Leonard Rickey Investment Advisors P.L.L.C. purchased a new position in shares of AbbVie Inc (NYSE:ABBV) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,264 shares of the company’s stock, valued at approximately $263,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $27,000. Penserra Capital Management LLC bought a new position in AbbVie in the fourth quarter valued at approximately $32,000. Larson Financial Group LLC bought a new position in AbbVie in the fourth quarter valued at approximately $37,000. Horrell Capital Management Inc. bought a new position in AbbVie in the fourth quarter valued at approximately $41,000. Finally, Capital Financial Planning LLC bought a new position in AbbVie in the fourth quarter valued at approximately $41,000. 68.33% of the stock is currently owned by institutional investors.
Shares of NYSE ABBV opened at $78.95 on Friday. AbbVie Inc has a 12 month low of $73.81 and a 12 month high of $100.23. The company has a market cap of $116.15 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.
AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.08. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.81 billion. During the same period in the previous year, the company posted $1.87 EPS. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc will post 8.81 earnings per share for the current fiscal year.
In other news, VP Brian L. Durkin sold 475 shares of AbbVie stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the transaction, the vice president now directly owns 9,121 shares in the company, valued at approximately $726,852.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.
ABBV has been the subject of a number of analyst reports. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research note on Friday, March 15th. Zacks Investment Research downgraded AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Barclays restated a “hold” rating and issued a $86.00 price target on shares of AbbVie in a research note on Thursday, February 14th. Goldman Sachs Group initiated coverage on AbbVie in a research note on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 price target for the company. Finally, BMO Capital Markets upgraded AbbVie from an “underperform” rating to a “market perform” rating and raised their price target for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $98.36.
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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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