Soleus Capital Management L.P. Invests $3.72 Million in AbbVie Inc. (NYSE:ABBV)

Soleus Capital Management L.P. purchased a new position in AbbVie Inc. (NYSE:ABBVGet Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,500 shares of the company’s stock, valued at approximately $3,724,000.

Other hedge funds also recently bought and sold shares of the company. OLD Mission Capital LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at about $242,000. Camden National Bank boosted its holdings in shares of AbbVie by 2.3% in the 4th quarter. Camden National Bank now owns 10,924 shares of the company’s stock valued at $1,171,000 after buying an additional 245 shares in the last quarter. Morgan Stanley boosted its holdings in shares of AbbVie by 1.1% in the 2nd quarter. Morgan Stanley now owns 18,944,687 shares of the company’s stock valued at $2,133,931,000 after buying an additional 214,425 shares in the last quarter. Keudell Morrison Wealth Management boosted its holdings in shares of AbbVie by 5.0% in the 3rd quarter. Keudell Morrison Wealth Management now owns 30,717 shares of the company’s stock valued at $3,313,000 after buying an additional 1,469 shares in the last quarter. Finally, Center for Financial Planning Inc. boosted its holdings in shares of AbbVie by 4.1% in the 3rd quarter. Center for Financial Planning Inc. now owns 12,004 shares of the company’s stock valued at $1,295,000 after buying an additional 471 shares in the last quarter. 67.03% of the stock is currently owned by institutional investors.

In other news, VP Brian L. Durkin sold 18,628 shares of the company’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $150.01, for a total transaction of $2,794,386.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Robert A. Michael sold 43,105 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $148.25, for a total transaction of $6,390,316.25. The disclosure for this sale can be found here. In the last three months, insiders sold 568,184 shares of company stock valued at $86,426,621. 0.08% of the stock is owned by insiders.

NYSE:ABBV opened at $151.13 on Friday. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. The firm has a market cap of $267.06 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 4.26 and a beta of 0.83. The company has a 50 day moving average price of $157.53 and a 200-day moving average price of $142.56. AbbVie Inc. has a 1-year low of $105.56 and a 1-year high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings results on Friday, April 29th. The company reported $3.16 EPS for the quarter, topping the consensus estimate of $3.14 by $0.02. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.61 billion. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on ABBV. Citigroup raised their price target on shares of AbbVie from $155.00 to $170.00 in a report on Tuesday, March 1st. BMO Capital Markets lifted their target price on shares of AbbVie from $161.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. Morgan Stanley lifted their target price on shares of AbbVie from $142.00 to $192.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. Finally, Mizuho lifted their target price on shares of AbbVie from $154.00 to $166.00 and gave the stock a “buy” rating in a research note on Friday, February 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $159.75.

About AbbVie (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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