Landmark Bank raised its position in shares of AbbVie Inc (NYSE:ABBV) by 65.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,749 shares of the company’s stock after acquiring an additional 1,887 shares during the quarter. Landmark Bank’s holdings in AbbVie were worth $383,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc increased its stake in shares of AbbVie by 0.8% during the third quarter. Vanguard Group Inc now owns 118,762,307 shares of the company’s stock valued at $11,232,540,000 after acquiring an additional 912,625 shares during the period. Verity & Verity LLC boosted its holdings in AbbVie by 9.9% during the fourth quarter. Verity & Verity LLC now owns 51,170 shares of the company’s stock worth $4,717,000 after buying an additional 4,595 shares in the last quarter. Legacy Private Trust Co. boosted its stake in AbbVie by 3.5% in the 4th quarter. Legacy Private Trust Co. now owns 43,319 shares of the company’s stock worth $3,994,000 after purchasing an additional 1,478 shares during the period. CMH Wealth Management LLC boosted its stake in AbbVie by 2.8% in the 4th quarter. CMH Wealth Management LLC now owns 33,601 shares of the company’s stock worth $3,098,000 after purchasing an additional 900 shares during the period. Finally, Burns J W & Co. Inc. NY boosted its stake in AbbVie by 9.2% in the 4th quarter. Burns J W & Co. Inc. NY now owns 21,607 shares of the company’s stock worth $1,992,000 after purchasing an additional 1,829 shares during the period. 68.33% of the stock is owned by institutional investors and hedge funds.
In related news, VP Brian L. Durkin sold 475 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now directly owns 9,121 shares in the company, valued at approximately $726,852.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. Following the completion of the sale, the insider now owns 139,838 shares in the company, valued at $11,187,040. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Barclays reiterated a “hold” rating and issued a $86.00 target price on shares of AbbVie in a report on Thursday, February 14th. Goldman Sachs Group assumed coverage on shares of AbbVie in a report on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price objective on the stock. ValuEngine upgraded shares of AbbVie from a “strong sell” rating to a “sell” rating in a report on Friday, March 15th. Finally, Argus lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. AbbVie currently has an average rating of “Hold” and an average price target of $98.36.
ABBV opened at $78.17 on Wednesday. AbbVie Inc has a 1-year low of $73.81 and a 1-year high of $100.23. The company has a market capitalization of $115.37 billion, a PE ratio of 9.88, a P/E/G ratio of 1.58 and a beta of 1.09.
AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.06 by $0.08. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.81 billion. During the same period last year, the company earned $1.87 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc will post 8.81 earnings per share for the current year.
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AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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