AbbVie Inc. $ABBV Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 4th quarter, HoldingsChannel reports. The fund owned 841,699 shares of the company’s stock after acquiring an additional 6,916 shares during the period. King Luther Capital Management Corp’s holdings in AbbVie were worth $192,320,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Eclectic Associates Inc. ADV boosted its stake in shares of AbbVie by 0.8% during the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock valued at $1,337,000 after buying an additional 45 shares during the last quarter. Weil Company Inc. raised its holdings in AbbVie by 2.3% in the third quarter. Weil Company Inc. now owns 2,026 shares of the company’s stock valued at $469,000 after acquiring an additional 46 shares in the last quarter. Hardin Capital Partners LLC raised its holdings in AbbVie by 1.4% in the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after acquiring an additional 46 shares in the last quarter. Dogwood Wealth Management LLC boosted its stake in AbbVie by 10.8% during the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock valued at $108,000 after acquiring an additional 46 shares during the last quarter. Finally, Quantum Private Wealth LLC boosted its stake in AbbVie by 2.0% during the 4th quarter. Quantum Private Wealth LLC now owns 2,376 shares of the company’s stock valued at $543,000 after acquiring an additional 46 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $212.79 on Wednesday. AbbVie Inc. has a one year low of $181.73 and a one year high of $244.81. The company has a 50-day simple moving average of $208.39 and a 200-day simple moving average of $219.70. The firm has a market capitalization of $375.96 billion, a PE ratio of 104.82, a price-to-earnings-growth ratio of 0.74 and a beta of 0.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share 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 firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current year.

Analyst Ratings Changes

ABBV has been the subject of several research analyst reports. William Blair reissued an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research note on Thursday, February 5th. Royal Bank Of Canada initiated coverage on AbbVie in a report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price objective for the company. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.43.

Insider Activity

In related news, SVP David Ryan Purdue sold 5,230 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.