MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $36.93 Million Holdings in AbbVie Inc. (NYSE:ABBV)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,272 shares of the company’s stock after buying an additional 925 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in AbbVie were worth $36,933,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ABBV. Tallon Kerry Patrick bought a new position in AbbVie during the fourth quarter worth $309,000. Capital & Planning LLC increased its stake in AbbVie by 1.7% in the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock valued at $1,109,000 after purchasing an additional 105 shares in the last quarter. LaFleur & Godfrey LLC increased its stake in AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after purchasing an additional 3,108 shares in the last quarter. Brighton Jones LLC increased its stake in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Finally, Revolve Wealth Partners LLC increased its stake in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.9%

AbbVie stock opened at $190.67 on Friday. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The stock has a market cap of $336.80 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The firm’s 50-day simple moving average is $184.21 and its 200 day simple moving average is $187.52. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ABBV shares. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were 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 in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

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.