Hartford Investment Management Co. cut its position in shares of AbbVie Inc (NYSE:ABBV) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 365,010 shares of the company’s stock after selling 1,508 shares during the quarter. Hartford Investment Management Co.’s holdings in AbbVie were worth $32,435,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nicolet Bankshares Inc. boosted its stake in AbbVie by 1.4% in the second quarter. Nicolet Bankshares Inc. now owns 5,036 shares of the company’s stock valued at $365,000 after acquiring an additional 70 shares during the last quarter. Nwam LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at approximately $329,000. CAPROCK Group Inc. lifted its stake in shares of AbbVie by 16.4% during the 2nd quarter. CAPROCK Group Inc. now owns 21,888 shares of the company’s stock valued at $1,587,000 after buying an additional 3,085 shares in the last quarter. Lee Financial Co lifted its stake in shares of AbbVie by 21.4% during the 2nd quarter. Lee Financial Co now owns 21,990 shares of the company’s stock valued at $1,595,000 after buying an additional 3,872 shares in the last quarter. Finally, Accuvest Global Advisors lifted its stake in shares of AbbVie by 10.5% during the 2nd quarter. Accuvest Global Advisors now owns 8,020 shares of the company’s stock valued at $582,000 after buying an additional 764 shares in the last quarter. Institutional investors and hedge funds own 69.54% of the company’s stock.

In other news, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the transaction, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. Insiders sold a total of 450,743 shares of company stock worth $43,153,684 in the last three months. Insiders own 0.23% of the company’s stock.

ABBV has been the topic of a number of recent research reports. Credit Suisse Group set a $135.00 price target on shares of AbbVie and gave the company a “hold” rating in a research note on Monday, January 29th. Societe Generale upped their price target on shares of AbbVie in a research note on Tuesday, November 21st. Leerink Swann cut shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price target on the stock. in a research note on Monday, January 29th. BMO Capital Markets set a $84.00 target price on shares of AbbVie and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Jefferies Group upped their target price on shares of AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and an average price target of $117.26.

Shares of AbbVie Inc (ABBV) opened at $111.30 on Friday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The firm has a market cap of $173,180.72, a P/E ratio of 33.83, a P/E/G ratio of 1.03 and a beta of 1.60. AbbVie Inc has a twelve month low of $60.15 and a twelve month high of $125.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. analysts forecast that AbbVie Inc will post 7.46 earnings per share for the current fiscal year.

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AbbVie Profile

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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