Moseley Investment Management Inc. Has $1.38 Million Stake in AbbVie Inc. (NYSE:ABBV)

Moseley Investment Management Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,573 shares of the company’s stock after purchasing an additional 71 shares during the quarter. Moseley Investment Management Inc.’s holdings in AbbVie were worth $1,379,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie in the 4th quarter valued at approximately $26,000. Able Wealth Management LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie in the fourth quarter worth $37,000. Clarity Asset Management Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth $42,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in AbbVie during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ABBV. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 price target on the stock. Piper Sandler increased their target price on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $179.64.

View Our Latest Stock Analysis on ABBV

AbbVie Trading Up 1.0 %

Shares of AbbVie stock opened at $171.36 on Wednesday. The stock has a market capitalization of $302.60 billion, a P/E ratio of 50.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.60. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a 50-day simple moving average of $163.58 and a 200 day simple moving average of $166.38.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the company earned $2.46 EPS. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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