HealthCor Management L.P. reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 24.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 749,410 shares of the company’s stock after selling 236,910 shares during the period. AbbVie comprises 2.4% of HealthCor Management L.P.’s holdings, making the stock its 19th largest position. HealthCor Management L.P.’s holdings in AbbVie were worth $72,475,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Truewealth LLC acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $126,000. Delpha Capital Management LLC acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $131,000. Virtue Capital Management LLC acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $139,000. Trustcore Financial Services LLC acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $148,000. Finally, Premia Global Advisors LLC acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $155,000. 70.30% of the stock is currently owned by institutional investors.
In other AbbVie news, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Robert A. Michael sold 4,294 shares of AbbVie stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $119.43, for a total value of $512,832.42. Following the completion of the sale, the vice president now owns 11,170 shares in the company, valued at approximately $1,334,033.10. The disclosure for this sale can be found here. Insiders sold 211,197 shares of company stock worth $24,585,575 in the last 90 days. Company insiders own 0.07% of the company’s stock.
NYSE ABBV opened at $105.32 on Friday. The firm has a market cap of $166.69 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 0.99 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 8.70. AbbVie Inc. has a fifty-two week low of $104.20 and a fifty-two week high of $104.97.
AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 26th. The company reported $1.87 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.08. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The company had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.60 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. equities analysts anticipate that AbbVie Inc. will post 7.8 EPS for the current year.
AbbVie announced that its board has approved a share buyback plan on Thursday, February 15th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
ABBV has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price target on AbbVie from $95.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, March 23rd. Jefferies Group set a $125.00 price target on AbbVie and gave the stock a “buy” rating in a research note on Friday, March 23rd. Credit Suisse Group lowered their price target on AbbVie from $109.00 to $98.10 and set a “neutral” rating on the stock in a research note on Friday, March 23rd. Bank of America set a $120.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Monday, March 26th. Finally, Morgan Stanley lowered their price target on AbbVie from $131.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday, April 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $116.38.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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