Bogle Investment Management L P DE cut its stake in AbbVie Inc (NYSE:ABBV) by 13.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,741 shares of the company’s stock after selling 23,000 shares during the quarter. AbbVie makes up 1.1% of Bogle Investment Management L P DE’s portfolio, making the stock its 10th biggest holding. Bogle Investment Management L P DE’s holdings in AbbVie were worth $10,875,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Orser Capital Management LLC increased its holdings in AbbVie by 3,735.5% in the fourth quarter. Orser Capital Management LLC now owns 7,671 shares of the company’s stock worth $679,000 after buying an additional 7,471 shares during the last quarter. Putnam FL Investment Management Co. lifted its stake in shares of AbbVie by 39.6% in the 4th quarter. Putnam FL Investment Management Co. now owns 31,430 shares of the company’s stock valued at $2,783,000 after purchasing an additional 8,923 shares during the last quarter. RDA Financial Network boosted its holdings in AbbVie by 7.4% in the fourth quarter. RDA Financial Network now owns 2,909 shares of the company’s stock worth $242,000 after purchasing an additional 200 shares in the last quarter. Shepherd Financial Partners LLC increased its position in AbbVie by 0.3% during the fourth quarter. Shepherd Financial Partners LLC now owns 61,541 shares of the company’s stock worth $5,451,000 after buying an additional 198 shares during the last quarter. Finally, Payden & Rygel raised its holdings in AbbVie by 1,790.2% during the fourth quarter. Payden & Rygel now owns 192,800 shares of the company’s stock valued at $17,071,000 after buying an additional 182,600 shares in the last quarter. Institutional investors and hedge funds own 72.44% of the company’s stock.
A number of research analysts recently weighed in on the company. Mizuho reissued a “buy” rating and issued a $100.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Barclays began coverage on shares of AbbVie in a report on Thursday, February 27th. They issued an “equal weight” rating and a $97.00 target price on the stock. Cowen upped their price target on shares of AbbVie from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Royal Bank of Canada reissued a “buy” rating and set a $102.00 price objective on shares of AbbVie in a research report on Thursday, May 28th. Finally, Societe Generale lowered AbbVie from a “buy” rating to a “hold” rating in a report on Monday, March 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. AbbVie has a consensus rating of “Buy” and an average target price of $101.31.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.25 by $0.17. The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.31 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.14 earnings per share. On average, analysts forecast that AbbVie Inc will post 10.7 EPS for the current fiscal year.
In other AbbVie news, VP Brian L. Durkin purchased 3,750 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $68.82 per share, with a total value of $258,075.00. Following the acquisition, the vice president now directly owns 15,294 shares of the company’s stock, valued at approximately $1,052,533.08. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian L. Durkin acquired 2,200 shares of AbbVie stock in a transaction on Wednesday, March 18th. The stock was acquired at an average cost of $68.18 per share, for a total transaction of $149,996.00. Following the purchase, the vice president now owns 15,294 shares of the company’s stock, valued at approximately $1,042,744.92. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.
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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