Blair William & Co. IL lifted its position in AbbVie Inc (NYSE:ABBV) by 3.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 929,065 shares of the company’s stock after buying an additional 33,851 shares during the period. Blair William & Co. IL owned approximately 0.06% of AbbVie worth $70,785,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter worth $1,352,805,000. Renaissance Technologies LLC raised its position in shares of AbbVie by 61.5% during the fourth quarter. Renaissance Technologies LLC now owns 11,796,744 shares of the company’s stock worth $1,044,484,000 after purchasing an additional 4,490,046 shares during the period. Bank of New York Mellon Corp raised its position in shares of AbbVie by 23.0% during the first quarter. Bank of New York Mellon Corp now owns 18,590,115 shares of the company’s stock worth $1,416,380,000 after purchasing an additional 3,480,190 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of AbbVie by 580.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,055,609 shares of the company’s stock worth $359,006,000 after purchasing an additional 3,459,683 shares during the period. Finally, FMR LLC raised its position in shares of AbbVie by 7.8% during the fourth quarter. FMR LLC now owns 40,238,885 shares of the company’s stock worth $3,562,751,000 after purchasing an additional 2,928,045 shares during the period. 72.17% of the stock is currently owned by institutional investors.
In other news, EVP Timothy J. Richmond sold 19,445 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $1,652,825.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Durkin purchased 3,750 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were bought at an average price of $68.82 per share, with a total value of $258,075.00. Following the purchase, the vice president now owns 15,294 shares in the company, valued at approximately $1,052,533.08. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 8,825 shares of company stock valued at $671,852. 0.09% of the stock is currently owned by corporate insiders.
NYSE ABBV traded down $0.92 on Friday, reaching $92.10. The stock had a trading volume of 5,505,076 shares, compared to its average volume of 13,435,240. The business has a 50 day moving average price of $83.08 and a 200 day moving average price of $85.44. AbbVie Inc has a 1 year low of $62.55 and a 1 year high of $97.86. The company has a market capitalization of $137.37 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 1.97 and a beta of 0.82.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 1st. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.17. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc will post 10.7 EPS for the current year.
A number of equities research analysts have recently issued reports on ABBV shares. UBS Group cut their target price on AbbVie from $106.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 14th. SVB Leerink lifted their price target on AbbVie from $107.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Barclays started coverage on AbbVie in a report on Thursday, February 27th. They set an “equal weight” rating and a $97.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price target on the stock in a report on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. AbbVie currently has an average rating of “Buy” and an average price target of $98.23.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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