J.P. Marvel Investment Advisors LLC Lowers Stake in AbbVie Inc. (ABBV)

J.P. Marvel Investment Advisors LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the third quarter, Holdings Channel reports. The fund owned 81,738 shares of the company’s stock after selling 770 shares during the period. AbbVie comprises approximately 1.8% of J.P. Marvel Investment Advisors LLC’s holdings, making the stock its 23rd largest position. J.P. Marvel Investment Advisors LLC’s holdings in AbbVie were worth $5,155,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Kempen Capital Management N.V. purchased a new position in AbbVie during the third quarter worth $19,889,000. Alps Advisors Inc. boosted its position in AbbVie by 14.6% in the second quarter. Alps Advisors Inc. now owns 443,246 shares of the company’s stock worth $27,441,000 after buying an additional 56,506 shares during the period. Aperio Group LLC boosted its position in AbbVie by 5.2% in the third quarter. Aperio Group LLC now owns 752,585 shares of the company’s stock worth $47,466,000 after buying an additional 37,055 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in AbbVie by 4.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,701,437 shares of the company’s stock worth $296,520,000 after buying an additional 182,686 shares during the period. Finally, WASHINGTON TRUST Co boosted its position in AbbVie by 1.1% in the third quarter. WASHINGTON TRUST Co now owns 136,621 shares of the company’s stock worth $8,617,000 after buying an additional 1,543 shares during the period. 66.67% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Shares of AbbVie Inc. (NYSE:ABBV) opened at 60.51 on Tuesday. The stock has a market capitalization of $98.33 billion, a price-to-earnings ratio of 16.67 and a beta of 1.57. The firm’s 50 day moving average is $61.67 and its 200 day moving average is $62.49. AbbVie Inc. has a 52-week low of $51.60 and a 52-week high of $68.12.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 27th. The company reported $1.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.20. AbbVie had a return on equity of 141.55% and a net margin of 23.22%. The business earned $6.78 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post $5.48 earnings per share for the current year.

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A number of research analysts have recently commented on ABBV shares. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $67.75 price target on the stock in a report on Monday, November 21st. Leerink Swann started coverage on shares of AbbVie in a report on Tuesday, October 18th. They issued a “market perform” rating and a $70.00 price target on the stock. Jefferies Group LLC restated a “buy” rating and issued a $90.00 price target on shares of AbbVie in a report on Thursday, January 5th. Citigroup Inc. cut shares of AbbVie from a “buy” rating to a “neutral” rating and set a $60.00 price target on the stock. in a report on Monday, November 28th. Finally, Credit Suisse Group cut shares of AbbVie from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $70.00 to $60.00 in a report on Monday, October 31st. One research 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 stock currently has a consensus rating of “Hold” and a consensus target price of $70.17.

In other AbbVie news, CFO William J. Chase sold 6,600 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $59.19, for a total transaction of $390,654.00. Following the completion of the sale, the chief financial officer now owns 178,970 shares in the company, valued at approximately $10,593,234.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.

About AbbVie

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.

5 Day Chart for NYSE:ABBV

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