Wealth Advisors of Iowa LLC increased its stake in AbbVie Inc. (NYSE: ABBV – Get Rating) by 27.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,643 shares of the company stock after buying an additional 783 shares during the period. Wealth Advisors of Iowa LLC’s holdings in AbbVie were worth $ 493,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in AbbVie by 3.4% in the fourth quarter. State Street Corp now owns 79,357,705 shares of the company stock valued at $ 10,745,033,000 after buying an additional 2,597,076 shares during the period. Geode Capital Management LLC raised its holdings in AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 28,518,946 shares of the company stock valued at $ 3,850,573,000 after buying an additional 758,354 shares during the period. Bank of New York Mellon Corp raised its holdings in AbbVie by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 21,090,468 shares of the company stock valued at $ 2,275,029,000 after buying an additional 94,954 shares during the period. Morgan Stanley raised its holdings in AbbVie by 1.1% in the second quarter. Morgan Stanley now owns 18,944,687 shares of the company stock valued at $ 2,133,931,000 after buying an additional 214,425 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in AbbVie by 12.2% in the fourth quarter. Nuveen Asset Management LLC now owns 16,331,749 shares of the company stock valued at $ 2,211,319,000 after buying an additional 1,771,090 shares during the period. 67.03% of the stock is currently owned by institutional investors and hedge funds.
In related news, Vice Chairman Michael Severino sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $ 150.28, for a total value of $ 15,028,000.00. Following the completion of the sale, the insider now owns 152,103 shares of the company stock, valued at approximately $ 22,858,038.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 27,690 shares of the business’s stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $ 159.20, for a total value of $ 4,408,248.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,451 shares of company stock worth $ 75,018,019. Corporate insiders own 0.08% of the company stock.
Shares of AbbVie stock opened at $ 138.09 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 3.89. The company 50-day moving average price is $ 152.92 and its two-hundred day moving average price is $ 145.32. AbbVie Inc. has a 52 week low of $ 105.56 and a 52 week high of $ 175.91. The stock has a market cap of $ 244.02 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 4.03 and a beta of 0.83.
AbbVie (NYSE: ABBV – Get Rating) last issued its quarterly earnings results on Friday, April 29th. The company reported $ 3.16 EPS for the quarter, topping the consensus estimate of $ 3.15 by $ 0.01. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The firm had revenue of $ 13.36 billion for the quarter, compared to analysts’ expectations of $ 13.61 billion. During the same period in the previous year, the business earned $ 2.95 earnings per share. AbbVie’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post 14.02 EPS for the current fiscal year.
Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of AbbVie from $ 165.00 to $ 200.00 in a report on Monday, May 2nd. Morgan Stanley lifted their price objective on shares of AbbVie from $ 142.00 to $ 192.00 and gave the company an “overweight” rating in a research note on Wednesday, April 6th. StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. UBS Group lowered shares of AbbVie from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $ 129.00 to $ 147.00 in a research note on Monday, February 28th. Finally, Barclays lifted their objective price on shares of AbbVie from $ 150.00 to $ 174.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $ 159.75.
About AbbVie: (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet’s diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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