Zuckerman Investment Group LLC lessened its stake in AbbVie Inc (NYSE:ABBV) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 75,628 shares of the company’s stock after selling 705 shares during the quarter. AbbVie makes up 1.7% of Zuckerman Investment Group LLC’s holdings, making the stock its 19th largest position. Zuckerman Investment Group LLC’s holdings in AbbVie were worth $6,720,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ABBV. Formidable Asset Management LLC increased its stake in shares of AbbVie by 0.3% during the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares during the last quarter. WealthTrust Axiom LLC increased its stake in shares of AbbVie by 0.3% during the 2nd quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after purchasing an additional 15 shares during the last quarter. St. Louis Trust Co increased its stake in shares of AbbVie by 0.7% during the 2nd quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares during the last quarter. TRUE Private Wealth Advisors increased its stake in shares of AbbVie by 0.6% during the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the last quarter. Finally, Aspen Investment Management Inc increased its stake in shares of AbbVie by 0.8% during the 2nd quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock worth $378,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 69.33% of the company’s stock.
AbbVie Inc (ABBV) opened at $113.08 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie Inc has a 12 month low of $60.40 and a 12 month high of $125.86. The stock has a market cap of $180,520.00, a price-to-earnings ratio of 27.45, a P/E/G ratio of 1.06 and a beta of 1.61.
In other AbbVie news, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total transaction of $14,072,272.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 450,743 shares of company stock valued at $43,153,684. Insiders own 0.23% of the company’s stock.
ABBV has been the topic of several analyst reports. BMO Capital Markets set a $66.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Friday, October 27th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 11th. Piper Jaffray Companies increased their price target on shares of AbbVie to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. SunTrust Banks reiterated a “buy” rating on shares of AbbVie in a research note on Monday, October 30th. Finally, Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $117.26.
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AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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