Nicholas Hoffman & Company LLC. Purchases 1,058 Shares of AbbVie Inc (NYSE:ABBV)

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Nicholas Hoffman & Company LLC. grew its position in shares of AbbVie Inc (NYSE:ABBV) by 12.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,252 shares of the company’s stock after acquiring an additional 1,058 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in AbbVie were worth $705,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Efficient Wealth Management LLC bought a new position in shares of AbbVie during the 1st quarter valued at approximately $27,000. Altshuler Shaham Ltd raised its holdings in AbbVie by 8,825.0% during the 4th quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock valued at $32,000 after buying an additional 353 shares during the period. Solstein Capital LLC purchased a new stake in AbbVie during the 4th quarter valued at $32,000. Americana Partners LLC purchased a new stake in AbbVie during the 4th quarter valued at $32,000. Finally, Virtus ETF Advisers LLC purchased a new stake in AbbVie during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 72.17% of the company’s stock.

In other news, EVP Timothy J. Richmond sold 19,445 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $1,652,825.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jeffrey Ryan Stewart sold 23,024 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $90.00, for a total value of $2,072,160.00. Following the sale, the senior vice president now directly owns 52,760 shares in the company, valued at approximately $4,748,400. The disclosure for this sale can be found here. Insiders have bought a total of 8,825 shares of company stock worth $671,852 in the last three months. Corporate insiders own 0.09% of the company’s stock.

Several research firms recently weighed in on ABBV. Mizuho restated a “buy” rating and set a $100.00 price target on shares of AbbVie in a report on Friday, May 1st. Barclays began coverage on AbbVie in a report on Thursday, February 27th. They set an “equal weight” rating and a $97.00 price target on the stock. Morgan Stanley restated an “overweight” rating and set a $95.00 price target on shares of AbbVie in a report on Monday, May 11th. Royal Bank of Canada upgraded AbbVie from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $79.00 to $93.00 in a report on Monday, April 20th. Finally, Bank of America assumed coverage on AbbVie in a research note on Monday. They issued a “neutral” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $98.23.

Shares of ABBV traded down $1.04 during midday trading on Friday, reaching $91.98. 2,255,686 shares of the stock were exchanged, compared to its average volume of 13,309,068. AbbVie Inc has a 52 week low of $62.55 and a 52 week high of $97.86. The company’s 50 day moving average is $82.74 and its two-hundred day moving average is $85.37. The company has a market capitalization of $134.66 billion, a P/E ratio of 16.35, a PEG ratio of 1.93 and a beta of 0.82.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.17. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the prior year, the company earned $2.14 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. Analysts forecast that AbbVie Inc will post 10.7 earnings per share for the current fiscal year.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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