Deutsche Bank AG Purchases 673,682 Shares of AbbVie Inc. $ABBV

Deutsche Bank AG increased its position in AbbVie Inc. (NYSE:ABBVFree Report) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,129,714 shares of the company’s stock after purchasing an additional 673,682 shares during the quarter. AbbVie makes up about 0.8% of Deutsche Bank AG’s portfolio, making the stock its 16th biggest position. Deutsche Bank AG’s holdings in AbbVie were worth $2,314,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Chelsea Counsel Co. bought a new stake in AbbVie during the 3rd quarter valued at $26,000. Westend Capital Management LLC bought a new stake in AbbVie during the 4th quarter valued at $29,000. Texas Capital Bancshares Inc TX bought a new stake in AbbVie during the 3rd quarter valued at $31,000. Legacy Wealth Managment LLC ID boosted its position in AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC boosted its position in AbbVie by 160.4% during the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock valued at $32,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $225.25 on Wednesday. The stock has a market capitalization of $397.97 billion, a price-to-earnings ratio of 110.96, a PEG ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a 1-year low of $181.73 and a 1-year high of $244.81. The business has a fifty day moving average price of $210.40 and a 200-day moving average price of $219.12.

AbbVie (NYSE:ABBVGet Free Report) 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. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABBV. Royal Bank Of Canada started coverage on AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 target price on the stock. Piper Sandler raised their price target on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Evercore set a $235.00 price objective on shares of AbbVie in a research report on Friday, May 15th. Guggenheim reiterated a “buy” rating and set a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Finally, Canaccord Genuity Group increased their target price on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $253.43.

Read Our Latest Stock Report on ABBV

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About AbbVie

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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