AbbVie Inc (NYSE:ABBV) Position Boosted by Bp Plc
BP PLC boosted its position in AbbVie Inc (NYSE:ABBV) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,354 shares of the company’s stock after purchasing an additional 2,354 shares during the quarter. BP PLC’s holdings in AbbVie were worth $16,644,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Acropolis Investment Management LLC bought a new stake in AbbVie in the 2nd quarter worth about $106,000. Hudock Capital Group LLC boosted its position in AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares during the last quarter. Ffcm LLC boosted its position in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in AbbVie in the third quarter worth about $113,000. Finally, BDO Wealth Advisors LLC purchased a new position in AbbVie in the second quarter worth about $115,000. Institutional investors and hedge funds own 69.28% of the company’s stock.
In related news, EVP Michael Severino sold 25,633 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the completion of the transaction, the executive vice president now owns 114,922 shares in the company, valued at approximately $10,881,964.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 476,376 shares of company stock worth $45,580,873. Corporate insiders own 0.23% of the company’s stock.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. sell-side analysts expect that AbbVie Inc will post 7.38 earnings per share for the current year.
Several research analysts have issued reports on ABBV shares. Credit Suisse Group reissued a “neutral” rating and issued a $135.00 target price (up from $98.00) on shares of AbbVie in a research report on Monday. Societe Generale raised their target price on AbbVie in a research report on Tuesday, November 21st. Leerink Swann cut AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price on the stock. in a research report on Monday. BMO Capital Markets set a $84.00 target price on AbbVie and gave the company a “hold” rating in a research note on Thursday, January 11th. Finally, Jefferies Group lifted their target price on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $111.27.
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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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