Levin Capital Strategies L.P. Takes $381,000 Position in AbbVie Inc (NYSE:ABBV)

Levin Capital Strategies L.P. bought a new stake in AbbVie Inc (NYSE:ABBV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,000 shares of the company’s stock, valued at approximately $381,000.

Other institutional investors have also made changes to their positions in the company. Efficient Wealth Management LLC purchased a new stake in shares of AbbVie in the 1st quarter worth about $27,000. Altshuler Shaham Ltd boosted its position in shares of AbbVie by 8,825.0% in the 4th quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock worth $32,000 after buying an additional 353 shares in the last quarter. Solstein Capital LLC acquired a new position in AbbVie in the 4th quarter valued at about $32,000. Americana Partners LLC acquired a new position in AbbVie in the 4th quarter valued at about $32,000. Finally, Virtus ETF Advisers LLC acquired a new position in AbbVie in the 4th quarter valued at about $33,000. 72.44% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on ABBV shares. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the company from $91.40 to $115.00 in a research note on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $95.00 target price on shares of AbbVie in a research note on Monday, May 11th. Barclays started coverage on shares of AbbVie in a research note on Thursday, February 27th. They issued an “equal weight” rating and a $97.00 target price for the company. Societe Generale downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Mizuho reissued a “buy” rating and issued a $100.00 target price on shares of AbbVie in a research note on Friday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $101.31.

In other news, VP Brian L. Durkin bought 3,750 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $68.82 per share, for a total transaction of $258,075.00. Following the acquisition, the vice president now owns 15,294 shares of the company’s stock, valued at $1,052,533.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 19,445 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $85.00, for a total value of $1,652,825.00. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Shares of NYSE ABBV traded down $0.32 on Tuesday, reaching $90.38. 5,277,736 shares of the company traded hands, compared to its average volume of 13,018,193. AbbVie Inc has a fifty-two week low of $62.55 and a fifty-two week high of $97.86. The company has a 50 day moving average of $86.26 and a 200 day moving average of $85.88. The stock has a market capitalization of $136.85 billion, a PE ratio of 16.00, a P/E/G ratio of 1.96 and a beta of 0.85.

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

AbbVie 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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