Flputnam Investment Management Co. Acquires 10,085 Shares of AbbVie Inc. $ABBV

Flputnam Investment Management Co. grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 154,079 shares of the company’s stock after buying an additional 10,085 shares during the period. Flputnam Investment Management Co.’s holdings in AbbVie were worth $35,206,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of AbbVie by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after buying an additional 3,032,438 shares during the last quarter. Legal & General Group Plc grew its stake in shares of AbbVie by 1.1% during the fourth quarter. Legal & General Group Plc now owns 12,133,331 shares of the company’s stock valued at $2,772,345,000 after buying an additional 129,247 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of AbbVie by 457.4% during the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after buying an additional 8,646,424 shares during the last quarter. Amundi grew its stake in shares of AbbVie by 15.6% during the third quarter. Amundi now owns 10,508,317 shares of the company’s stock valued at $2,418,909,000 after buying an additional 1,414,621 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in AbbVie by 4.4% in the third quarter. Ameriprise Financial Inc. now owns 9,675,877 shares of the company’s stock worth $2,241,363,000 after purchasing an additional 408,426 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the sale, the senior vice president owned 2,654 shares in the company, valued at approximately $619,868.24. This represents a 66.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. Guggenheim reissued a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. UBS Group dropped their price objective on AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Canaccord Genuity Group increased their price objective on AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley increased their price objective on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Stock Performance

ABBV stock opened at $212.79 on Wednesday. The firm has a market cap of $375.96 billion, a price-to-earnings ratio of 104.82, a PEG ratio of 0.74 and a beta of 0.32. The firm has a 50-day simple moving average of $208.39 and a two-hundred day simple moving average of $219.70. AbbVie Inc. has a one year low of $181.73 and a one year high of $244.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 EPS. As a group, equities analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.