Country Trust Bank lowered its stake in AbbVie Inc (NYSE:ABBV) by 27.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,588 shares of the company’s stock after selling 1,348 shares during the period. Country Trust Bank’s holdings in AbbVie were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Savant Capital LLC raised its position in shares of AbbVie by 1.3% during the 2nd quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after acquiring an additional 793 shares in the last quarter. Princeton Capital Management Inc. acquired a new stake in shares of AbbVie during the 2nd quarter worth about $1,394,000. Palisade Asset Management LLC raised its position in shares of AbbVie by 17.9% during the 2nd quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after acquiring an additional 10,381 shares in the last quarter. Beaton Management Co. Inc. acquired a new stake in shares of AbbVie during the 2nd quarter worth about $528,000. Finally, Greatmark Investment Partners Inc. raised its position in shares of AbbVie by 3.7% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock worth $2,551,000 after acquiring an additional 1,242 shares in the last quarter. 69.28% of the stock is currently owned by institutional investors.
Shares of AbbVie Inc (NYSE ABBV) traded down $1.17 during mid-day trading on Friday, hitting $115.17. The company’s stock had a trading volume of 7,184,413 shares, compared to its average volume of 5,800,000. AbbVie Inc has a one year low of $60.05 and a one year high of $125.86. The stock has a market cap of $183,590.00, a P/E ratio of 27.95, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The company had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period last year, the business posted $1.20 EPS. The company’s revenue was up 13.9% on a year-over-year basis. research analysts expect that AbbVie Inc will post 7.46 EPS for the current year.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the sale, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael Severino sold 25,633 shares of AbbVie 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 completion of the sale, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The disclosure for this sale can be found here. Insiders sold a total of 476,376 shares of company stock worth $45,580,873 over the last quarter. Company insiders own 0.23% of the company’s stock.
A number of research firms recently issued reports on ABBV. Argus raised their price target on AbbVie from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday. ValuEngine upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley raised their price target on AbbVie from $99.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Evercore ISI restated a “buy” rating and set a $144.00 price target on shares of AbbVie in a research note on Monday. Finally, Credit Suisse Group set a $135.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. AbbVie currently has a consensus rating of “Buy” and an average price target of $117.26.
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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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