35,662 Shares in AbbVie Inc. $ABBV Bought by Titan Wealth CI Ltd

Titan Wealth CI Ltd bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 35,662 shares of the company’s stock, valued at approximately $8,148,000. AbbVie makes up approximately 3.1% of Titan Wealth CI Ltd’s portfolio, making the stock its 17th largest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of Jackson Hole Trust lifted its position in shares of AbbVie by 0.6% in the fourth quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock worth $1,648,000 after buying an additional 44 shares in the last quarter. Eclectic Associates Inc. ADV grew its holdings in AbbVie by 0.8% during the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock valued at $1,337,000 after buying an additional 45 shares in the last quarter. Hardin Capital Partners LLC grew its holdings in AbbVie by 1.4% during the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after buying an additional 46 shares in the last quarter. Dogwood Wealth Management LLC increased its stake in AbbVie by 10.8% in the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock worth $108,000 after acquiring an additional 46 shares during the last quarter. Finally, Quantum Private Wealth LLC raised its holdings in shares of AbbVie by 2.0% during the 4th quarter. Quantum Private Wealth LLC now owns 2,376 shares of the company’s stock worth $543,000 after acquiring an additional 46 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.5%

AbbVie stock opened at $222.62 on Wednesday. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The firm has a 50-day moving average price of $211.58 and a 200-day moving average price of $218.89. The firm has a market capitalization of $393.33 billion, a PE ratio of 109.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the company posted $2.46 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. William Blair reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Finally, Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

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.