Zuckerman Investment Group LLC Reduces Holdings in AbbVie Inc (ABBV)

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.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the prior year, the firm earned $1.20 EPS. The business’s revenue was up 13.9% on a year-over-year basis. equities analysts anticipate that AbbVie Inc will post 7.46 earnings per share for the current fiscal year.

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 Profile

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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