JLB & Associates Inc. boosted its position in AbbVie Inc. (NYSE: ABBV – Get Rating) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,648 shares of the company stock after purchasing an additional 245 shares during the period. JLB & Associates Inc.’s holdings in AbbVie were worth $ 8,534,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of 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 buying an additional 1,358,115 shares during the period. State Street Corp increased 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 worth $ 10,745,033,000 after purchasing an additional 2,597,076 shares during the period. Geode Capital Management LLC raised its holdings in shares of AbbVie by 2.7% in the 4th 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AbbVie by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 21,090,468 shares of the company stock worth $ 2,275,029,000 after purchasing an additional 94,954 shares in the last quarter. Finally, Morgan Stanley raised its stake 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 purchasing an additional 214,425 shares in the last quarter. 67.03% of the stock is owned by institutional investors and hedge funds.
ABBV stock opened at $ 138.28 on Monday. AbbVie Inc. has a twelve month low of $ 105.56 and a twelve month high of $ 175.91. The business’s fifty day simple moving average is $ 151.51 and its two-hundred day simple moving average is $ 146.05. The firm has a market cap of $ 244.36 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 3.89 and a beta of 0.83. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89.
AbbVie (NYSE: ABBV – Get Rating) last announced its quarterly earnings results on Friday, April 29th. The company reported $ 3.16 EPS for the quarter, beating the consensus estimate of $ 3.15 by $ 0.01. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The firm had revenue of $ 13.36 billion for the quarter, compared to analyst estimates of $ 13.61 billion. During the same quarter last year, the firm posted $ 2.95 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 14.02 EPS for the current year.
ABBV has been the subject of several recent analyst reports. Daiwa Capital Markets downgraded 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. Citigroup lifted their target price on shares of AbbVie from $ 155.00 to $ 170.00 in a report on Tuesday, March 1st. Morgan Stanley upped their price target on shares of AbbVie from $ 142.00 to $ 192.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. SVB Leerink initiated coverage on AbbVie in a research note on Monday, May 23rd. They set an “underperform” rating and a $ 140.00 target price on the stock. Finally, UBS Group downgraded shares of AbbVie from a “buy” rating to a “neutral” rating and increased their price target for the company from $ 129.00 to $ 147.00 in a research report on Monday, February 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $ 159.75.
In related news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction dated 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 owns 152,103 shares of the company stock, valued at $ 22,858,038.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 27,690 shares of AbbVie stock in a transaction dated 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 quarter. 0.08% of the stock is currently owned by corporate insiders.
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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