Iberiabank Corp Decreases Position in AbbVie Inc (ABBV)

Iberiabank Corp lowered its stake in AbbVie Inc (NYSE:ABBV) by 1.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 80,842 shares of the company’s stock after selling 791 shares during the period. AbbVie makes up 1.2% of Iberiabank Corp’s portfolio, making the stock its 24th largest holding. Iberiabank Corp’s holdings in AbbVie were worth $7,184,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Savant Capital LLC boosted its holdings in AbbVie by 1.3% in the 2nd quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after purchasing an additional 793 shares during the period. Princeton Capital Management Inc. bought a new stake in AbbVie in the 2nd quarter valued at about $1,394,000. Palisade Asset Management LLC boosted its holdings in AbbVie by 17.9% in the 2nd quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after purchasing an additional 10,381 shares during the period. Beaton Management Co. Inc. bought a new stake in AbbVie in the 2nd quarter valued at about $528,000. Finally, Greatmark Investment Partners Inc. boosted its holdings in AbbVie by 3.7% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock valued at $2,551,000 after purchasing an additional 1,242 shares during the period. Institutional investors and hedge funds own 69.54% of the company’s stock.

AbbVie Inc (NYSE ABBV) opened at $109.51 on Tuesday. The company has a market cap of $183,860.83, a P/E ratio of 20.60, a P/E/G ratio of 1.09 and a beta of 1.60. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc has a 52 week low of $60.05 and a 52 week high of $125.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. equities analysts expect that AbbVie Inc will post 7.46 earnings per share for the current year.

In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the transaction, the chairman now owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Severino sold 25,633 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at approximately $10,881,964.18. The disclosure for this sale can be found here. In the last three months, insiders sold 476,376 shares of company stock valued at $45,580,873. 0.23% of the stock is owned by insiders.

A number of analysts have issued reports on ABBV shares. Credit Suisse Group set a $135.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Monday, January 29th. Societe Generale boosted their price objective on shares of AbbVie in a report on Tuesday, November 21st. Leerink Swann downgraded shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price objective for the company. in a report on Monday, January 29th. BMO Capital Markets set a $84.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, January 11th. Finally, Jefferies Group upped their price target on shares of AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $117.26.

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AbbVie Profile

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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