Griffin Asset Management Inc. lessened its stake in AbbVie Inc. (NYSE:ABBV – Get Rating) by 13.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,343 shares of the company’s stock after selling 14,063 shares during the quarter. AbbVie comprises about 2.0% of Griffin Asset Management Inc.’s holdings, making the stock its 5th largest holding. Griffin Asset Management Inc.’s holdings in AbbVie were worth $15,294,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Marino Stram & Associates LLC increased its stake in AbbVie by 3.5% during the fourth quarter. Marino Stram & Associates LLC now owns 12,718 shares of the company’s stock worth $1,722,000 after acquiring an additional 431 shares during the last quarter. Oldfather Financial Services LLC acquired a new stake in AbbVie during the fourth quarter worth $250,000. International Assets Investment Management LLC increased its stake in AbbVie by 237.7% during the fourth quarter. International Assets Investment Management LLC now owns 185,150 shares of the company’s stock worth $1,696,000 after acquiring an additional 130,327 shares during the last quarter. RB Capital Management LLC increased its stake in AbbVie by 3.1% during the first quarter. RB Capital Management LLC now owns 9,115 shares of the company’s stock worth $1,478,000 after acquiring an additional 273 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC acquired a new stake in AbbVie during the fourth quarter worth $223,000. 67.03% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently commented on ABBV shares. UBS Group lowered AbbVie from a “buy” rating to a “neutral” rating and raised their price target for the stock from $129.00 to $147.00 in a research report on Monday, February 28th. SVB Leerink started coverage on AbbVie in a research report on Monday, May 23rd. They set an “underperform” rating and a $140.00 price target for the company. Morgan Stanley raised their price target on AbbVie from $142.00 to $192.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. Wells Fargo & Company lifted their target price on AbbVie from $165.00 to $200.00 in a report on Monday, May 2nd. Finally, StockNews.com upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Friday, April 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $159.75.
AbbVie (NYSE:ABBV – Get Rating) last posted its earnings results on Friday, April 29th. The company reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.01. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 14.02 EPS for the current fiscal year.
In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $150.81, for a total value of $15,081,000.00. Following the sale, the insider now owns 152,103 shares of the company’s stock, valued at approximately $22,938,653.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $155.00, for a total value of $13,013,800.00. Following the completion of the sale, the executive vice president now directly owns 16,623 shares in the company, valued at approximately $2,576,565. The disclosure for this sale can be found here. Insiders sold a total of 463,761 shares of company stock worth $70,609,771 in the last 90 days. 0.08% of the stock is currently owned by insiders.
AbbVie Profile (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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