Premia Global Advisors LLC purchased a new position in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,604 shares of the company’s stock, valued at approximately $155,000.
A number of other hedge funds have also bought and sold shares of the business. Dock Street Asset Management Inc. raised its holdings in shares of AbbVie by 10.6% during the 4th quarter. Dock Street Asset Management Inc. now owns 80,830 shares of the company’s stock worth $7,817,000 after acquiring an additional 7,751 shares in the last quarter. Middleton & Co Inc MA raised its holdings in shares of AbbVie by 7.2% during the 4th quarter. Middleton & Co Inc MA now owns 150,457 shares of the company’s stock worth $14,551,000 after acquiring an additional 10,086 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $544,418,000. Capital International Investors raised its holdings in shares of AbbVie by 137.7% during the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after acquiring an additional 4,550,954 shares in the last quarter. Finally, Bank of Stockton raised its holdings in shares of AbbVie by 28.1% during the 4th quarter. Bank of Stockton now owns 13,558 shares of the company’s stock worth $1,310,000 after acquiring an additional 2,972 shares in the last quarter. Institutional investors and hedge funds own 70.30% of the company’s stock.
NYSE:ABBV opened at $105.32 on Friday. AbbVie Inc. has a fifty-two week low of $104.20 and a fifty-two week high of $104.97. The firm has a market cap of $166.69 billion, a P/E ratio of 18.81, a P/E/G ratio of 0.99 and a beta of 1.59. The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.10 and a current ratio of 1.20.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.08. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The company had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.60 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. AbbVie’s quarterly revenue was up 21.4% compared to the same quarter last year. sell-side analysts forecast that AbbVie Inc. will post 7.8 EPS for the current year.
AbbVie announced that its board 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 buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other AbbVie news, Chairman Richard A. Gonzalez sold 8,280 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $117.88, for a total value of $976,046.40. Following the sale, the chairman now owns 321,292 shares in the company, valued at $37,873,900.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO William J. Chase sold 70,928 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 203,391 shares in the company, valued at approximately $23,833,357.38. The disclosure for this sale can be found here. Insiders have sold a total of 211,197 shares of company stock worth $24,585,575 in the last 90 days. 0.07% of the stock is currently owned by insiders.
Several analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “sell” rating and set a $81.00 price objective on shares of AbbVie in a report on Tuesday, May 1st. Credit Suisse Group set a $109.00 price objective on AbbVie and gave the stock a “hold” rating in a report on Tuesday, April 10th. Jefferies Group set a $122.00 price objective on AbbVie and gave the stock a “buy” rating in a report on Friday, April 13th. Evercore ISI reaffirmed a “buy” rating and set a $144.00 price objective on shares of AbbVie in a report on Monday, January 29th. Finally, Barclays decreased their price objective on AbbVie from $120.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $116.38.
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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