AbbVie Inc (ABBV) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC boosted its holdings in AbbVie Inc (NYSE:ABBV) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,582,527 shares of the company’s stock after purchasing an additional 880,288 shares during the period. Geode Capital Management LLC’s holdings in AbbVie were worth $1,617,957,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Pure Financial Advisors Inc. raised its stake in shares of AbbVie by 1.0% during the fourth quarter. Pure Financial Advisors Inc. now owns 11,606 shares of the company’s stock valued at $1,070,000 after acquiring an additional 116 shares during the last quarter. Planning Directions Inc. raised its stake in shares of AbbVie by 3.3% during the fourth quarter. Planning Directions Inc. now owns 3,890 shares of the company’s stock valued at $359,000 after acquiring an additional 126 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in shares of AbbVie by 1.0% during the fourth quarter. Integrated Investment Consultants LLC now owns 12,662 shares of the company’s stock valued at $1,168,000 after acquiring an additional 131 shares during the last quarter. NewSquare Capital LLC raised its stake in shares of AbbVie by 0.7% during the fourth quarter. NewSquare Capital LLC now owns 19,562 shares of the company’s stock valued at $1,803,000 after acquiring an additional 137 shares during the last quarter. Finally, D.B. Root & Company LLC raised its stake in shares of AbbVie by 1.4% during the fourth quarter. D.B. Root & Company LLC now owns 10,516 shares of the company’s stock valued at $969,000 after acquiring an additional 146 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.
ABBV has been the subject of several recent analyst reports. Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Credit Suisse Group set a $78.00 price objective on shares of AbbVie and gave the company a “sell” rating in a research note on Friday, April 26th. BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Zacks Investment Research downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Finally, ValuEngine downgraded shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Friday, February 22nd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $98.36.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, April 25th. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.08. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The company had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.81 billion. During the same quarter in the previous year, the company earned $1.87 earnings per share. AbbVie’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, research analysts forecast that AbbVie Inc will post 8.81 EPS for the current fiscal year.
In other AbbVie news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $79.03, for a total value of $1,248,436.91. Following the sale, the executive vice president now owns 93,312 shares in the company, valued at $7,374,447.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian L. Durkin sold 475 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 9,121 shares in the company, valued at approximately $726,852.49. The disclosure for this sale can be found here. Insiders have sold 41,272 shares of company stock worth $3,286,290 in the last quarter. 0.08% of the stock is owned by corporate insiders.
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AbbVie Company 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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