IFC Holdings Incorporated FL lowered its position in AbbVie Inc. (NYSE:ABBV) by 12.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,266 shares of the company’s stock after selling 3,878 shares during the period. IFC Holdings Incorporated FL’s holdings in AbbVie were worth $1,714,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Gyroscope Capital Management Group LLC increased its position in AbbVie by 5.9% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 70,185 shares of the company’s stock valued at $4,395,000 after buying an additional 3,926 shares in the last quarter. Toth Financial Advisory Corp increased its position in AbbVie by 2.6% in the first quarter. Toth Financial Advisory Corp now owns 61,012 shares of the company’s stock valued at $3,976,000 after buying an additional 1,536 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in AbbVie during the fourth quarter valued at about $1,117,000. Raymond James Financial Services Advisors Inc. increased its position in AbbVie by 77.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 833,464 shares of the company’s stock valued at $52,191,000 after buying an additional 363,937 shares in the last quarter. Finally, Orbis Allan Gray Ltd increased its position in AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock valued at $343,496,000 after buying an additional 579,378 shares in the last quarter. Institutional investors and hedge funds own 68.07% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) opened at 71.05 on Friday. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $71.12. The stock has a 50 day moving average price of $67.12 and a 200-day moving average price of $63.96. The firm has a market cap of $113.08 billion, a P/E ratio of 18.42 and a beta of 1.52.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, April 27th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.02. AbbVie had a net margin of 24.07% and a return on equity of 148.83%. The company had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. AbbVie’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post $5.53 EPS for the current year.
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Several research analysts have issued reports on the company. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $72.72 price objective on the stock. in a report on Wednesday. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Credit Suisse Group reaffirmed a “hold” rating and set a $65.00 price objective on shares of AbbVie in a report on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $66.00 price objective on shares of AbbVie in a report on Wednesday, May 17th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. AbbVie has an average rating of “Buy” and an average target price of $73.27.
In related news, CFO William J. Chase sold 38,300 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total value of $2,502,905.00. Following the sale, the chief financial officer now owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Carlos Alban sold 43,000 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $67.00, for a total transaction of $2,881,000.00. Following the completion of the sale, the executive vice president now directly owns 114,745 shares in the company, valued at approximately $7,687,915. The disclosure for this sale can be found here. In the last three months, insiders sold 278,135 shares of company stock worth $18,841,085. 0.23% of the stock is currently owned by insiders.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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