Garde Capital Inc. purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the third quarter, Holdings Channel reports. The institutional investor purchased 10,211 shares of the company’s stock, valued at approximately $556,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Penserra Capital Management LLC increased its position in 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. First PREMIER Bank increased its position in 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 increased its position in 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. Proficio Capital Partners LLC increased its position in 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. Finally, D. Scott Neal Inc. increased its position in AbbVie by 42.7% in the third quarter. D. Scott Neal Inc. now owns 2,853 shares of the company’s stock worth $180,000 after buying an additional 854 shares during the period. 66.67% of the stock is currently owned by institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) opened at 60.51 on Tuesday. The stock has a market cap of $98.33 billion, a price-to-earnings ratio of 16.67 and a beta of 1.57. The company has a 50-day moving average of $61.67 and a 200 day moving average of $62.49. AbbVie Inc. has a one year low of $51.60 and a one year high of $68.12.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 27th. The company reported $1.20 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.20. AbbVie had a return on equity of 141.55% and a net margin of 23.22%. The company earned $6.78 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post $5.48 earnings per share for the current fiscal year.
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ABBV has been the topic of a number of analyst reports. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.75 price objective on the stock. in a research report on Monday, December 12th. Citigroup Inc. reiterated a “buy” rating on shares of AbbVie in a research note on Tuesday, November 8th. Jefferies Group LLC reiterated a “buy” rating and issued a $90.00 target price on shares of AbbVie in a research note on Tuesday, November 1st. Finally, Leerink Swann reiterated a “hold” rating on shares of AbbVie in a research note on Tuesday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $70.17.
In other news, CFO William J. Chase sold 6,600 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was 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 owns 178,970 shares in the company, valued at $10,593,234.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.11% of the company’s stock.
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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