State of Wisconsin Investment Board grew its holdings in AbbVie Inc (NYSE:ABBV) by 11.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,623,766 shares of the company’s stock after buying an additional 165,074 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.10% of AbbVie worth $144,288,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Capital Research Global Investors lifted its stake in shares of AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after purchasing an additional 2,130,919 shares during the period. Vanguard Group Inc. lifted its stake in shares of AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after purchasing an additional 3,706,941 shares during the period. BlackRock Inc. lifted its stake in shares of AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after purchasing an additional 1,864,418 shares during the period. Orbis Allan Gray Ltd lifted its stake in shares of AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after purchasing an additional 3,340,038 shares during the period. Finally, Woodford Investment Management Ltd lifted its stake in shares of AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after purchasing an additional 937,500 shares during the period. Institutional investors and hedge funds own 69.28% of the company’s stock.
AbbVie Inc (NYSE:ABBV) traded down $1.17 during trading on Friday, hitting $115.17. The company’s stock had a trading volume of 7,184,173 shares, compared to its average volume of 5,800,000. The company has a market cap of $183,590.00, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 1.11 and a beta of 1.61. AbbVie Inc has a twelve month low of $60.05 and a twelve month 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 posted its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. research analysts expect that AbbVie Inc will post 7.46 earnings per share for the current fiscal year.
In other AbbVie news, insider Laura J. Schumacher sold 145,510 shares of AbbVie stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. In the last three months, insiders sold 476,376 shares of company stock valued at $45,580,873. Corporate insiders own 0.23% of the company’s stock.
ABBV has been the subject of a number of research analyst reports. Cowen upgraded AbbVie from a “market perform” rating to an “outperform” rating and raised their target price for the company from $91.17 to $105.00 in a research note on Wednesday, October 11th. UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Barclays raised their price objective on AbbVie to $90.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. Jefferies Group raised their price objective on AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $117.26.
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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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