Regent Investment Management LLC boosted its stake in AbbVie Inc (NYSE:ABBV) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,641 shares of the company’s stock after buying an additional 775 shares during the period. Regent Investment Management LLC’s holdings in AbbVie were worth $1,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Castle Rock Wealth Management LLC raised its holdings in shares of AbbVie by 20.0% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 4,749 shares of the company’s stock valued at $440,000 after purchasing an additional 791 shares in the last quarter. Twin Capital Management Inc. raised its holdings in shares of AbbVie by 20.7% in the 2nd quarter. Twin Capital Management Inc. now owns 111,872 shares of the company’s stock valued at $10,365,000 after purchasing an additional 19,222 shares in the last quarter. First Western Capital Management Co raised its holdings in shares of AbbVie by 17.0% in the 2nd quarter. First Western Capital Management Co now owns 9,017 shares of the company’s stock valued at $835,000 after purchasing an additional 1,310 shares in the last quarter. AMP Capital Investors Ltd raised its holdings in shares of AbbVie by 5.2% in the 2nd quarter. AMP Capital Investors Ltd now owns 859,929 shares of the company’s stock valued at $79,672,000 after purchasing an additional 42,592 shares in the last quarter. Finally, BB&T Securities LLC raised its holdings in shares of AbbVie by 2.0% in the 2nd quarter. BB&T Securities LLC now owns 678,741 shares of the company’s stock valued at $62,884,000 after purchasing an additional 13,040 shares in the last quarter. 70.63% of the stock is currently owned by hedge funds and other institutional investors.

NYSE ABBV opened at $80.85 on Tuesday. The company has a market cap of $121.62 billion, a P/E ratio of 10.22, a PEG ratio of 1.22 and a beta of 1.17. AbbVie Inc has a 52 week low of $75.77 and a 52 week high of $122.00.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.02). AbbVie had a negative return on equity of 1,343.27% and a net margin of 17.36%. The firm had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the firm earned $1.48 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc will post 8.69 earnings per share for the current year.

AbbVie declared that its Board of Directors has initiated a share buyback plan on Thursday, December 13th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other AbbVie news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $90.00, for a total transaction of $2,250,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Henry O. Gosebruch sold 42,450 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total transaction of $3,824,745.00. Following the transaction, the executive vice president now owns 30,350 shares in the company, valued at approximately $2,734,535. The disclosure for this sale can be found here. Insiders have sold a total of 263,440 shares of company stock worth $24,029,804 in the last 90 days. 0.07% of the stock is currently owned by company insiders.

Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Tuesday, January 8th. Barclays reiterated a “hold” rating and set a $86.00 price objective on shares of AbbVie in a research note on Thursday, February 14th. BMO Capital Markets reduced their price objective on shares of AbbVie from $78.00 to $71.00 and set an “underperform” rating for the company in a research note on Monday, November 5th. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research note on Friday, November 2nd. Finally, ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Hold” and a consensus target price of $96.60.

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AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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