Cigna Investments Inc. New increased its holdings in AbbVie Inc (NYSE:ABBV) by 9.7% in the 1st quarter, Holdings Channel reports. The fund owned 43,001 shares of the company’s stock after buying an additional 3,816 shares during the quarter. Cigna Investments Inc. New’s holdings in AbbVie were worth $3,276,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Efficient Wealth Management LLC bought a new position in shares of AbbVie in the 1st quarter worth about $27,000. Lion Street Advisors LLC bought a new position in shares of AbbVie in the 1st quarter worth about $29,000. Altshuler Shaham Ltd increased its stake 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 acquiring an additional 353 shares in the last quarter. Solstein Capital LLC bought a new position in shares of AbbVie in the 4th quarter worth about $32,000. Finally, Americana Partners LLC bought a new stake in AbbVie during the 4th quarter valued at about $32,000. Institutional investors own 72.17% of the company’s stock.
Shares of ABBV stock traded down $0.92 during trading hours on Friday, reaching $92.10. The company had a trading volume of 5,505,076 shares, compared to its average volume of 13,435,240. The firm has a market cap of $137.37 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.97 and a beta of 0.82. The business has a fifty day moving average price of $83.08 and a 200-day moving average price of $85.44. AbbVie Inc has a one year low of $62.55 and a one year high of $97.86.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.31 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share. 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 3,750 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average price of $68.82 per share, with a total value of $258,075.00. Following the completion of the acquisition, the vice president now owns 15,294 shares in the company, valued at approximately $1,052,533.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 19,445 shares of AbbVie stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $1,652,825.00. The disclosure for this sale can be found here. In the last three months, insiders purchased 8,825 shares of company stock worth $671,852. 0.09% of the stock is currently owned by insiders.
A number of analysts have weighed in on ABBV shares. Bank of America started coverage on shares of AbbVie in a research note on Monday, May 18th. They set a “neutral” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price objective for the company in a research note on Tuesday, May 12th. UBS Group reduced their price objective on shares of AbbVie from $106.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Societe Generale lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Mizuho restated a “buy” rating and set a $100.00 price objective on shares of AbbVie in a research note on Friday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $98.23.
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.
Recommended Story: How can you know how many shares are floating?
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.