Integrity Alliance LLC. Boosts Holdings in AbbVie Inc. $ABBV

Integrity Alliance LLC. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 77.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 24,985 shares of the company’s stock after purchasing an additional 10,918 shares during the period. Integrity Alliance LLC.’s holdings in AbbVie were worth $5,709,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Brighton Jones LLC grew its position in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC grew its position in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. grew its position in AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after purchasing an additional 789 shares during the last quarter. Ieq Capital LLC grew its position in AbbVie by 4.6% during the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after purchasing an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after purchasing an additional 612,702 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup lowered their price objective on shares of AbbVie from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 27th. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a research report on Thursday, February 5th. Morgan Stanley raised their price objective on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $253.43.

Insider Buying and Selling at AbbVie

In other news, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the sale, the senior vice president owned 2,654 shares of the company’s stock, valued at $619,868.24. The trade was a 66.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by insiders.

AbbVie Stock Down 1.3%

Shares of NYSE:ABBV opened at $212.79 on Wednesday. The company has a market cap of $375.96 billion, a price-to-earnings ratio of 104.82, a PEG ratio of 0.74 and a beta of 0.32. The firm’s 50-day simple moving average is $208.39 and its 200-day simple moving average is $219.70. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie 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.