Bruderman Asset Management LLC Sells 31,216 Shares of AbbVie Inc (ABBV)

Bruderman Asset Management LLC lessened its stake in shares of AbbVie Inc (NYSE:ABBV) by 26.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,772 shares of the company’s stock after selling 31,216 shares during the quarter. AbbVie comprises 1.9% of Bruderman Asset Management LLC’s portfolio, making the stock its 18th largest holding. Bruderman Asset Management LLC’s holdings in AbbVie were worth $7,533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Capital Research Global Investors grew its holdings in AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after buying an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. grew its holdings in AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. BlackRock Inc. grew its holdings in AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after buying an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd grew its holdings in AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after buying an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd grew its holdings in AbbVie by 8.6% during the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after buying an additional 937,500 shares in the last quarter. 69.54% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on ABBV. ValuEngine raised AbbVie from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Leerink Swann set a $106.00 price target on AbbVie and gave the company a “buy” rating in a research report on Tuesday, December 5th. Credit Suisse Group set a $135.00 price target on AbbVie and gave the company a “hold” rating in a research report on Monday, January 29th. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, BMO Capital Markets set a $66.00 price target on AbbVie and gave the company a “hold” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $117.26.

In related news, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 450,743 shares of company stock valued at $43,153,684 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Shares of AbbVie Inc (NYSE ABBV) opened at $111.30 on Friday. The stock has a market capitalization of $177,420.00, a PE ratio of 27.01, a PEG ratio of 1.08 and a beta of 1.61. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc has a 12-month low of $60.15 and a 12-month high of $125.86.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. The company had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. AbbVie’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. sell-side analysts forecast that AbbVie Inc will post 7.46 earnings per share for the current year.

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About AbbVie

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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