Sun Life Financial INC boosted its stake in shares of AbbVie Inc (NYSE:ABBV) by 9.9% during the third quarter, HoldingsChannel.com reports. The firm owned 16,360 shares of the company’s stock after acquiring an additional 1,469 shares during the period. Sun Life Financial INC’s holdings in AbbVie were worth $1,454,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Savant Capital LLC increased its position in shares of AbbVie by 1.3% in the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after acquiring an additional 793 shares in the last quarter. Princeton Capital Management Inc. acquired a new stake in shares of AbbVie in the second quarter worth $1,394,000. Palisade Asset Management LLC increased its position in shares of AbbVie by 17.9% in the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after acquiring an additional 10,381 shares in the last quarter. Beaton Management Co. Inc. acquired a new stake in shares of AbbVie in the second quarter worth $528,000. Finally, Greatmark Investment Partners Inc. increased its position in shares of AbbVie by 3.7% in the second quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock worth $2,551,000 after acquiring an additional 1,242 shares in the last quarter. 69.54% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on ABBV shares. UBS Group reissued a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Barclays increased their price objective on shares of AbbVie to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. Jefferies Group increased their price objective on shares of AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Tuesday, October 17th. Finally, BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $117.26.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. equities analysts anticipate that AbbVie Inc will post 7.46 earnings per share for the current year.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the transaction, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Laura J. Schumacher sold 145,510 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 450,743 shares of company stock valued at $43,153,684. 0.23% of the stock is owned by company insiders.
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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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