Quadrant Private Wealth Management LLC Grows Stake in AbbVie Inc (NYSE:ABBV)

Quadrant Private Wealth Management LLC lifted its stake in shares of AbbVie Inc (NYSE:ABBV) by 15.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,707 shares of the company’s stock after purchasing an additional 483 shares during the period. Quadrant Private Wealth Management LLC’s holdings in AbbVie were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Commerce Bank increased its stake in shares of AbbVie by 3.6% during the first quarter. Commerce Bank now owns 320,606 shares of the company’s stock worth $24,427,000 after purchasing an additional 11,224 shares in the last quarter. Trexquant Investment LP increased its stake in shares of AbbVie by 92.4% during the first quarter. Trexquant Investment LP now owns 59,948 shares of the company’s stock worth $4,567,000 after purchasing an additional 28,787 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of AbbVie by 13.4% during the first quarter. Hancock Whitney Corp now owns 98,800 shares of the company’s stock worth $7,528,000 after purchasing an additional 11,650 shares in the last quarter. Shoker Investment Counsel Inc. increased its stake in shares of AbbVie by 4.2% during the first quarter. Shoker Investment Counsel Inc. now owns 27,463 shares of the company’s stock worth $2,092,000 after purchasing an additional 1,113 shares in the last quarter. Finally, Citizens Financial Group Inc RI increased its stake in shares of AbbVie by 80.4% during the first quarter. Citizens Financial Group Inc RI now owns 32,462 shares of the company’s stock worth $2,473,000 after purchasing an additional 14,464 shares in the last quarter. 72.17% of the stock is owned by institutional investors and hedge funds.

In other news, VP Brian L. Durkin purchased 3,750 shares of the stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of $68.82 per share, for a total transaction of $258,075.00. Following the completion of the acquisition, the vice president now directly owns 15,294 shares in the company, valued at approximately $1,052,533.08. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jeffrey Ryan Stewart sold 23,024 shares of AbbVie stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the sale, the senior vice president now owns 52,760 shares of the company’s stock, valued at $4,748,400. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 8,825 shares of company stock valued at $671,852. Insiders own 0.09% of the company’s stock.

ABBV has been the subject of several research reports. Bank of America initiated coverage on shares of AbbVie in a research note on Monday. They set a “neutral” rating and a $95.00 price objective for the company. SVB Leerink upped their price objective on shares of AbbVie from $107.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Societe Generale cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 23rd. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 14th. Finally, JPMorgan Chase & Co. raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price objective for the company in a research note on Tuesday, May 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $98.23.

NYSE:ABBV traded down $0.64 during trading hours on Friday, reaching $92.38. 751,473 shares of the company’s stock were exchanged, compared to its average volume of 13,309,068. The firm has a market capitalization of $134.66 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.93 and a beta of 0.82. The company has a 50-day moving average of $82.74 and a 200 day moving average of $85.37. AbbVie Inc has a 1-year low of $62.55 and a 1-year high of $97.86.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 1st. The company reported $2.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.25 by $0.17. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter last year, the business earned $2.14 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc will post 10.7 earnings per share for the current fiscal year.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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