Investment Centers of America Inc. cut its stake in AbbVie Inc (NYSE:ABBV) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,870 shares of the company’s stock after selling 4,598 shares during the period. Investment Centers of America Inc.’s holdings in AbbVie were worth $6,040,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Research Global Investors grew its position in AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after acquiring an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. grew its position in AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after acquiring an additional 3,706,941 shares during the last quarter. BlackRock Inc. grew its position in AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after acquiring an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd grew its position in AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after acquiring an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd grew its position in AbbVie by 8.6% during the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after acquiring an additional 937,500 shares during the last quarter. 69.33% of the stock is owned by institutional investors and hedge funds.
In other news, insider Laura J. Schumacher sold 145,510 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the transaction, the senior vice president now owns 113,118 shares in the company, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders sold a total of 450,743 shares of company stock worth $43,153,684 over the last 90 days. 0.23% of the stock is owned by corporate insiders.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The business had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the company earned $1.20 EPS. The firm’s revenue was up 13.9% on a year-over-year basis. equities analysts forecast that AbbVie Inc will post 7.46 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on ABBV shares. BMO Capital Markets set a $66.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Friday, October 27th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. Piper Jaffray Companies increased their price target on AbbVie to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. SunTrust Banks restated a “buy” rating on shares of AbbVie in a research report on Monday, October 30th. Finally, Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. AbbVie has an average rating of “Buy” and an average price target of $117.26.
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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