Godshalk Welsh Capital Management Inc. lowered its stake in AbbVie Inc (NYSE:ABBV) by 8.8% during the third quarter, HoldingsChannel reports. The firm owned 8,308 shares of the company’s stock after selling 800 shares during the quarter. Godshalk Welsh Capital Management Inc.’s holdings in AbbVie were worth $738,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of ABBV. Bristlecone Advisors LLC purchased a new position in shares of AbbVie in the 3rd quarter valued at about $113,000. Ffcm LLC increased its holdings in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares during the last quarter. Hudock Capital Group LLC increased its holdings in shares of AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares during the last quarter. Hershey Trust Co. purchased a new position in shares of AbbVie in the 3rd quarter valued at about $139,000. Finally, BDO Wealth Advisors LLC purchased a new position in shares of AbbVie in the 2nd quarter valued at about $115,000. 69.54% of the stock is currently owned by institutional investors.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Severino sold 25,633 shares of AbbVie stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the transaction, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The disclosure for this sale can be found here. Insiders sold a total of 476,376 shares of company stock worth $45,580,873 over the last quarter. Company insiders own 0.23% of the company’s stock.
A number of research firms have recently commented on ABBV. Argus increased their price objective on AbbVie from $120.00 to $145.00 and gave the company a “buy” rating in a report on Friday. ValuEngine upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley increased their price objective on AbbVie from $99.00 to $131.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Evercore ISI reiterated a “buy” rating and issued a $144.00 price objective on shares of AbbVie in a report on Monday, January 29th. Finally, Credit Suisse Group set a $135.00 price objective on AbbVie and gave the company a “hold” rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $117.26.
AbbVie Inc (NYSE:ABBV) opened at $109.51 on Tuesday. The stock has a market capitalization of $183,860.83, a P/E ratio of 20.60, a P/E/G ratio of 1.09 and a beta of 1.60. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie Inc has a 12 month low of $60.05 and a 12 month high of $125.86.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. The firm had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. analysts expect that AbbVie Inc will post 7.46 earnings per share for the current fiscal year.
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AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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