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 (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 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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