BNP Paribas raised its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 62.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,270 shares of the company’s stock after acquiring an additional 30,139 shares during the period. BNP Paribas’ holdings in AbbVie were worth $17,885,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. bought a new stake in AbbVie during the 3rd quarter valued at $26,000. Westend Capital Management LLC bought a new stake in AbbVie during the 4th quarter valued at $29,000. Texas Capital Bancshares Inc TX bought a new stake in shares of AbbVie in the 3rd quarter worth $31,000. Legacy Wealth Managment LLC ID raised its stake in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after buying an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC raised its stake in shares of AbbVie by 160.4% in the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after buying an additional 85 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.
Insider Buying and Selling at AbbVie
In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the sale, the senior vice president owned 2,654 shares of the company’s stock, valued at $619,868.24. The trade was a 66.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.
AbbVie Price Performance
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 14.3 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on ABBV shares. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Guggenheim reaffirmed a “buy” rating and set a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. Morgan Stanley boosted their target price on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Canaccord Genuity Group boosted their target price on AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Barclays started coverage on AbbVie in a research report on Thursday, February 19th. They set an “overweight” rating and a $275.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $253.43.
Read Our Latest Report on ABBV
AbbVie Profile
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.
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