Spearhead Capital Advisors LLC cut its position in AbbVie Inc (NYSE:ABBV) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,992 shares of the company’s stock after selling 794 shares during the period. Spearhead Capital Advisors LLC’s holdings in AbbVie were worth $5,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ABBV. Hoey Investments Inc. acquired a new position in AbbVie during the fourth quarter worth $31,000. Pacifica Partners Inc. acquired a new position in AbbVie during the fourth quarter worth $50,000. Edge Wealth Management LLC boosted its stake in AbbVie by 106.1% during the third quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock worth $43,000 after buying an additional 295 shares during the last quarter. Savior LLC purchased a new stake in AbbVie in the fourth quarter valued at $53,000. Finally, Massey Quick Simon & CO. LLC raised its position in AbbVie by 2,400.0% in the third quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock valued at $47,000 after purchasing an additional 600 shares during the period. 70.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ABBV stock traded down $1.30 on Friday, hitting $94.05. The stock had a trading volume of 11,174,416 shares, compared to its average volume of 9,715,954. The firm has a market capitalization of $140.12 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.18 and a beta of 0.96. AbbVie Inc has a 1 year low of $62.66 and a 1 year high of $97.86. The company’s 50 day moving average price is $87.87 and its 200-day moving average price is $79.13.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 7th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.02. The firm had revenue of $8.70 billion for the quarter, compared to the consensus estimate of $8.68 billion. AbbVie had a negative return on equity of 162.37% and a net margin of 23.69%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 EPS. Equities analysts forecast that AbbVie Inc will post 9.66 earnings per share for the current fiscal year.

A number of research firms have commented on ABBV. Citigroup lifted their target price on AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Piper Jaffray Companies lifted their target price on AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. ValuEngine downgraded AbbVie from a “sell” rating to a “strong sell” rating in a research report on Thursday. Cowen lifted their target price on AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Finally, UBS Group lifted their target price on AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. AbbVie presently has an average rating of “Hold” and an average price target of $88.51.

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.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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