BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 154.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 141,203 shares of the company’s stock after acquiring an additional 85,779 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in AbbVie were worth $10,758,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Efficient Wealth Management LLC bought a new position in shares of AbbVie in the first quarter valued at approximately $27,000. Altshuler Shaham Ltd increased its stake in AbbVie by 8,825.0% during the fourth quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock valued at $32,000 after acquiring an additional 353 shares during the period. Solstein Capital LLC acquired a new position in shares of AbbVie in the fourth quarter valued at $32,000. Americana Partners LLC bought a new position in shares of AbbVie during the 4th quarter worth about $32,000. Finally, Virtus ETF Advisers LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $33,000. 72.17% of the stock is owned by institutional investors.
Several equities analysts have issued reports on ABBV shares. Societe Generale downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, March 23rd. UBS Group cut their price objective on shares of AbbVie from $106.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Bank of America started coverage on shares of AbbVie in a report on Monday, May 18th. They set a “neutral” rating and a $95.00 target price for the company. SVB Leerink increased their price target on AbbVie from $107.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Piper Sandler lifted their price objective on AbbVie from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $98.23.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 1st. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.17. The business had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.31 billion. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. AbbVie’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 EPS. As a group, research analysts anticipate that AbbVie Inc will post 10.7 earnings per share for the current fiscal year.
In other AbbVie news, VP Brian L. Durkin acquired 2,200 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $68.18 per share, with a total value of $149,996.00. Following the completion of the transaction, the vice president now directly owns 15,294 shares in the company, valued at approximately $1,042,744.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Brian L. Durkin acquired 3,750 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was bought at an average price of $68.82 per share, for a total transaction of $258,075.00. Following the completion of the acquisition, the vice president now owns 15,294 shares of the company’s stock, valued at $1,052,533.08. The disclosure for this purchase can be found here. Insiders have bought 8,825 shares of company stock valued at $671,852 in the last three months. 0.09% of the stock is owned by insiders.
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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