Cigna Investments Inc. New boosted its position in AbbVie Inc (NYSE:ABBV) by 9.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,001 shares of the company’s stock after buying an additional 3,816 shares during the period. Cigna Investments Inc. New’s holdings in AbbVie were worth $3,276,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Blair William & Co. IL lifted its holdings in AbbVie by 3.8% in the first quarter. Blair William & Co. IL now owns 929,065 shares of the company’s stock valued at $70,785,000 after buying an additional 33,851 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in AbbVie by 30.8% in the first quarter. Sequoia Financial Advisors LLC now owns 34,687 shares of the company’s stock valued at $2,643,000 after buying an additional 8,176 shares during the period. MainStreet Investment Advisors LLC lifted its holdings in AbbVie by 7.2% in the first quarter. MainStreet Investment Advisors LLC now owns 124,506 shares of the company’s stock valued at $9,486,000 after buying an additional 8,341 shares during the period. Banco Santander S.A. lifted its holdings in AbbVie by 40.9% in the first quarter. Banco Santander S.A. now owns 15,444 shares of the company’s stock valued at $1,177,000 after buying an additional 4,483 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in AbbVie by 21.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 420,339 shares of the company’s stock valued at $32,026,000 after buying an additional 74,043 shares during the period. Institutional investors and hedge funds own 72.17% of the company’s stock.
Shares of NYSE:ABBV traded down $0.92 during midday trading on Friday, hitting $92.10. 5,505,076 shares of the company’s stock were exchanged, compared to its average volume of 13,435,240. The stock has a 50 day moving average price of $83.08 and a 200-day moving average price of $85.44. The company has a market cap of $137.37 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.97 and a beta of 0.82. AbbVie Inc has a 12 month low of $62.55 and a 12 month high of $97.86.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.17. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the previous year, the company earned $2.14 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts expect that AbbVie Inc will post 10.7 EPS for the current fiscal year.
ABBV has been the subject of several research analyst reports. SVB Leerink lifted their price target on shares of AbbVie from $107.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Mizuho reaffirmed a “buy” rating and issued a $100.00 price target on shares of AbbVie in a research note on Friday, May 1st. Barclays initiated coverage on shares of AbbVie in a research note on Thursday, February 27th. They issued an “equal weight” rating and a $97.00 price target for the company. JPMorgan Chase & Co. raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price target for the company in a research note on Tuesday, May 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price target on shares of AbbVie in a research note on Monday, May 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $98.23.
In other news, Director Edward J. Rapp purchased 2,875 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average cost of $91.75 per share, for a total transaction of $263,781.25. Also, SVP Jeffrey Ryan Stewart sold 23,024 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the transaction, the senior vice president now owns 52,760 shares in the company, valued at $4,748,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 8,825 shares of company stock worth $671,852. 0.09% of the stock is owned by corporate insiders.
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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