CWA Asset Management Group LLC raised its position in AbbVie Inc. (NYSE: ABBV – Get Rating) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,528 shares of the company stock after purchasing an additional 970 shares during the quarter. CWA Asset Management Group LLC’s holdings in AbbVie were worth $ 3,321,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of 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 acquiring an additional 2,597,076 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $ 272,868,000. Capital International Investors boosted its holdings in AbbVie by 19.7% during the fourth quarter. Capital International Investors now owns 11,615,068 shares of the company stock worth $ 1,572,680,000 after buying an additional 1,913,451 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in AbbVie by 51.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,533,034 shares of the company stock worth $ 752,074,000 after buying an additional 1,874,609 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in AbbVie by 12.2% during the fourth quarter. Nuveen Asset Management LLC now owns 16,331,749 shares of the company stock worth $ 2,211,319,000 after buying an additional 1,771,090 shares in the last quarter. Institutional investors own 67.03% of the company stock.
A number of equities analysts recently commented on ABBV shares. Citigroup raised their price objective on shares of AbbVie from $ 155.00 to $ 170.00 in a research note on Tuesday, March 1st. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $ 150.00 price objective for the company. in a research note on Friday, May 6th. Barclays increased their target price on shares of AbbVie from $ 150.00 to $ 174.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. Wells Fargo & Company increased their target price on shares of AbbVie from $ 165.00 to $ 200.00 in a research report on Monday, May 2nd. Finally, Morgan Stanley increased their target price on shares of AbbVie from $ 142.00 to $ 192.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Buy” and a consensus target price of $ 159.75.
ABBV opened at $ 139.42 on Tuesday. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. The company has a market cap of $ 246.37 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 4.03 and a beta of 0.83. The firm has a 50 day simple moving average of $ 154.05 and a 200 day simple moving average of $ 145.43. AbbVie Inc. has a fifty-two week low of $ 105.56 and a fifty-two week high of $ 175.91.
AbbVie (NYSE: ABBV – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The company reported $ 3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 3.15 by $ 0.01. The firm had revenue of $ 13.36 billion during the quarter, compared to analysts’ expectations of $ 13.61 billion. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $ 2.95 earnings per share. As a group, analysts expect that AbbVie Inc. will post 14.02 EPS for the current year.
In other AbbVie news, EVP Jeffrey Ryan Stewart sold 27,690 shares of the company stock in a transaction on Thursday, March 24th. The shares were sold at an average price of $ 159.20, for a total transaction of $ 4,408,248.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Michael Severino sold 79,801 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $ 150.90, for a total transaction of $ 12,041,970.90. Following the completion of the transaction, the insider now directly owns 152,103 shares in the company, valued at $ 22,952,342.70. The disclosure for this sale can be found here. Insiders sold 491,451 shares of company stock valued at $ 75,018,019 in the last quarter. Corporate insiders own 0.08% of the company stock.
AbbVie Company Profile: (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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