Boston Private Wealth LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 479,830 shares of the company’s stock after buying an additional 18,420 shares during the period. AbbVie comprises approximately 1.2% of Boston Private Wealth LLC’s holdings, making the stock its 14th largest position. Boston Private Wealth LLC’s holdings in AbbVie were worth $30,263,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Penserra Capital Management LLC boosted its stake in shares of AbbVie by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,764 shares of the company’s stock worth $111,000 after buying an additional 882 shares during the period. Glassman Wealth Services boosted its stake in shares of AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock worth $113,000 after buying an additional 1,256 shares during the period. First PREMIER Bank boosted its stake in shares of AbbVie by 1,850.0% in the third quarter. First PREMIER Bank now owns 1,950 shares of the company’s stock worth $123,000 after buying an additional 1,850 shares during the period. First Personal Financial Services boosted its stake in shares of AbbVie by 85.1% in the second quarter. First Personal Financial Services now owns 2,236 shares of the company’s stock worth $138,000 after buying an additional 1,028 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in shares of AbbVie by 1.6% in the third quarter. Proficio Capital Partners LLC now owns 2,719 shares of the company’s stock worth $171,000 after buying an additional 43 shares during the period. Institutional investors own 67.25% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) opened at 60.42 on Friday. The firm’s 50-day moving average is $61.69 and its 200-day moving average is $62.54. AbbVie Inc. has a one year low of $52.73 and a one year high of $68.12. The stock has a market capitalization of $98.19 billion, a PE ratio of 16.64 and a beta of 1.57.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 27th. The company reported $1.20 EPS for the quarter, hitting analysts’ consensus estimates of $1.20. The company earned $6.78 billion during the quarter, compared to analysts’ expectations of $6.92 billion. AbbVie had a net margin of 23.22% and a return on equity of 141.55%. AbbVie’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. On average, analysts expect that AbbVie Inc. will post $5.48 earnings per share for the current fiscal year.
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Several brokerages have recently issued reports on ABBV. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.88 target price on the stock. in a research note on Tuesday, January 31st. Leerink Swann began coverage on shares of AbbVie in a research note on Tuesday, October 18th. They issued a “market perform” rating and a $70.00 target price on the stock. Citigroup Inc. downgraded shares of AbbVie from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research note on Monday, November 28th. Finally, Credit Suisse Group downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $60.00 in a research note on Monday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. AbbVie presently has an average rating of “Hold” and an average price target of $70.17.
In related news, CFO William J. Chase sold 6,600 shares of AbbVie stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $59.19, for a total value of $390,654.00. Following the completion of the sale, the chief financial officer now directly owns 178,970 shares in the company, valued at approximately $10,593,234.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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