Moody National Bank Trust Division decreased its stake in shares of AbbVie Inc (NYSE:ABBV) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 131,083 shares of the company’s stock after selling 483 shares during the quarter. Moody National Bank Trust Division’s holdings in AbbVie were worth $10,564,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Van Leeuwen & Company LLC raised its stake in AbbVie by 4.1% during the fourth quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock valued at $304,000 after purchasing an additional 130 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in shares of AbbVie by 1.0% in the fourth quarter. Integrated Investment Consultants LLC now owns 12,662 shares of the company’s stock valued at $1,168,000 after acquiring an additional 131 shares during the period. NewSquare Capital LLC raised its stake in shares of AbbVie by 0.7% in the fourth quarter. NewSquare Capital LLC now owns 19,562 shares of the company’s stock valued at $1,803,000 after acquiring an additional 137 shares during the period. D.B. Root & Company LLC raised its stake in shares of AbbVie by 1.4% in the fourth quarter. D.B. Root & Company LLC now owns 10,516 shares of the company’s stock valued at $969,000 after acquiring an additional 146 shares during the period. Finally, Benin Management CORP raised its stake in shares of AbbVie by 2.6% in the fourth quarter. Benin Management CORP now owns 6,000 shares of the company’s stock valued at $553,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 68.33% of the company’s stock.
ABBV has been the topic of several recent analyst reports. Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Credit Suisse Group set a $78.00 target price on shares of AbbVie and gave the company a “sell” rating in a research note on Friday, April 26th. BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and increased their target price for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Zacks Investment Research downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Finally, ValuEngine downgraded shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Friday, February 22nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $98.36.
In related news, VP Brian L. Durkin sold 475 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $79.69, for a total value of $37,852.75. Following the transaction, the vice president now owns 9,121 shares of the company’s stock, valued at approximately $726,852.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.08% of the company’s stock.
ABBV stock opened at $78.69 on Friday. The stock has a market capitalization of $116.71 billion, a P/E ratio of 9.95, a P/E/G ratio of 1.61 and a beta of 1.10. AbbVie Inc has a 12 month low of $73.81 and a 12 month high of $100.23.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.08. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.81 billion. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.87 EPS. As a group, analysts forecast that AbbVie Inc will post 8.81 earnings per share for the current fiscal 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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