Horizon Investments LLC raised its stake in AbbVie Inc. (NYSE: ABBV – Get Rating) by 174.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,200 shares of the company stock after purchasing an additional 21,082 shares during the quarter. Horizon Investments LLC’s holdings in AbbVie were worth $ 4,449,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Marino Stram & Associates LLC lifted its position in shares of AbbVie by 3.5% during the fourth quarter. Marino Stram & Associates LLC now owns 12,718 shares of the company stock worth $ 1,722,000 after purchasing an additional 431 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of AbbVie by 237.7% during the fourth quarter. International Assets Investment Management LLC now owns 185,150 shares of the company stock worth $ 1,696,000 after purchasing an additional 130,327 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $ 223,000. Searle & CO. lifted its position in shares of AbbVie by 0.7% during the fourth quarter. Searle & CO. now owns 45,023 shares of the company stock worth $ 6,096,000 after purchasing an additional 300 shares in the last quarter. Finally, Palisade Capital Management LLC NJ lifted its position in shares of AbbVie by 56.5% during the fourth quarter. Palisade Capital Management LLC NJ now owns 110,163 shares of the company stock worth $ 14,916,000 after purchasing an additional 39,773 shares in the last quarter. 67.03% of the stock is currently owned by institutional investors.
In related news, Vice Chairman Michael Severino sold 100,000 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $ 150.28, for a total transaction of $ 15,028,000.00. Following the completion of the sale, the insider now directly owns 152,103 shares of the company stock, valued at $ 22,858,038.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 27,690 shares of the stock in a transaction on Thursday, March 24th. The stock was 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. Insiders sold 491,451 shares of company stock valued at $ 75,018,019 over the last three months. Corporate insiders own 0.08% of the company stock.
Shares of AbbVie stock opened at $ 137.62 on Wednesday. The firm has a market capitalization of $ 243.19 billion, a P / E ratio of 19.74, a P / E / G ratio of 4.03 and a beta of 0.83. AbbVie Inc. has a 52 week low of $ 105.56 and a 52 week high of $ 175.91. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. The firm’s 50 day moving average is $ 153.54 and its two-hundred day moving average is $ 145.37.
AbbVie (NYSE: ABBV – Get Rating) last posted its quarterly earnings data on Friday, April 29th. The company reported $ 3.16 earnings per share for the quarter, beating the consensus estimate of $ 3.15 by $ 0.01. The business had revenue of $ 13.36 billion during the quarter, compared to the estimate consensus of $ 13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The company revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $ 2.95 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 14.02 earnings per share for the current fiscal year.
ABBV has been the topic of several research reports. Barclays increased their price target 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. UBS Group lowered shares of AbbVie from a “buy” rating to a “neutral” rating and upped their target price for the stock from $ 129.00 to $ 147.00 in a research note on Monday, February 28th. Wells Fargo & Company upped their target price on shares of AbbVie from $ 165.00 to $ 200.00 in a research note on Monday, May 2nd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $ 150.00 target price on the stock. in a research note on Friday, May 6th. Finally, StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Buy” and a consensus 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.
See Also:
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE: ABBV – Get Rating).
Receive News & Ratings for AbbVie Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for AbbVie and related companies with MarketBeat.com’s FREE daily email newsletter.
.