Thomas White International Ltd. Acquires New Shares in AbbVie Inc (NYSE:ABBV)

Thomas White International Ltd. acquired a new stake in AbbVie Inc (NYSE:ABBV) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,540 shares of the company’s stock, valued at approximately $346,000.

Other large investors have also added to or reduced their stakes in the company. Efficient Wealth Management LLC purchased a new position in shares of AbbVie during the 1st quarter valued at $27,000. Lion Street Advisors LLC purchased a new position in shares of AbbVie during the 1st quarter valued at $29,000. Altshuler Shaham Ltd lifted its position in shares of AbbVie by 8,825.0% during the 4th quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock valued at $32,000 after buying an additional 353 shares during the last quarter. Solstein Capital LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $32,000. Finally, Americana Partners LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $32,000. 72.44% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the company. Mizuho reiterated a “buy” rating and set a $100.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Bank of America assumed coverage on AbbVie in a research note on Monday, May 18th. They set a “neutral” rating and a $95.00 price objective on the stock. UBS Group decreased their price objective on AbbVie from $106.00 to $96.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. 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, Morgan Stanley reiterated an “overweight” rating and set a $95.00 price objective on shares of AbbVie in a research note on Monday, May 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $100.17.

In related news, EVP Timothy J. Richmond sold 19,445 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $1,652,825.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian L. Durkin bought 3,750 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average price of $68.82 per share, with a total value of $258,075.00. Following the completion of the acquisition, the vice president now directly owns 15,294 shares in the company, valued at $1,052,533.08. The disclosure for this purchase can be found here. Insiders bought a total of 8,825 shares of company stock valued at $671,852 over the last quarter. Company insiders own 0.09% of the company’s stock.

NYSE ABBV traded down $0.93 during trading on Monday, reaching $91.74. The company’s stock had a trading volume of 2,201,104 shares, compared to its average volume of 13,018,193. 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. The firm has a fifty day moving average of $85.47 and a 200 day moving average of $85.77. AbbVie Inc has a one year low of $62.55 and a one year high of $97.86.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the business earned $2.14 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc will post 10.7 earnings per share for the current year.

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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