Blair William & Co. IL Purchases 33,851 Shares of AbbVie Inc (NYSE:ABBV)

Blair William & Co. IL raised its position in AbbVie Inc (NYSE:ABBV) by 3.8% during the first quarter, Holdings Channel reports. The institutional investor owned 929,065 shares of the company’s stock after buying an additional 33,851 shares during the quarter. Blair William & Co. IL’s holdings in AbbVie were worth $70,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC boosted its position in AbbVie by 30.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 34,687 shares of the company’s stock valued at $2,643,000 after buying an additional 8,176 shares during the last quarter. MainStreet Investment Advisors LLC boosted its position in AbbVie by 7.2% in the 1st quarter. MainStreet Investment Advisors LLC now owns 124,506 shares of the company’s stock valued at $9,486,000 after buying an additional 8,341 shares during the last quarter. Banco Santander S.A. boosted its position in AbbVie by 40.9% in the 1st quarter. Banco Santander S.A. now owns 15,444 shares of the company’s stock valued at $1,177,000 after buying an additional 4,483 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of AbbVie by 21.4% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 420,339 shares of the company’s stock valued at $32,026,000 after purchasing an additional 74,043 shares during the period. Finally, Braun Bostich & Associates Inc. lifted its stake in shares of AbbVie by 134.8% in the 1st quarter. Braun Bostich & Associates Inc. now owns 4,394 shares of the company’s stock valued at $323,000 after purchasing an additional 2,523 shares during the period. Hedge funds and other institutional investors own 72.17% of the company’s stock.

In other AbbVie news, VP Brian L. Durkin purchased 2,200 shares of AbbVie stock in a transaction that occurred on Wednesday, March 18th. The stock was acquired at an average price of $68.18 per share, for a total transaction of $149,996.00. Following the completion of the acquisition, the vice president now owns 15,294 shares of the company’s stock, valued at approximately $1,042,744.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Rapp purchased 2,875 shares of AbbVie stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average price of $91.75 per share, with a total value of $263,781.25. Insiders bought a total of 8,825 shares of company stock valued at $671,852 in the last 90 days. 0.09% of the stock is owned by corporate insiders.

AbbVie stock traded down $0.92 during mid-day trading on Friday, hitting $92.10. 5,505,076 shares of the company’s stock were exchanged, compared to its average volume of 13,435,240. The firm has a market capitalization of $137.37 billion, a P/E ratio of 16.30, a PEG ratio of 1.97 and a beta of 0.82. AbbVie Inc has a fifty-two week low of $62.55 and a fifty-two week high of $97.86. The company’s 50 day simple moving average is $83.08 and its 200-day simple moving average is $85.44.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 1st. The company reported $2.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.25 by $0.17. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter last year, the business posted $2.14 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc will post 10.7 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on the company. SVB Leerink increased their price target on AbbVie from $107.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. UBS Group cut their price target on AbbVie from $106.00 to $96.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Mizuho reissued a “buy” rating and issued a $100.00 price target on shares of AbbVie in a research note on Friday, May 1st. Morgan Stanley reissued an “overweight” rating and issued a $95.00 price target on shares of AbbVie in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. raised AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price target on the stock in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $98.23.

AbbVie 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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