AbbVie Inc. $ABBV Shares Acquired by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 119.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,277 shares of the company’s stock after purchasing an additional 53,045 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in AbbVie were worth $22,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chelsea Counsel Co. acquired a new position in shares of AbbVie during the 3rd quarter worth $26,000. Westend Capital Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth $29,000. Texas Capital Bancshares Inc TX acquired a new position in shares of AbbVie during the 3rd quarter worth $31,000. Legacy Wealth Managment LLC ID grew its stake in shares of AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares during the period. Finally, WestEnd Advisors LLC grew its stake in shares of AbbVie by 160.4% during the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after purchasing an additional 85 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABBV. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a research note on Thursday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $240.00 price target on shares of AbbVie in a research note on Thursday, April 30th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 17th. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Finally, Evercore set a $235.00 price objective on shares of AbbVie in a research report on Friday, May 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $253.43.

View Our Latest Report on ABBV

AbbVie Stock Up 1.2%

AbbVie stock opened at $214.86 on Friday. AbbVie Inc. has a 52 week low of $180.25 and a 52 week high of $244.81. The firm’s 50-day simple moving average is $208.95 and its 200 day simple moving average is $219.71. The firm has a market capitalization of $379.60 billion, a PE ratio of 105.84, a P/E/G ratio of 0.73 and a beta of 0.32.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the previous year, the firm earned $2.46 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

Insider Transactions at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 22,381 shares of the company’s 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 in the company, valued at approximately $8,771,510. This represents a 36.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Ryan Purdue sold 5,230 shares of the company’s 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 owned 2,654 shares in the company, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is currently owned by corporate insiders.

About AbbVie

(Free Report)

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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