First Dallas Securities Inc. cut its stake in AbbVie Inc (NYSE:ABBV) by 25.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,178 shares of the company’s stock after selling 6,531 shares during the period. AbbVie makes up approximately 1.1% of First Dallas Securities Inc.’s holdings, making the stock its 26th largest holding. First Dallas Securities Inc.’s holdings in AbbVie were worth $1,546,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc lifted its holdings in shares of AbbVie by 0.8% during the 3rd 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 in the last quarter. Northern Trust Corp lifted its holdings in shares of AbbVie by 1.1% during the 4th quarter. Northern Trust Corp now owns 21,029,665 shares of the company’s stock valued at $1,938,725,000 after acquiring an additional 227,408 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of AbbVie by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 17,582,527 shares of the company’s stock valued at $1,617,957,000 after acquiring an additional 880,288 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of AbbVie by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,921,433 shares of the company’s stock valued at $1,467,797,000 after acquiring an additional 41,680 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of AbbVie by 4,385.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,195,586 shares of the company’s stock valued at $165,000 after acquiring an additional 14,856,786 shares in the last quarter. 68.28% of the stock is owned by institutional investors.
In related news, VP Brian L. Durkin sold 475 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the sale, the vice president now directly owns 9,121 shares of the company’s stock, valued at $726,852.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.
ABBV stock opened at $78.69 on Monday. AbbVie Inc has a 12 month low of $73.81 and a 12 month high of $100.23. The company has a market cap of $116.33 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09.
AbbVie (NYSE:ABBV) last released its earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.81 billion. During the same period in the prior year, the business earned $1.87 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Equities analysts predict that AbbVie Inc will post 8.81 EPS for the current year.
Several equities analysts recently weighed in on ABBV shares. Argus lowered shares of AbbVie from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Credit Suisse Group set a $78.00 price target on shares of AbbVie and gave the stock 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 upped their price target for the stock from $71.00 to $79.00 in a research note on Sunday, April 28th. Zacks Investment Research lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Finally, ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Friday, February 22nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. AbbVie has a consensus rating of “Hold” and an average price target of $98.36.
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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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