Caisse DE Depot ET Placement DU Quebec Has $46.65 Million Stake in AbbVie Inc (ABBV)

Caisse DE Depot ET Placement DU Quebec grew its stake in shares of AbbVie Inc (NYSE:ABBV) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 522,750 shares of the company’s stock after buying an additional 10,400 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in AbbVie were worth $46,647,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC bought a new stake in AbbVie during the 3rd quarter valued at approximately $544,418,000. Vanguard Group Inc. raised its stake in AbbVie by 3.3% during 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. Janus Henderson Group PLC raised its stake in AbbVie by 1,949.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after purchasing an additional 3,646,510 shares during the period. Orbis Allan Gray Ltd raised its stake in AbbVie by 35.7% during 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, Capital Research Global Investors raised its stake in AbbVie by 1.2% during 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. 69.33% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 450,743 shares of company stock worth $43,153,684. Corporate insiders own 0.23% of the company’s stock.

AbbVie Inc (NYSE ABBV) opened at $111.86 on Wednesday. The firm has a market capitalization of $178,580.00, a P/E ratio of 27.15, a PEG ratio of 1.06 and a beta of 1.61. 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 Inc has a 12-month low of $60.15 and a 12-month high of $125.86.

AbbVie (NYSE:ABBV) last released 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. The firm had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. analysts forecast that AbbVie Inc will post 7.46 earnings per share for the current year.

A number of analysts have issued reports on the company. Argus lifted their price objective on AbbVie from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. BMO Capital Markets downgraded AbbVie from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $125.86 to $84.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Thursday, January 18th. Evercore ISI reaffirmed a “buy” rating and issued a $144.00 price objective on shares of AbbVie in a research note on Monday, January 29th. Finally, Piper Jaffray Companies lifted their price objective on AbbVie to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $117.26.

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About AbbVie

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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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