DNB Asset Management AS boosted its holdings in shares of AbbVie Inc. (NYSE: ABBV – Get Rating) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 401,886 shares of the company stock after purchasing an additional 14,620 shares during the quarter. DNB Asset Management AS’s holdings in AbbVie were worth $ 65,150,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in AbbVie by 1.1% during the fourth quarter. BlackRock Inc. now owns 128,197,554 shares of the company stock valued at $ 17,357,949,000 after purchasing an additional 1,358,115 shares in the last quarter. State Street Corp increased its position in AbbVie by 3.4% during 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 during the last quarter. Geode Capital Management LLC increased its position in AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 28,518,946 shares of the company stock valued at $ 3,850,573,000 after acquiring an additional 758,354 shares during the last quarter. Bank of New York Mellon Corp increased its position in AbbVie by 0.5% during 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 acquiring an additional 94,954 shares during the last quarter. Finally, Morgan Stanley increased its position in AbbVie by 1.1% during the second quarter. Morgan Stanley now owns 18,944,687 shares of the company stock valued at $ 2,133,931,000 after acquiring an additional 214,425 shares during the last quarter. 67.03% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ABBV. StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 8th. UBS Group cut shares of AbbVie from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $ 129.00 to $ 147.00 in a research report on Monday, February 28th. Barclays boosted their price target on shares of AbbVie from $ 150.00 to $ 174.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 12th. Morgan Stanley boosted their price target on shares of AbbVie from $ 142.00 to $ 192.00 and gave the company an “overweight” rating in a research report on Wednesday, April 6th. Finally, BMO Capital Markets upped their price target on shares of AbbVie from $ 161.00 to $ 174.00 and gave the stock an “outperform” rating in a report on Monday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $ 159.75.
NYSE: ABBV opened at $ 138.28 on Monday. AbbVie Inc. has a 1-year low of $ 105.56 and a 1-year high of $ 175.91. The company has a 50-day moving average of $ 151.51 and a 200 day moving average of $ 146.05. The firm has a market cap of $ 244.36 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 3.89 and a beta of 0.83. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71.
AbbVie (NYSE: ABBV – Get Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $ 3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $ 3.15 by $ 0.01. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The company had revenue of $ 13.36 billion during the quarter, compared to analyst estimates of $ 13.61 billion. During the same period in the prior year, the firm earned $ 2.95 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 14.02 EPS for the current fiscal year.
In other AbbVie news, EVP Jeffrey Ryan Stewart sold 27,690 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Michael Severino sold 100,000 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $ 150.28, for a total transaction of $ 15,028,000.00. Following the sale, the insider now directly owns 152,103 shares of the company stock, valued at $ 22,858,038.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,451 shares of company stock valued at $ 75,018,019. Insiders own 0.08% of the company stock.
AbbVie 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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