AbbVie Inc (ABBV) is SFE Investment Counsel’s 6th Largest Position
SFE Investment Counsel reduced its position in AbbVie Inc (NYSE:ABBV) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,740 shares of the company’s stock after selling 806 shares during the period. AbbVie makes up 2.7% of SFE Investment Counsel’s holdings, making the stock its 6th largest position. SFE Investment Counsel’s holdings in AbbVie were worth $7,346,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the company. Gyroscope Capital Management Group LLC boosted its stake in shares of AbbVie by 5.9% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 70,185 shares of the company’s stock worth $4,395,000 after buying an additional 3,926 shares during the period. Kempen Capital Management N.V. purchased a new stake in shares of AbbVie during the third quarter worth about $19,889,000. Toth Financial Advisory Corp boosted its stake in shares of AbbVie by 2.6% in the first quarter. Toth Financial Advisory Corp now owns 61,012 shares of the company’s stock worth $3,976,000 after buying an additional 1,536 shares during the period. First Capital Advisors Group LLC. purchased a new stake in shares of AbbVie during the fourth quarter worth about $1,117,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in AbbVie by 77.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 833,464 shares of the company’s stock valued at $52,191,000 after buying an additional 363,937 shares during the last quarter. 66.67% of the stock is owned by hedge funds and other institutional investors.
Shares of AbbVie Inc (NYSE:ABBV) opened at 66.06 on Monday. AbbVie Inc has a 12-month low of $55.06 and a 12-month high of $68.12. The stock has a 50 day moving average of $65.50 and a 200 day moving average of $63.22. The company has a market cap of $105.14 billion, a price-to-earnings ratio of 17.12 and a beta of 1.57.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, April 27th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.02. AbbVie had a net margin of 23.22% and a return on equity of 141.55%. The firm had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. AbbVie’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts predict that AbbVie Inc will post $5.53 earnings per share for the current fiscal year.
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Several equities analysts recently weighed in on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $63.00 target price on shares of AbbVie in a research note on Tuesday, April 18th. Jefferies Group LLC reaffirmed a “buy” rating on shares of AbbVie in a research note on Friday. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 target price for the company. in a research note on Monday, May 15th. Leerink Swann set a $71.00 target price on shares of AbbVie and gave the company a “hold” rating in a research note on Thursday, April 20th. Finally, Societe Generale raised shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, March 22nd. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $72.18.
In related news, CFO William J. Chase sold 38,300 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $65.35, for a total value of $2,502,905.00. Following the completion of the sale, the chief financial officer now owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert A. Michael sold 5,132 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $65.29, for a total transaction of $335,068.28. Following the completion of the sale, the vice president now directly owns 16,706 shares of the company’s stock, valued at approximately $1,090,734.74. The disclosure for this sale can be found here. Insiders sold 292,134 shares of company stock valued at $19,087,407 in the last three months. 0.11% of the stock is currently owned by insiders.
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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