Dynamic Advisor Solutions LLC trimmed its stake in AbbVie Inc (NYSE:ABBV) by 34.0% during the 1st quarter, Holdings Channel reports. The firm owned 23,377 shares of the company’s stock after selling 12,063 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in AbbVie were worth $1,884,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Van Leeuwen & Company LLC grew its position in AbbVie by 4.1% during the fourth quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock valued at $304,000 after acquiring an additional 130 shares during the last quarter. Integrated Investment Consultants LLC grew its position in AbbVie by 1.0% during the fourth quarter. Integrated Investment Consultants LLC now owns 12,662 shares of the company’s stock valued at $1,168,000 after acquiring an additional 131 shares during the last quarter. NewSquare Capital LLC grew its position in AbbVie by 0.7% during the fourth quarter. NewSquare Capital LLC now owns 19,562 shares of the company’s stock valued at $1,803,000 after acquiring an additional 137 shares during the last quarter. D.B. Root & Company LLC grew its position in AbbVie by 1.4% during the fourth quarter. D.B. Root & Company LLC now owns 10,516 shares of the company’s stock valued at $969,000 after acquiring an additional 146 shares during the last quarter. Finally, Benin Management CORP grew its position in AbbVie by 2.6% during the fourth quarter. Benin Management CORP now owns 6,000 shares of the company’s stock valued at $553,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 68.33% of the company’s stock.
In related news, VP Brian L. Durkin sold 475 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now owns 9,121 shares of the company’s stock, valued at $726,852.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.
A number of analysts have recently weighed in on ABBV shares. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research note on Friday, March 15th. Zacks Investment Research lowered AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Barclays reissued a “hold” rating and set a $86.00 price objective on shares of AbbVie in a research note on Thursday, February 14th. Goldman Sachs Group started coverage on AbbVie in a research note on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price objective for the company. Finally, BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $98.36.
NYSE:ABBV opened at $78.57 on Thursday. The company has a market cap of $115.56 billion, a PE ratio of 9.56, a P/E/G ratio of 1.60 and a beta of 1.10. AbbVie Inc has a fifty-two week low of $73.81 and a fifty-two week high of $100.23.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.08. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.81 billion. During the same quarter last year, the firm posted $1.87 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. 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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