Summit Financial Wealth Advisors LLC boosted its stake in AbbVie Inc (NYSE:ABBV) by 26.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,308 shares of the company’s stock after purchasing an additional 17,183 shares during the quarter. AbbVie makes up 2.7% of Summit Financial Wealth Advisors LLC’s investment portfolio, making the stock its 6th largest position. Summit Financial Wealth Advisors LLC’s holdings in AbbVie were worth $7,314,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in ABBV. Country Club Trust Company n.a. increased its stake in AbbVie by 3.0% in the 2nd quarter. Country Club Trust Company n.a. now owns 4,568 shares of the company’s stock worth $332,000 after purchasing an additional 134 shares during the period. Koshinski Asset Management Inc. increased its stake in AbbVie by 28.2% in the 2nd quarter. Koshinski Asset Management Inc. now owns 11,770 shares of the company’s stock worth $853,000 after purchasing an additional 2,586 shares during the period. Alta Capital Management LLC increased its stake in AbbVie by 1.5% in the 2nd quarter. Alta Capital Management LLC now owns 27,365 shares of the company’s stock worth $1,984,000 after purchasing an additional 411 shares during the period. Atria Investments LLC grew its position in shares of AbbVie by 0.3% in the 2nd quarter. Atria Investments LLC now owns 85,167 shares of the company’s stock worth $6,175,000 after buying an additional 292 shares during the last quarter. Finally, Iberiabank Corp grew its position in shares of AbbVie by 1.2% in the 2nd quarter. Iberiabank Corp now owns 81,633 shares of the company’s stock worth $5,919,000 after buying an additional 934 shares during the last quarter. 69.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AbbVie Inc (ABBV) traded up $2.82 during trading on Friday, reaching $111.30. The company had a trading volume of 8,845,503 shares, compared to its average volume of 7,190,000. AbbVie Inc has a 52 week low of $60.15 and a 52 week high of $125.86. The company has a market capitalization of $177,420.00, a price-to-earnings ratio of 27.01, a PEG ratio of 1.06 and a beta of 1.61. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The business had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. sell-side analysts predict that AbbVie Inc will post 7.46 earnings per share for the current year.
A number of equities research analysts have recently weighed in on the company. ValuEngine upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Leerink Swann set a $106.00 price objective on AbbVie and gave the company a “buy” rating in a research note on Tuesday, December 5th. Credit Suisse Group set a $135.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Monday, January 29th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Finally, BMO Capital Markets set a $66.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. AbbVie currently has an average rating of “Buy” and a consensus price target of $117.26.
In related news, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 450,743 shares of company stock worth $43,153,684. Company insiders own 0.23% of the company’s stock.
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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