Jupiter Asset Management Ltd. cut its holdings in AbbVie Inc (NYSE:ABBV) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 576,834 shares of the company’s stock after selling 26,526 shares during the quarter. AbbVie accounts for 1.7% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 10th biggest holding. Jupiter Asset Management Ltd.’s holdings in AbbVie were worth $51,257,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Sanders Capital LLC raised its position in shares of AbbVie by 0.7% during the second quarter. Sanders Capital LLC now owns 627,533 shares of the company’s stock worth $45,502,000 after purchasing an additional 4,400 shares during the period. American Trust Investment Advisors LLC raised its position in shares of AbbVie by 2.1% during the second quarter. American Trust Investment Advisors LLC now owns 4,865 shares of the company’s stock worth $353,000 after purchasing an additional 100 shares during the period. Spinnaker Trust raised its position in shares of AbbVie by 42.2% during the second quarter. Spinnaker Trust now owns 4,630 shares of the company’s stock worth $336,000 after purchasing an additional 1,374 shares during the period. Bbva Compass Bancshares Inc. raised its position in shares of AbbVie by 1.7% during the second quarter. Bbva Compass Bancshares Inc. now owns 38,975 shares of the company’s stock worth $2,826,000 after purchasing an additional 669 shares during the period. Finally, Warren Averett Asset Management LLC raised its position in shares of AbbVie by 12.8% during the second quarter. Warren Averett Asset Management LLC now owns 9,921 shares of the company’s stock worth $719,000 after purchasing an additional 1,123 shares during the period. 69.54% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Inc (NYSE ABBV) opened at $113.62 on Thursday. The stock has a market capitalization of $177,523.00, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc has a 12 month low of $60.05 and a 12 month high of $125.86.
Several equities research analysts recently issued reports on ABBV shares. Credit Suisse Group set a $135.00 price target on AbbVie and gave the stock a “hold” rating in a report on Monday, January 29th. Societe Generale upped their price target on AbbVie in a report on Tuesday, November 21st. Leerink Swann downgraded AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price target for the company. in a report on Monday, January 29th. BMO Capital Markets set a $84.00 price target on AbbVie and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Jefferies Group upped their price target on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $117.26.
In other news, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the transaction, the chairman now owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders sold a total of 476,376 shares of company stock valued at $45,580,873 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.
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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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