Collar Capital Management LLC Acquires 4,065 Shares of AbbVie Inc. $ABBV

Collar Capital Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 36.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,307 shares of the company’s stock after purchasing an additional 4,065 shares during the quarter. AbbVie comprises approximately 2.3% of Collar Capital Management LLC’s holdings, making the stock its 13th biggest position. Collar Capital Management LLC’s holdings in AbbVie were worth $3,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chelsea Counsel Co. bought a new position in shares of AbbVie during the 3rd quarter worth approximately $26,000. Westend Capital Management LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $29,000. Texas Capital Bancshares Inc TX bought a new position in shares of AbbVie during the 3rd quarter worth approximately $31,000. Legacy Wealth Managment LLC ID boosted its stake in shares of AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares during the period. Finally, WestEnd Advisors LLC boosted its stake in shares of AbbVie by 160.4% during the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after acquiring an additional 85 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

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

AbbVie Stock Performance

NYSE ABBV opened at $212.63 on Tuesday. The firm’s fifty day moving average price is $208.56 and its two-hundred day moving average price is $219.58. The stock has a market cap of $375.67 billion, a PE ratio of 104.74, a PEG ratio of 0.75 and a beta of 0.32. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81.

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. UBS Group reduced their price target on AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Royal Bank Of Canada initiated coverage on AbbVie in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price target for the company. Barclays initiated coverage on AbbVie in a research note on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target for the company. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Evercore set a $235.00 price target on AbbVie in a research note on Friday, May 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $253.43.

AbbVie 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.