AbbVie Inc (NYSE:ABBV) Shares Acquired by Blackhill Capital Inc.

Blackhill Capital Inc. increased its stake in AbbVie Inc (NYSE:ABBV) by 0.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 193,970 shares of the company’s stock after buying an additional 400 shares during the quarter. AbbVie comprises 3.1% of Blackhill Capital Inc.’s portfolio, making the stock its 10th largest position. Blackhill Capital Inc.’s holdings in AbbVie were worth $14,779,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Doyle Wealth Management grew its holdings in shares of AbbVie by 2.2% in the 4th quarter. Doyle Wealth Management now owns 4,948 shares of the company’s stock worth $438,000 after acquiring an additional 108 shares during the last quarter. Roosevelt Investment Group Inc. grew its holdings in shares of AbbVie by 2.7% during the fourth quarter. Roosevelt Investment Group Inc. now owns 4,201 shares of the company’s stock valued at $372,000 after buying an additional 110 shares in the last quarter. Waldron Private Wealth LLC grew its holdings in shares of AbbVie by 0.4% during the fourth quarter. Waldron Private Wealth LLC now owns 32,475 shares of the company’s stock valued at $2,875,000 after buying an additional 114 shares in the last quarter. Dividend Assets Capital LLC grew its holdings in shares of AbbVie by 4.2% during the fourth quarter. Dividend Assets Capital LLC now owns 2,929 shares of the company’s stock valued at $259,000 after buying an additional 117 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC grew its holdings in shares of AbbVie by 4.7% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 2,789 shares of the company’s stock valued at $212,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 72.44% of the company’s stock.

NYSE:ABBV traded down $1.35 during mid-day trading on Monday, reaching $91.32. The stock had a trading volume of 3,914,604 shares, compared to its average volume of 13,018,193. The stock has a 50-day simple moving average of $85.47 and a two-hundred day simple moving average of $85.77. The stock has a market capitalization of $136.85 billion, a PE ratio of 16.14, a P/E/G ratio of 1.96 and a beta of 0.85. AbbVie Inc has a 12 month low of $62.55 and a 12 month high of $97.86.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.17. The firm 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 company’s revenue 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. Sell-side analysts expect that AbbVie Inc will post 10.7 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on ABBV. Morgan Stanley reiterated an “overweight” rating and set a $95.00 price target on shares of AbbVie in a report on Monday, May 11th. Piper Sandler lifted their price objective on AbbVie from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $102.00 price target on shares of AbbVie in a research report on Thursday. JPMorgan Chase & Co. upgraded AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price objective on the stock in a research note on Tuesday, May 12th. Finally, ValuEngine lowered AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $100.17.

In other news, Director Edward J. Rapp acquired 2,875 shares of AbbVie stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average cost of $91.75 per share, with a total value of $263,781.25. Also, VP Brian L. Durkin acquired 2,200 shares of AbbVie stock in a transaction on Wednesday, March 18th. The stock was purchased at an average cost of $68.18 per share, with a total value of $149,996.00. Following the completion of the transaction, the vice president now directly owns 15,294 shares in the company, valued at approximately $1,042,744.92. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 8,825 shares of company stock worth $671,852. 0.09% of the stock is owned by company insiders.

About AbbVie

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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