D.A. Davidson & CO. boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 13.1% during the third quarter, Holdings Channel reports. The institutional investor owned 224,388 shares of the company’s stock after buying an additional 26,070 shares during the period. D.A. Davidson & CO.’s holdings in AbbVie were worth $14,149,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. PGGM Investments acquired a new position in AbbVie during the third quarter valued at $72,070,000. Vanguard Group Inc. increased its position in AbbVie by 1.0% in the second quarter. Vanguard Group Inc. now owns 104,083,008 shares of the company’s stock valued at $6,443,780,000 after buying an additional 998,196 shares during the last quarter. Artemis Investment Management LLP increased its position in AbbVie by 48.9% in the second quarter. Artemis Investment Management LLP now owns 2,993,527 shares of the company’s stock valued at $185,286,000 after buying an additional 982,655 shares during the last quarter. Canada Pension Plan Investment Board increased its position in AbbVie by 75.2% in the third quarter. Canada Pension Plan Investment Board now owns 1,953,210 shares of the company’s stock valued at $123,189,000 after buying an additional 838,211 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in AbbVie by 44.3% in the third quarter. Two Sigma Advisers LP now owns 2,581,749 shares of the company’s stock valued at $162,831,000 after buying an additional 793,209 shares during the last quarter. 66.67% of the stock is currently owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) opened at 60.82 on Wednesday. AbbVie Inc. has a 52-week low of $53.35 and a 52-week high of $68.12. The stock has a 50 day moving average of $61.61 and a 200-day moving average of $62.43. The company has a market capitalization of $98.84 billion, a price-to-earnings ratio of 16.75 and a beta of 1.57.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 27th. The company reported $1.20 earnings per share for the quarter, hitting the consensus estimate of $1.20. AbbVie had a net margin of 23.22% and a return on equity of 141.55%. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.92 billion. AbbVie’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post $5.48 earnings per share for the current fiscal year.
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Several research firms have weighed in on ABBV. William Blair restated an “outperform” rating and set a $76.00 price objective on shares of AbbVie in a report on Thursday, December 8th. Jefferies Group LLC restated a “buy” rating and set a $90.00 price objective on shares of AbbVie in a report on Thursday, January 5th. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $67.88 price objective on the stock in a report on Tuesday, February 7th. Leerink Swann initiated coverage on shares of AbbVie in a report on Tuesday, October 18th. They set a “market perform” rating and a $70.00 price objective on the stock. Finally, Credit Suisse Group downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $70.00 to $60.00 in a report on Monday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $70.17.
In other AbbVie news, CFO William J. Chase sold 6,600 shares of AbbVie stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $59.19, for a total transaction of $390,654.00. Following the completion of the transaction, the chief financial officer now directly owns 178,970 shares of the company’s stock, valued at $10,593,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by insiders.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. Its products are focused on treating conditions, such as chronic autoimmune diseases, in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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