Duncan Williams Asset Management LLC Invests $325,000 in AbbVie Inc. (NYSE:ABBV)

Duncan Williams Asset Management LLC purchased a new stake in AbbVie Inc. (NYSE:ABBVFree Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,785 shares of the company’s stock, valued at approximately $325,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie in the fourth quarter valued at $26,000. Able Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $37,000. Clarity Asset Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $42,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in shares of AbbVie during the fourth quarter worth approximately $44,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABBV has been the subject of several research reports. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Cantor Fitzgerald started coverage on AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective for the company. Piper Sandler lifted their target price on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $179.64.

Read Our Latest Analysis on AbbVie

AbbVie Stock Up 1.0 %

AbbVie stock opened at $171.35 on Wednesday. The firm has a market capitalization of $302.58 billion, a price-to-earnings ratio of 50.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock’s fifty day moving average is $163.58 and its two-hundred day moving average is $166.38.

AbbVie (NYSE:ABBVGet Free Report) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the firm posted $2.46 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

AbbVie 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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