Janney Capital Management LLC Purchases 1,377 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Janney Capital Management LLC lifted its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 144,008 shares of the company’s stock after acquiring an additional 1,377 shares during the period. AbbVie accounts for about 1.6% of Janney Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Janney Capital Management LLC’s holdings in AbbVie were worth $21,466,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of AbbVie by 0.3% in the 2nd quarter. BlackRock Inc. now owns 139,161,796 shares of the company’s stock worth $18,749,269,000 after acquiring an additional 440,286 shares in the last quarter. State Street Corp boosted its stake in AbbVie by 1.5% during the 2nd quarter. State Street Corp now owns 78,182,567 shares of the company’s stock valued at $10,533,537,000 after purchasing an additional 1,156,130 shares during the last quarter. Capital International Investors boosted its stake in AbbVie by 0.9% during the 2nd quarter. Capital International Investors now owns 43,152,741 shares of the company’s stock valued at $5,813,873,000 after purchasing an additional 404,379 shares during the last quarter. Geode Capital Management LLC boosted its stake in AbbVie by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 34,952,938 shares of the company’s stock valued at $4,697,046,000 after purchasing an additional 907,917 shares during the last quarter. Finally, Morgan Stanley boosted its stake in AbbVie by 17.9% during the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock valued at $5,102,311,000 after purchasing an additional 4,785,277 shares during the last quarter. Institutional investors own 67.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ABBV. UBS Group cut their target price on AbbVie from $157.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and dropped their price target for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. Raymond James raised their price target on AbbVie from $177.00 to $181.00 and gave the stock an “outperform” rating in a research note on Friday, December 1st. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Barclays raised their price target on AbbVie from $170.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.13.

Get Our Latest Report on AbbVie

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 2,912 shares of AbbVie stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $154.72, for a total value of $450,544.64. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $8,649,312.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.6 %

NYSE ABBV traded up $1.08 on Friday, hitting $168.67. 7,870,521 shares of the stock were exchanged, compared to its average volume of 4,794,196. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $172.85. The firm has a market capitalization of $303.61 billion, a P/E ratio of 61.78, a P/E/G ratio of 3.01 and a beta of 0.57. The stock has a fifty day moving average price of $156.52 and a two-hundred day moving average price of $150.12. The company has a debt-to-equity ratio of 4.59, a quick ratio of 0.84 and a current ratio of 0.96.

AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 152.70% and a net margin of 11.81%. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the company earned $3.60 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Research analysts forecast that AbbVie Inc. will post 11.11 EPS for the current fiscal year.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

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