Chatham Capital Group Inc. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 13.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,215 shares of the company’s stock after selling 13,041 shares during the period. AbbVie accounts for about 1.6% of Chatham Capital Group Inc.’s holdings, making the stock its 18th largest position. Chatham Capital Group Inc.’s holdings in AbbVie were worth $5,185,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of ABBV. Capital Research Global Investors increased its stake in shares of AbbVie by 100.6% in the second quarter. Capital Research Global Investors now owns 152,718,713 shares of the company’s stock valued at $9,439,710,000 after buying an additional 76,593,054 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of AbbVie by 18.9% in the second quarter. Nisa Investment Advisors LLC now owns 631,940 shares of the company’s stock valued at $39,123,000 after buying an additional 100,674 shares during the last quarter. RNC Capital Management LLC boosted its position in shares of AbbVie by 1.2% in the second quarter. RNC Capital Management LLC now owns 620,340 shares of the company’s stock valued at $38,405,000 after buying an additional 7,057 shares during the last quarter. Atalanta Sosnoff Capital LLC purchased a new position in shares of AbbVie during the second quarter valued at about $20,759,000. Finally, Alps Advisors Inc. boosted its position in shares of AbbVie by 14.6% in the second quarter. Alps Advisors Inc. now owns 443,246 shares of the company’s stock valued at $27,441,000 after buying an additional 56,506 shares during the last quarter. 67.43% of the stock is currently owned by institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 2.07% during mid-day trading on Friday, hitting $60.00. The stock had a trading volume of 14,151,233 shares. AbbVie Inc. has a 52-week low of $51.60 and a 52-week high of $68.12. The stock has a 50 day moving average price of $62.05 and a 200-day moving average price of $62.77. The company has a market cap of $97.51 billion, a PE ratio of 16.53 and a beta of 1.58.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 27th. The company reported $1.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.20. The business earned $6.78 billion during the quarter, compared to the consensus estimate of $6.92 billion. AbbVie had a return on equity of 150.77% and a net margin of 24.08%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. On average, equities analysts expect that AbbVie Inc. will post $4.82 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on ABBV. Jefferies Group LLC restated a “buy” rating and issued a $90.00 price objective on shares of AbbVie in a research note on Wednesday, October 5th. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.85 price objective for the company. in a research note on Wednesday, November 9th. William Blair restated an “outperform” rating and issued a $76.00 price objective on shares of AbbVie in a research note on Thursday, December 8th. Finally, Citigroup Inc. cut AbbVie from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research note on Monday, November 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $70.25.
In other news, CFO William J. Chase sold 6,600 shares of the stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $59.19, for a total transaction of $390,654.00. Following the completion of the transaction, the chief financial officer now directly owns 178,970 shares of the company’s stock, valued at approximately $10,593,234.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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