SlateStone Wealth LLC raised its stake in AbbVie Inc (NYSE:ABBV) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,730 shares of the company’s stock after buying an additional 500 shares during the quarter. SlateStone Wealth LLC’s holdings in AbbVie were worth $2,367,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in ABBV. BlackRock Inc. raised its holdings in shares of AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after purchasing an additional 3,100,309 shares during the last quarter. State Street Corp raised its holdings in shares of AbbVie by 2.3% in the third quarter. State Street Corp now owns 68,783,527 shares of the company’s stock valued at $5,208,289,000 after purchasing an additional 1,516,048 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in shares of AbbVie by 773.2% in the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,139,204 shares of the company’s stock valued at $35,207,000 after purchasing an additional 1,008,736 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of AbbVie by 66.3% in the third quarter. Russell Investments Group Ltd. now owns 2,290,332 shares of the company’s stock valued at $173,065,000 after purchasing an additional 913,015 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of AbbVie by 22.0% in the third quarter. California Public Employees Retirement System now owns 3,566,502 shares of the company’s stock valued at $270,056,000 after purchasing an additional 644,078 shares during the last quarter. 70.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on ABBV. Mizuho lifted their price objective on shares of AbbVie from $96.00 to $104.00 in a report on Monday. ValuEngine downgraded shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Thursday. Cowen lifted their price objective on shares of AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, December 26th. UBS Group lifted their price objective on shares of AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Piper Jaffray Companies lifted their price objective on shares of AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $88.51.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 7th. The company reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.02. The business had revenue of $8.70 billion for the quarter, compared to the consensus estimate of $8.68 billion. AbbVie had a net margin of 23.69% and a negative return on equity of 162.37%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 earnings per share. On average, equities analysts anticipate that AbbVie Inc will post 9.66 EPS for the current year.
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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