AbbVie Inc. $ABBV Shares Sold by Sollinda Capital Management LLC

Sollinda Capital Management LLC cut its stake in AbbVie Inc. (NYSE:ABBV) by 82.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,664 shares of the company’s stock after selling 12,759 shares during the period. Sollinda Capital Management LLC’s holdings in AbbVie were worth $617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of AbbVie by 1.9% during the second quarter. Vanguard Group Inc. now owns 177,298,707 shares of the company’s stock worth $32,910,186,000 after buying an additional 3,380,842 shares during the period. Geode Capital Management LLC raised its stake in AbbVie by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 39,178,351 shares of the company’s stock valued at $7,240,169,000 after acquiring an additional 924,761 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 6.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,783,329 shares of the company’s stock worth $4,970,848,000 after acquiring an additional 1,517,222 shares during the period. Norges Bank acquired a new position in AbbVie during the 2nd quarter worth $4,288,200,000. Finally, Raymond James Financial Inc. increased its holdings in shares of AbbVie by 41.8% during the second quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock valued at $1,733,222,000 after purchasing an additional 2,753,312 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABBV. BMO Capital Markets reaffirmed an “outperform” rating and issued a $258.00 price objective on shares of AbbVie in a report on Thursday, January 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $223.00 price target on shares of AbbVie in a research note on Wednesday, January 28th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Scotiabank assumed coverage on AbbVie in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $280.00 target price for the company. Finally, UBS Group reiterated a “neutral” rating on shares of AbbVie in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.17.

AbbVie Stock Performance

NYSE ABBV opened at $225.76 on Tuesday. The stock has a market capitalization of $399.01 billion, a P/E ratio of 171.03, a P/E/G ratio of 0.92 and a beta of 0.35. The business’s fifty day moving average is $224.33 and its two-hundred day moving average is $218.90. AbbVie Inc. has a 1 year low of $164.39 and a 1 year high of $244.81.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The company had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the firm earned $3.00 earnings per share. AbbVie’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

About AbbVie

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.