First Allied Advisory Services Inc. lifted its position in shares of AbbVie Inc (NYSE:ABBV) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,155 shares of the company’s stock after buying an additional 5,815 shares during the period. First Allied Advisory Services Inc.’s holdings in AbbVie were worth $6,850,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in ABBV. Prime Capital Investment Advisors LLC purchased a new stake in AbbVie during the 4th quarter worth $27,000. Penserra Capital Management LLC purchased a new stake in AbbVie during the 4th quarter worth $32,000. Larson Financial Group LLC purchased a new stake in AbbVie during the 4th quarter worth $37,000. Horrell Capital Management Inc. purchased a new stake in AbbVie during the 4th quarter worth $41,000. Finally, Capital Financial Planning LLC purchased a new stake in AbbVie during the 4th quarter worth $41,000. Institutional investors and hedge funds own 68.36% of the company’s stock.
NYSE:ABBV opened at $80.06 on Monday. The stock has a market capitalization of $118.36 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.64 and a beta of 1.14. AbbVie Inc has a 1-year low of $75.62 and a 1-year high of $103.16.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.08. The company had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.81 billion. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 EPS. As a group, equities research analysts predict that AbbVie Inc will post 8.81 earnings per share for the current year.
In other news, VP Brian L. Durkin sold 475 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $79.69, for a total transaction of $37,852.75. Following the transaction, the vice president now owns 9,121 shares of the company’s stock, valued at $726,852.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $80.00, for a total transaction of $2,000,000.00. Following the transaction, the insider now directly owns 139,838 shares in the company, valued at approximately $11,187,040. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,272 shares of company stock valued at $3,286,290. 0.08% of the stock is currently owned by corporate insiders.
A number of analysts recently weighed in on the stock. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Friday, March 15th. Barclays reaffirmed a “hold” rating and set a $86.00 price target on shares of AbbVie in a research report on Thursday, February 14th. Zacks Investment Research cut shares of AbbVie from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $71.00 to $79.00 in a research report on Sunday, April 28th. Finally, Credit Suisse Group set a $78.00 price objective on shares of AbbVie and gave the company a “sell” rating in a research report on Friday, April 26th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $94.95.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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