Richwood Investment Advisors LLC acquired a new position in shares of AbbVie Inc. (NYSE: ABBV – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,321 shares of the company stock, valued at approximately $ 314,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Marino Stram & Associates LLC lifted its stake in AbbVie by 3.5% during the 4th quarter. Marino Stram & Associates LLC now owns 12,718 shares of the company stock worth $ 1,722,000 after acquiring an additional 431 shares in the last quarter. International Assets Investment Management LLC lifted its stake in AbbVie by 237.7% during the 4th quarter. International Assets Investment Management LLC now owns 185,150 shares of the company stock worth $ 1,696,000 after acquiring an additional 130,327 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC purchased a new stake in AbbVie during the 4th quarter worth about $ 223,000. Searle & CO. increased its holdings in AbbVie by 0.7% during the 4th quarter. Searle & CO. now owns 45,023 shares of the company stock worth $ 6,096,000 after purchasing an additional 300 shares during the period. Finally, Palisade Capital Management LLC NJ increased its holdings in AbbVie by 56.5% during the 4th 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 during the period. 67.03% of the stock is currently owned by institutional investors.
Shares of NYSE: ABBV opened at $ 138.09 on Thursday. 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 Inc. has a 52-week low of $ 105.56 and a 52-week high of $ 175.91. The stock’s fifty day simple moving average is $ 152.92 and its 200-day simple moving average is $ 145.32. The company has a market capitalization of $ 244.02 billion, a P / E ratio of 19.81, a P / E / G ratio of 4.03 and a beta of 0.83.
AbbVie (NYSE: ABBV – Get Rating) last released its earnings results on Friday, April 29th. The company reported $ 3.16 earnings per share for the quarter, topping the estimate consensus 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 the estimate consensus of $ 13.61 billion. During the same period in the prior year, the business posted $ 2.95 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.02 earnings per share for the current year.
In other news, Vice Chairman Michael Severino sold 100,000 shares of the stock in a transaction dated 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 in the company, valued at $ 22,858,038.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Henry O. Gosebruch sold 83,960 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $ 155.00, for a total value of $ 13,013,800.00. Following the sale, the executive vice president now owns 16,623 shares of the company stock, valued at approximately $ 2,576,565. The disclosure for this sale can be found here. Insiders have sold 491,451 shares of company stock valued at $ 75,018,019 over the last 90 days. 0.08% of the stock is currently owned by insiders.
A number of research analysts have recently commented on ABBV shares. SVB Leerink started coverage on AbbVie in a report on Monday, May 23rd. They issued an “underperform” rating and a $ 140.00 price objective on the stock. Wells Fargo & Company increased their price objective on AbbVie from $ 165.00 to $ 200.00 in a report on Monday, May 2nd. Barclays increased their price objective on AbbVie from $ 150.00 to $ 174.00 and gave the company an “equal weight” rating in a report on Tuesday, April 12th. The Goldman Sachs Group increased their price target on AbbVie from $ 122.00 to $ 140.00 and gave the company a “neutral” rating in a report on Tuesday, April 12th. Finally, StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Buy” and a consensus target price of $ 159.75.
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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