Crawford Investment Counsel Inc. Has $204.17 Million Position in AbbVie Inc. $ABBV

by · The Markets Daily

Crawford Investment Counsel Inc. trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 893,576 shares of the company’s stock after selling 17,123 shares during the quarter. AbbVie comprises about 3.3% of Crawford Investment Counsel Inc.’s portfolio, making the stock its 3rd biggest holding. Crawford Investment Counsel Inc. owned approximately 0.05% of AbbVie worth $204,173,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Chelsea Counsel Co. bought a new stake in shares of AbbVie during the 3rd quarter valued at $26,000. Litman Gregory Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $28,000. Westend Capital Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $29,000. IFC & Insurance Marketing Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $31,000. Finally, Texas Capital Bancshares Inc TX bought a new stake in shares of AbbVie during the 3rd quarter valued at $31,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 0.5%

Shares of ABBV stock opened at $222.62 on Wednesday. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The company has a market cap of $393.33 billion, a P/E ratio of 109.67, a P/E/G ratio of 0.68 and a beta of 0.32. The business has a fifty day simple moving average of $211.58 and a 200 day simple moving average of $218.89.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on ABBV. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Barclays initiated coverage on AbbVie in a research report on Thursday, February 19th. They set an “overweight” rating and a $275.00 price objective for the company. Piper Sandler upped their price objective on AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada initiated coverage on AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

Read Our Latest Report on ABBV

AbbVie Company Profile

(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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