, which could broaden use in combination therapies and support oncology sales. AbbVie Inc. (ABBV) Announces EC Authorization of Expanded Label for VENCLYXTO®
• Positive Sentiment: AbbVie’s update on a Japan safety study for RINVOQ drew attention to ongoing development and post-market monitoring, though the details appear to be part of routine clinical follow-up rather than a major catalyst. AbbVie’s RINVOQ Safety Study In Japan
• Neutral Sentiment: AbbVie also said it will present at the Goldman Sachs healthcare conference next week, which usually keeps investors focused on management commentary but is not a direct business update. AbbVie to Present at the Goldman Sachs 47th Annual Global Healthcare Conference

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.