Private Harbour Investment Management & Counsel LLC lessened its holdings in shares of AbbVie Inc (NYSE:ABBV) by 54.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,471 shares of the company’s stock after selling 17,138 shares during the quarter. Private Harbour Investment Management & Counsel LLC’s holdings in AbbVie were worth $1,286,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Capital Research Global Investors grew its position in 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 buying an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares during the last quarter. BlackRock Inc. raised its stake in shares of AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after buying an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd raised its stake in shares of AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd raised its stake in shares of AbbVie by 8.6% during the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after buying an additional 937,500 shares during the last quarter. 69.33% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the stock. Piper Jaffray Companies boosted their target price on shares of AbbVie from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Leerink Swann cut AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price target for the company. in a report on Monday, January 29th. SunTrust Banks lifted their price target on AbbVie to $157.00 and gave the company an “average” rating in a report on Monday, January 29th. BMO Capital Markets cut AbbVie from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $125.86 to $84.00 in a report on Monday, January 29th. They noted that the move was a valuation call. Finally, Evercore ISI reiterated a “buy” rating and set a $144.00 target price on shares of AbbVie in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $117.26.
AbbVie Inc (ABBV) traded up $0.63 during trading hours on Monday, hitting $111.93. The stock had a trading volume of 4,816,426 shares, compared to its average volume of 7,190,000. AbbVie Inc has a 12 month low of $60.15 and a 12 month high of $125.86. The company has a market capitalization of $178,430.00, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.61. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.
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 Thomson Reuters’ 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 business had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. equities analysts expect that AbbVie Inc will post 7.46 EPS for the current fiscal year.
In other news, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 450,743 shares of company stock valued at $43,153,684. 0.23% of the stock is currently owned by company insiders.
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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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