Campbell Newman Asset Management Inc. Increases Position in AbbVie Inc. (NYSE:ABBV)

Campbell Newman Asset Management Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 0.2% in the first quarter, HoldingsChannel.com reports. The firm owned 164,118 shares of the company’s stock after purchasing an additional 310 shares during the quarter. AbbVie comprises about 2.9% of Campbell Newman Asset Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Campbell Newman Asset Management Inc.’s holdings in AbbVie were worth $34,386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EnRich Financial Partners LLC grew its position in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie during the fourth quarter worth $31,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the fourth quarter worth $32,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after buying an additional 119,141 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.9%

Shares of AbbVie stock opened at $190.67 on Friday. The firm has a market cap of $336.80 billion, a price-to-earnings ratio of 79.45, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The stock has a 50-day simple moving average of $184.21 and a 200-day simple moving average of $187.49.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the business earned $2.31 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent analyst reports. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Evercore ISI raised their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Guggenheim raised their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

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.