AbbVie Inc (ABBV) Position Trimmed by Gotham Asset Management LLC

Gotham Asset Management LLC lowered its position in AbbVie Inc (NYSE:ABBV) by 7.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 303,257 shares of the company’s stock after selling 22,979 shares during the period. Gotham Asset Management LLC’s holdings in AbbVie were worth $27,957,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ABBV. Prime Capital Investment Advisors LLC purchased a new stake in AbbVie in the 4th quarter worth $27,000. Penserra Capital Management LLC purchased a new stake in AbbVie in the 4th quarter worth $32,000. Larson Financial Group LLC purchased a new stake in AbbVie in the 4th quarter worth $37,000. Horrell Capital Management Inc. purchased a new stake in AbbVie in the 4th quarter worth $41,000. Finally, Portfolio Solutions LLC purchased a new stake in AbbVie in the 4th quarter worth $46,000. 69.91% of the stock is owned by institutional investors.

Shares of NYSE ABBV opened at $81.15 on Friday. The stock has a market cap of $119.57 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. AbbVie Inc has a 12-month low of $75.62 and a 12-month high of $104.55.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 25th. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.08. The firm had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.81 billion. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.87 EPS. As a group, sell-side analysts anticipate that AbbVie Inc will post 8.83 earnings per share for the current fiscal year.

In related news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $79.03, for a total value of $1,248,436.91. Following the sale, the executive vice president now directly owns 93,312 shares of the company’s stock, valued at approximately $7,374,447.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Durkin sold 475 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the sale, the vice president now directly owns 9,121 shares in the company, valued at $726,852.49. The disclosure for this sale can be found here. Insiders have sold a total of 41,272 shares of company stock worth $3,286,290 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Several analysts have commented on ABBV shares. Credit Suisse Group set a $79.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Friday, January 25th. ValuEngine upgraded shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Friday, March 15th. Zacks Investment Research cut shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Barclays reiterated a “hold” rating and issued a $86.00 price target on shares of AbbVie in a research note on Thursday, February 14th. Finally, BMO Capital Markets upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $71.00 to $79.00 in a research note on Sunday, April 28th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $94.95.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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