AbbVie Inc (ABBV) Shares Bought by National Pension Service

National Pension Service increased its stake in AbbVie Inc (NYSE:ABBV) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,424,538 shares of the company’s stock after buying an additional 85,336 shares during the period. National Pension Service’s holdings in AbbVie were worth $114,704,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Prime Capital Investment Advisors LLC acquired a new position in AbbVie in the fourth quarter worth $27,000. Penserra Capital Management LLC acquired a new position in AbbVie in the fourth quarter worth $32,000. Larson Financial Group LLC acquired a new position in AbbVie in the fourth quarter worth $37,000. Horrell Capital Management Inc. acquired a new position in AbbVie in the fourth quarter worth $41,000. Finally, Capital Financial Planning LLC acquired a new position in AbbVie in the fourth quarter worth $41,000. Institutional investors and hedge funds own 69.91% of the company’s stock.

In other news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $79.03, for a total transaction of $1,248,436.91. Following the completion of the transaction, the executive vice president now owns 93,312 shares of the company’s stock, valued at $7,374,447.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Durkin sold 475 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $79.69, for a total transaction of $37,852.75. Following the transaction, the vice president now directly owns 9,121 shares of the company’s stock, valued at approximately $726,852.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,272 shares of company stock valued at $3,286,290. Corporate insiders own 0.08% of the company’s stock.

A number of research firms have commented on ABBV. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a report on Friday, March 15th. Barclays reaffirmed a “hold” rating and issued a $86.00 price objective on shares of AbbVie in a report on Thursday, February 14th. Zacks Investment Research downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a report on Friday, April 5th. BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $71.00 to $79.00 in a report on Sunday, April 28th. Finally, Credit Suisse Group set a $78.00 price objective on shares of AbbVie and gave the stock a “sell” rating in a report on Friday, April 26th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $94.95.

Shares of ABBV opened at $80.06 on Friday. AbbVie Inc has a 1 year low of $75.62 and a 1 year high of $103.16. The firm has a market cap of $118.36 billion, a PE ratio of 10.12, a PEG ratio of 1.65 and a beta of 1.14.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, April 25th. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.08. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.81 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc will post 8.83 EPS for the current year.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading: What is a good rate of return for a mutual fund?

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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