Edmp Inc. Reduces Position in AbbVie Inc (ABBV)

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Edmp Inc. lowered its holdings in shares of AbbVie Inc (NYSE:ABBV) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,371 shares of the company’s stock after selling 175 shares during the quarter. AbbVie accounts for 3.5% of Edmp Inc.’s portfolio, making the stock its 9th biggest holding. Edmp Inc.’s holdings in AbbVie were worth $3,076,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. BTIM Corp. raised its position in AbbVie by 1.1% during the 4th quarter. BTIM Corp. now owns 27,161 shares of the company’s stock valued at $2,504,000 after purchasing an additional 300 shares in the last quarter. MinichMacGregor Wealth Management LLC raised its position in AbbVie by 139.9% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 4,614 shares of the company’s stock valued at $410,000 after purchasing an additional 2,691 shares in the last quarter. Butensky & Cohen Financial Security Inc. raised its position in AbbVie by 2.5% during the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 18,504 shares of the company’s stock valued at $1,706,000 after purchasing an additional 445 shares in the last quarter. Oakbrook Investments LLC raised its position in AbbVie by 1.3% during the 4th quarter. Oakbrook Investments LLC now owns 18,882 shares of the company’s stock valued at $1,741,000 after purchasing an additional 250 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new stake in AbbVie during the 4th quarter valued at $1,393,000. Institutional investors own 70.63% of the company’s stock.

In related news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the company’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $90.00, for a total transaction of $2,250,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Henry O. Gosebruch sold 42,450 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $90.10, for a total value of $3,824,745.00. Following the transaction, the executive vice president now directly owns 30,350 shares in the company, valued at $2,734,535. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,440 shares of company stock valued at $24,029,804. Corporate insiders own 0.07% of the company’s stock.

A number of equities research analysts have weighed in on ABBV shares. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Tuesday, January 8th. SunTrust Banks decreased their target price on AbbVie from $157.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Argus decreased their target price on AbbVie from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. Standpoint Research started coverage on AbbVie in a research report on Wednesday, December 26th. They set a “buy” rating for the company. Finally, Morgan Stanley set a $88.00 target price on AbbVie and gave the company a “hold” rating in a research report on Thursday, December 20th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $96.85.

ABBV opened at $80.79 on Thursday. The firm has a market capitalization of $118.80 billion, a PE ratio of 10.21, a P/E/G ratio of 1.20 and a beta of 1.17. AbbVie Inc has a 12 month low of $75.77 and a 12 month high of $122.00.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.02). The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a negative return on equity of 1,343.27% and a net margin of 17.36%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 earnings per share. On average, research analysts anticipate that AbbVie Inc will post 8.69 earnings per share for the current year.

AbbVie declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 13th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.

Read More: Cost of Capital Explained

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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