Ferguson Wellman Capital Management Inc. Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Ferguson Wellman Capital Management Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 18.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 651,818 shares of the company’s stock after buying an additional 102,399 shares during the period. AbbVie makes up about 2.4% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Ferguson Wellman Capital Management Inc.’s holdings in AbbVie were worth $118,696,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in AbbVie during the 4th quarter valued at $3,229,888,000. International Assets Investment Management LLC acquired a new stake in AbbVie during the 4th quarter valued at $499,955,000. Capital International Investors raised its stake in AbbVie by 6.0% during the 4th 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. Massachusetts Financial Services Co. MA grew its holdings in shares of AbbVie by 39.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after acquiring an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after acquiring an additional 1,702,415 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ABBV shares. Piper Sandler boosted their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. BMO Capital Markets lowered their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Barclays lowered their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Cantor Fitzgerald started coverage on shares of AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Stock Down 0.1 %

AbbVie stock opened at $171.14 on Thursday. The firm has a market cap of $302.21 billion, a price-to-earnings ratio of 50.85, a P/E/G ratio of 2.19 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The firm has a fifty day moving average price of $163.63 and a two-hundred day moving average price of $166.41.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. As a group, analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Company 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.