Tredje AP fonden boosted its stake in AbbVie Inc (NYSE:ABBV) by 20.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 219,136 shares of the company’s stock after purchasing an additional 37,027 shares during the quarter. AbbVie comprises about 0.9% of Tredje AP fonden’s investment portfolio, making the stock its 27th largest holding. Tredje AP fonden’s holdings in AbbVie were worth $15,981,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Efficient Wealth Management LLC acquired a new stake in AbbVie in the first quarter worth $27,000. Lion Street Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $29,000. Altshuler Shaham Ltd increased its position in shares of AbbVie by 8,825.0% in the 4th quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock valued at $32,000 after buying an additional 353 shares in the last quarter. Solstein Capital LLC acquired a new stake in AbbVie during the 4th quarter worth $32,000. Finally, Americana Partners LLC bought a new position in AbbVie during the fourth quarter worth about $32,000. 72.17% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Brian L. Durkin purchased 3,750 shares of AbbVie stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $68.82 per share, for a total transaction of $258,075.00. Following the purchase, the vice president now directly owns 15,294 shares of the company’s stock, valued at approximately $1,052,533.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward J. Rapp acquired 2,875 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average cost of $91.75 per share, for a total transaction of $263,781.25. Insiders have purchased a total of 8,825 shares of company stock valued at $671,852 in the last ninety days. 0.09% of the stock is currently owned by insiders.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.25 by $0.17. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same period in the previous year, the company earned $2.14 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc will post 10.7 EPS for the current fiscal year.
A number of equities research analysts have recently commented on ABBV shares. SVB Leerink raised their price target on AbbVie from $107.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Societe Generale downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Monday, March 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price target on shares of AbbVie in a research note on Monday, May 11th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price objective on the stock in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $98.23.
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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