Duncker Streett & Co. Inc. increased its position in AbbVie Inc. (NYSE:ABBV) by 4.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 66,154 shares of the company’s stock after buying an additional 3,022 shares during the period. AbbVie accounts for 1.4% of Duncker Streett & Co. Inc.’s investment portfolio, making the stock its 9th largest position. Duncker Streett & Co. Inc.’s holdings in AbbVie were worth $4,311,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Gyroscope Capital Management Group LLC boosted its stake in AbbVie by 5.9% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 70,185 shares of the company’s stock worth $4,395,000 after buying an additional 3,926 shares during the period. Toth Financial Advisory Corp boosted its stake in AbbVie by 2.6% in the first quarter. Toth Financial Advisory Corp now owns 61,012 shares of the company’s stock worth $3,976,000 after buying an additional 1,536 shares during the period. First Capital Advisors Group LLC. bought a new stake in AbbVie during the fourth quarter worth approximately $1,117,000. Raymond James Financial Services Advisors Inc. boosted its stake in AbbVie by 77.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 833,464 shares of the company’s stock worth $52,191,000 after buying an additional 363,937 shares during the period. Finally, Orbis Allan Gray Ltd boosted its stake in AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock worth $343,496,000 after buying an additional 579,378 shares during the period. Institutional investors own 68.02% of the company’s stock.
AbbVie Inc. (NYSE ABBV) opened at 73.18 on Friday. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $73.67. The stock has a market capitalization of $116.47 billion, a price-to-earnings ratio of 18.97 and a beta of 1.52. The stock’s 50 day moving average is $67.41 and its 200 day moving average is $64.18.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 27th. The company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The firm had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.49 billion. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. Equities research analysts forecast that AbbVie Inc. will post $5.53 EPS for the current fiscal year.
A number of equities analysts have issued reports on ABBV shares. Jefferies Group LLC reissued a “buy” rating and set a $90.00 price target (up from $4.30) on shares of AbbVie in a research report on Tuesday, March 7th. Goldman Sachs Group, Inc. (The) raised shares of AbbVie from a “buy” rating to a “conviction-buy” rating and raised their price target for the stock from $74.00 to $80.00 in a research report on Saturday, March 11th. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price target for the company in a research report on Monday, May 8th. Deutsche Bank AG raised their price target on shares of AbbVie from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, Societe Generale raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $73.27.
In other AbbVie news, EVP Carlos Alban sold 43,000 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $67.00, for a total value of $2,881,000.00. Following the completion of the transaction, the executive vice president now owns 114,745 shares in the company, valued at $7,687,915. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laura J. Schumacher sold 79,800 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $5,586,000.00. Following the completion of the transaction, the insider now owns 187,625 shares of the company’s stock, valued at approximately $13,133,750. The disclosure for this sale can be found here. Insiders sold 278,135 shares of company stock valued at $18,841,085 in the last quarter. 0.23% of the stock is currently owned by company insiders.
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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