Channing Capital Management LLC decreased its position in AbbVie Inc (NYSE:ABBV) by 29.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 62,619 shares of the company’s stock after selling 26,719 shares during the period. Channing Capital Management LLC’s holdings in AbbVie were worth $5,773,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in AbbVie by 0.8% during the third quarter. Vanguard Group Inc. now owns 118,762,307 shares of the company’s stock worth $11,232,540,000 after buying an additional 912,625 shares during the period. Vanguard Group Inc grew its stake in AbbVie by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 118,762,307 shares of the company’s stock valued at $11,232,540,000 after purchasing an additional 912,625 shares in the last quarter. Capital International Investors grew its stake in AbbVie by 266.4% during the 3rd quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock valued at $2,609,902,000 after purchasing an additional 20,063,435 shares in the last quarter. Capital World Investors grew its stake in AbbVie by 74.9% during the 3rd quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock valued at $2,398,457,000 after purchasing an additional 10,858,432 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in AbbVie by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,921,433 shares of the company’s stock valued at $1,467,797,000 after purchasing an additional 41,680 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on the company. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research note on Friday, March 15th. Goldman Sachs Group assumed coverage on AbbVie in a research note on Tuesday. They set a “neutral” rating and a $84.00 price objective for the company. Barclays restated a “hold” rating and set a $86.00 price objective on shares of AbbVie in a research note on Thursday, February 14th. Zacks Investment Research lowered AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Finally, BMO Capital Markets upgraded AbbVie from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $94.26.
In related news, VP Brian L. Durkin sold 475 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now owns 9,121 shares of the company’s stock, valued at approximately $726,852.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total value of $1,248,436.91. Following the completion of the sale, the executive vice president now directly owns 93,312 shares in the company, valued at approximately $7,374,447.36. The disclosure for this sale can be found here. In the last three months, insiders sold 41,272 shares of company stock worth $3,286,290. Company insiders own 0.08% of the company’s stock.
Shares of ABBV traded up $0.03 during mid-day trading on Wednesday, hitting $78.06. The stock had a trading volume of 4,032,111 shares, compared to its average volume of 6,259,457. The firm has a market cap of $118.36 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 1.64 and a beta of 1.14. AbbVie Inc has a fifty-two week low of $75.62 and a fifty-two week high of $103.16.
AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.06 by $0.08. The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.81 billion. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.87 EPS. As a group, sell-side analysts forecast that AbbVie Inc will post 8.81 EPS for the current year.
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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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