Harbour Investments Inc. lifted its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 576.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,035 shares of the company’s stock after buying an additional 146,611 shares during the period. AbbVie comprises 0.8% of Harbour Investments Inc.’s holdings, making the stock its 19th largest position. Harbour Investments Inc.’s holdings in AbbVie were worth $39,308,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. boosted its stake in shares of AbbVie by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock worth $41,155,601,000 after buying an additional 448,554 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of AbbVie by 17.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,044,690 shares of the company’s stock worth $241,888,000 after buying an additional 151,644 shares during the last quarter. Thornburg Investment Management Inc. boosted its stake in shares of AbbVie by 25.5% during the 3rd quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock worth $93,024,000 after buying an additional 81,625 shares during the last quarter. Channing Capital Management LLC boosted its stake in shares of AbbVie by 10.5% during the 3rd quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock worth $12,885,000 after buying an additional 5,302 shares during the last quarter. Finally, Procyon Advisors LLC boosted its stake in shares of AbbVie by 19.9% during the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after buying an additional 5,427 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other AbbVie news, EVP Perry C. Siatis sold 22,381 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total value of $5,147,630.00. Following the transaction, the executive vice president directly owned 38,137 shares of the company’s stock, valued at $8,771,510. This represents a 36.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the transaction, the senior vice president directly owned 2,654 shares in the company, valued at approximately $619,868.24. This represents a 66.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.06% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
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AbbVie Stock Up 0.1%
AbbVie stock opened at $216.02 on Tuesday. The stock has a market cap of $381.65 billion, a P/E ratio of 106.41, a P/E/G ratio of 0.74 and a beta of 0.32. AbbVie Inc. has a twelve month low of $181.71 and a twelve month high of $244.81. The company’s 50-day moving average price is $208.53 and its two-hundred day moving average price is $219.73.
AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. Equities analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.
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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