Morgens Waterfall Vintiadis & Co. Inc. Purchases Shares of 5,665 AbbVie Inc. (ABBV)

Morgens Waterfall Vintiadis & Co. Inc. purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,665 shares of the company’s stock, valued at approximately $548,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Truewealth LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $126,000. Delpha Capital Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $131,000. Virtue Capital Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $139,000. Trustcore Financial Services LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $148,000. Finally, Acropolis Investment Management LLC boosted its holdings in shares of AbbVie by 68.3% during the 4th quarter. Acropolis Investment Management LLC now owns 1,855 shares of the company’s stock valued at $179,000 after buying an additional 753 shares in the last quarter. Institutional investors and hedge funds own 70.30% of the company’s stock.

In other AbbVie news, VP Robert A. Michael sold 992 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carlos Alban sold 83,574 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $114.49, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders sold 211,197 shares of company stock valued at $24,585,575. 0.07% of the stock is owned by insiders.

Shares of AbbVie opened at $105.32 on Friday, MarketBeat reports. AbbVie Inc. has a fifty-two week low of $104.20 and a fifty-two week 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. The stock has a market capitalization of $166.69 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 0.99 and a beta of 1.59.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.60 billion. During the same quarter in the previous year, the firm earned $1.28 EPS. AbbVie’s revenue was up 21.4% on a year-over-year basis. sell-side analysts forecast that AbbVie Inc. will post 7.8 earnings per share for the current year.

AbbVie declared that its Board of Directors has authorized a share buyback program on Thursday, February 15th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

ABBV has been the topic of a number of research reports. BMO Capital Markets cut shares of AbbVie from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $125.86 to $84.00 in a report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Credit Suisse Group set a $98.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Monday, January 22nd. SunTrust Banks lifted their price target on AbbVie to $157.00 and gave the stock an “average” rating in a research report on Monday, January 29th. Finally, Bank of America set a $120.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Monday, March 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $116.38.

AbbVie Company Profile

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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