HealthCor Management L.P. lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 24.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 749,410 shares of the company’s stock after selling 236,910 shares during the period. AbbVie makes up 2.4% of HealthCor Management L.P.’s holdings, making the stock its 19th biggest holding. HealthCor Management L.P.’s holdings in AbbVie were worth $72,475,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of AbbVie by 2.8% in the 4th quarter. BlackRock Inc. now owns 101,322,201 shares of the company’s stock valued at $9,798,871,000 after buying an additional 2,714,857 shares during the period. Geode Capital Management LLC raised its holdings in shares of AbbVie by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 16,042,851 shares of the company’s stock valued at $1,548,096,000 after buying an additional 697,191 shares during the period. Jennison Associates LLC raised its holdings in shares of AbbVie by 85.3% in the 4th quarter. Jennison Associates LLC now owns 11,353,745 shares of the company’s stock valued at $1,098,021,000 after buying an additional 5,227,056 shares during the period. Legal & General Group Plc raised its holdings in shares of AbbVie by 0.9% in the 3rd quarter. Legal & General Group Plc now owns 8,117,840 shares of the company’s stock valued at $721,349,000 after buying an additional 68,489 shares during the period. Finally, Capital International Investors raised its holdings in shares of AbbVie by 137.7% in the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock valued at $697,989,000 after buying an additional 4,550,954 shares during the period. Institutional investors own 70.30% of the company’s stock.
Several research analysts recently commented on ABBV shares. Credit Suisse Group set a $135.00 target price on AbbVie and gave the stock a “hold” rating in a research note on Monday, January 29th. Leerink Swann cut AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price for the company. in a research note on Monday, January 29th. Jefferies Group set a $145.00 target price on AbbVie and gave the stock a “buy” rating in a research note on Monday, February 26th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Finally, BMO Capital Markets set a $95.00 target price on AbbVie and gave the stock a “sell” rating in a research note on Tuesday, March 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $116.38.
AbbVie opened at $105.32 on Friday, Marketbeat Ratings reports. The stock has a market cap of $166.69 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 0.99 and a beta of 1.59. AbbVie Inc. has a 1 year low of $104.20 and a 1 year high of $104.97. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 8.70.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.08. The business had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $7.60 billion. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. research analysts forecast that AbbVie Inc. will post 7.8 earnings per share for the current year.
AbbVie announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 15th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, EVP Carlos Alban sold 83,574 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $114.49, for a total transaction of $9,568,387.26. Following the completion of the transaction, the executive vice president now directly owns 133,026 shares of the company’s stock, valued at approximately $15,230,146.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,197 shares of company stock valued at $24,585,575. Insiders own 0.07% of the company’s stock.
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.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.