E&G Advisors LP lowered its position in shares of AbbVie Inc (NYSE:ABBV) by 31.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,900 shares of the company’s stock after selling 1,800 shares during the period. E&G Advisors LP’s holdings in AbbVie were worth $347,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Acropolis Investment Management LLC bought a new position in shares of AbbVie in the 2nd quarter worth about $106,000. Hudock Capital Group LLC increased its stake in shares of AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares in the last quarter. Ffcm LLC increased its stake in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares in the last quarter. Bristlecone Advisors LLC bought a new position in shares of AbbVie in the 3rd quarter worth about $113,000. Finally, BDO Wealth Advisors LLC purchased a new stake in AbbVie during the 2nd quarter valued at about $115,000. 69.22% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the transaction, the chairman now owns 492,030 shares in the company, valued at approximately $46,255,740.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Severino sold 25,633 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the transaction, the executive vice president now owns 114,922 shares in the company, valued at approximately $10,881,964.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 476,376 shares of company stock worth $45,580,873. Insiders own 0.23% of the company’s stock.
ABBV has been the topic of a number of research reports. Societe Generale raised their price objective on shares of AbbVie in a report on Tuesday, November 21st. BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research report on Thursday, January 11th. Jefferies Group lifted their price objective on shares of AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. ValuEngine lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Barclays boosted their target price on shares of AbbVie to $90.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $102.57.
AbbVie Inc (NYSE ABBV) opened at $123.21 on Monday. The stock has a market cap of $196,410.00, a PE ratio of 29.91, a PEG ratio of 1.26 and a beta of 1.53. AbbVie Inc has a fifty-two week low of $59.27 and a fifty-two week high of $125.86. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. AbbVie’s revenue for the quarter was up 13.9% on a year-over-year basis. sell-side analysts forecast that AbbVie Inc will post 5.56 EPS for the current year.
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AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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