Cambridge Investment Research Advisors Inc. grew its holdings in AbbVie Inc. (NYSE:ABBV) by 10.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,105 shares of the company’s stock after buying an additional 19,119 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in AbbVie were worth $19,546,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Covington Capital Management increased its position in shares of AbbVie by 0.8% during the fourth quarter. Covington Capital Management now owns 55,518 shares of the company’s stock worth $5,369,000 after purchasing an additional 449 shares in the last quarter. San Francisco Sentry Investment Group CA increased its position in shares of AbbVie by 15.3% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 3,386 shares of the company’s stock worth $327,000 after purchasing an additional 450 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of AbbVie by 8.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 5,970 shares of the company’s stock worth $577,000 after purchasing an additional 455 shares in the last quarter. Annex Advisory Services LLC increased its position in shares of AbbVie by 1.1% during the fourth quarter. Annex Advisory Services LLC now owns 43,287 shares of the company’s stock worth $4,186,000 after purchasing an additional 478 shares in the last quarter. Finally, First Personal Financial Services increased its position in shares of AbbVie by 2.7% during the fourth quarter. First Personal Financial Services now owns 18,248 shares of the company’s stock worth $1,765,000 after purchasing an additional 488 shares in the last quarter. Institutional investors and hedge funds own 70.30% of the company’s stock.
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In other news, VP Robert A. Michael sold 4,294 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total value of $512,832.42. Following the transaction, the vice president now owns 11,170 shares of the company’s stock, valued at approximately $1,334,033.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. Insiders have sold 211,197 shares of company stock worth $24,585,575 in the last three months. 0.07% of the stock is currently owned by corporate insiders.
Several analysts recently commented on the company. SunTrust Banks boosted their price target on AbbVie to $157.00 and gave the stock an “average” rating in a research report on Monday, January 29th. Piper Jaffray boosted their price target on AbbVie from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. BMO Capital Markets cut AbbVie from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. 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 research report on Monday, January 29th. Finally, Evercore ISI reiterated a “buy” rating and set a $144.00 price target on shares of AbbVie in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and a consensus price target of $116.38.
NYSE ABBV opened at $105.98 on Friday. The firm has a market cap of $167.13 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.00 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 8.70. AbbVie Inc. has a fifty-two week low of $64.80 and a fifty-two week high of $125.86.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.08. The company had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.60 billion. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. equities analysts anticipate that AbbVie Inc. will post 7.8 EPS for the current year.
AbbVie declared that its Board of Directors has approved a stock buyback plan on Thursday, February 15th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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