HighPoint Advisor Group LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,644 shares of the company’s stock after selling 929 shares during the period. AbbVie makes up approximately 1.5% of HighPoint Advisor Group LLC’s portfolio, making the stock its 13th biggest position. HighPoint Advisor Group LLC’s holdings in AbbVie were worth $5,217,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Truewealth LLC bought a new position in shares of AbbVie in the 4th quarter worth about $126,000. Delpha Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter worth about $131,000. Virtue Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter worth about $139,000. Trustcore Financial Services LLC bought a new position in shares of AbbVie in the 4th quarter worth about $148,000. Finally, Premia Global Advisors LLC bought a new position in shares of AbbVie in the 4th quarter worth about $155,000. 69.48% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO William J. Chase sold 70,928 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $117.18, for a total value of $8,311,343.04. Following the transaction, the chief financial officer now owns 203,391 shares in the company, valued at approximately $23,833,357.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Carlos Alban sold 83,574 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $114.49, for a total value of $9,568,387.26. Following the completion of the transaction, the executive vice president now owns 133,026 shares in the company, valued at approximately $15,230,146.74. The disclosure for this sale can be found here. Insiders sold a total of 210,205 shares of company stock worth $24,466,228 in the last 90 days. Company insiders own 0.07% of the company’s stock.
ABBV has been the subject of a number of research analyst reports. Piper Jaffray Companies boosted their target price on AbbVie from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Leerink Swann lowered AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price for the company. in a research report on Monday, January 29th. SunTrust Banks boosted their target price on AbbVie to $157.00 and gave the company an “average” rating in a research report on Monday, January 29th. BMO Capital Markets lowered AbbVie from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Credit Suisse Group set a $135.00 target price on AbbVie and gave the company a “hold” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $116.20.
Shares of ABBV opened at $103.14 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.10. The company has a market cap of $167.57 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.00 and a beta of 1.59. AbbVie Inc. has a 52 week low of $65.61 and a 52 week high of $125.86.
AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.08. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The firm had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.60 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. analysts expect that AbbVie Inc. will post 7.8 EPS for the current year.
AbbVie declared that its Board of Directors has authorized a share repurchase program on Thursday, February 15th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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