AbbVie Inc. (ABBV) Stake Raised by Meadow Creek Investment Management LLC

Meadow Creek Investment Management LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 316.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,380 shares of the company’s stock after buying an additional 65,660 shares during the period. Meadow Creek Investment Management LLC’s holdings in AbbVie were worth $8,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ABBV. Cobblestone Capital Advisors LLC NY raised its holdings in AbbVie by 9.9% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 16,460 shares of the company’s stock worth $1,463,000 after purchasing an additional 1,478 shares in the last quarter. Retirement Systems of Alabama raised its holdings in AbbVie by 2.2% during the third quarter. Retirement Systems of Alabama now owns 1,244,681 shares of the company’s stock worth $110,602,000 after purchasing an additional 27,324 shares in the last quarter. Intrust Bank NA grew its position in AbbVie by 3.7% in the third quarter. Intrust Bank NA now owns 16,255 shares of the company’s stock worth $1,445,000 after buying an additional 578 shares during the last quarter. Jarislowsky Fraser Ltd grew its position in AbbVie by 0.7% in the third quarter. Jarislowsky Fraser Ltd now owns 259,444 shares of the company’s stock worth $23,054,000 after buying an additional 1,840 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC grew its position in AbbVie by 26.4% in the third quarter. Summit Financial Wealth Advisors LLC now owns 82,308 shares of the company’s stock worth $7,314,000 after buying an additional 17,183 shares during the last quarter. 70.30% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on the stock. BMO Capital Markets restated a “sell” rating and issued a $81.00 price target on shares of AbbVie in a research report on Tuesday, May 1st. Morgan Stanley decreased their price target on shares of AbbVie from $131.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, April 30th. Credit Suisse Group decreased their price target on shares of AbbVie from $109.00 to $104.00 and set a “neutral” rating on the stock in a research report on Friday, April 27th. Jefferies Group set a $122.00 price target on shares of AbbVie and gave the stock a “buy” rating in a research report on Friday, April 13th. Finally, Barclays decreased their price target on shares of AbbVie from $120.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $116.38.

In other AbbVie news, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total transaction of $119,347.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William J. Chase sold 70,928 shares of AbbVie stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the transaction, the chief financial officer now owns 203,391 shares in the company, valued at $23,833,357.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,197 shares of company stock worth $24,585,575. Corporate insiders own 0.07% of the company’s stock.

NYSE ABBV opened at $105.98 on Friday. AbbVie Inc. has a twelve month low of $64.80 and a twelve month high of $125.86. The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.10 and a current ratio of 1.20. The company has a market cap of $167.13 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.00 and a beta of 1.59.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.08. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The firm had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.60 billion. During the same period in the previous year, the company posted $1.28 EPS. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. equities analysts expect that AbbVie Inc. will post 7.8 earnings per share for the current year.

AbbVie announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 15th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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