Zuckerman Investment Group LLC reduced its stake in AbbVie Inc (NYSE:ABBV) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,628 shares of the company’s stock after selling 705 shares during the period. AbbVie accounts for approximately 1.7% of Zuckerman Investment Group LLC’s holdings, making the stock its 19th biggest position. Zuckerman Investment Group LLC’s holdings in AbbVie were worth $6,720,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Capital Research Global Investors lifted its stake in AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after purchasing an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. lifted its stake in AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after purchasing an additional 3,706,941 shares during the last quarter. BlackRock Inc. lifted its stake in AbbVie by 2.0% during the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after purchasing an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd lifted its stake in AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after purchasing an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd lifted its stake in AbbVie by 8.6% during the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after purchasing an additional 937,500 shares during the last quarter. 69.33% of the stock is owned by institutional investors.
Several analysts recently commented on ABBV shares. Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Piper Jaffray Companies increased their target price on shares of AbbVie to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. BMO Capital Markets set a $66.00 target price on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, Leerink Swann cut their target price on shares of AbbVie from $108.00 to $107.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. AbbVie presently has an average rating of “Buy” and a consensus price target of $117.26.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. research analysts forecast that AbbVie Inc will post 7.46 earnings per share for the current year.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction 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 approximately $11,136,467.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 450,743 shares of company stock worth $43,153,684. Company insiders own 0.23% of the company’s stock.
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AbbVie Company 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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