UMB Bank n.a. lifted its position in AbbVie Inc. (NYSE:ABBV – Get Rating) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,189 shares of the company’s stock after buying an additional 1,446 shares during the period. UMB Bank n.a.’s holdings in AbbVie were worth $33,020,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. increased its holdings in AbbVie by 4.8% during the 3rd quarter. Centaurus Financial Inc. now owns 14,439 shares of the company’s stock worth $1,938,000 after purchasing an additional 667 shares in the last quarter. First Citizens Financial Corp increased its holdings in AbbVie by 2.3% during the 4th quarter. First Citizens Financial Corp now owns 4,505 shares of the company’s stock worth $728,000 after purchasing an additional 100 shares in the last quarter. Chesapeake Wealth Management increased its holdings in AbbVie by 21.4% during the 4th quarter. Chesapeake Wealth Management now owns 13,083 shares of the company’s stock worth $2,114,000 after purchasing an additional 2,305 shares in the last quarter. Crescent Sterling Ltd. acquired a new position in shares of AbbVie during the 4th quarter worth about $3,486,000. Finally, Lindbrook Capital LLC boosted its stake in shares of AbbVie by 9.8% during the 4th quarter. Lindbrook Capital LLC now owns 10,608 shares of the company’s stock worth $1,714,000 after buying an additional 944 shares during the last quarter. Institutional investors own 68.27% of the company’s stock.
Analyst Ratings Changes
ABBV has been the subject of a number of recent research reports. Barclays increased their price objective on shares of AbbVie from $155.00 to $160.00 in a research note on Wednesday, April 12th. Wolfe Research downgraded shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 22nd. They noted that the move was a valuation call. Morgan Stanley increased their price objective on shares of AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. Wells Fargo & Company reduced their price objective on shares of AbbVie from $200.00 to $195.00 in a research note on Friday, April 28th. Finally, Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $163.40.
AbbVie Trading Down 0.7 %
AbbVie (NYSE:ABBV – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.02. The firm had revenue of $12.23 billion during the quarter, compared to the consensus estimate of $12.23 billion. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period last year, the business posted $3.16 earnings per share. As a group, analysts predict that AbbVie Inc. will post 10.97 earnings per share for the current year.
Insider Transactions at AbbVie
In other news, EVP Perry C. Siatis sold 3,520 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $160.00, for a total transaction of $563,200.00. Following the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,660,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Elaine K. Sorg sold 15,002 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $160.03, for a total transaction of $2,400,770.06. Following the transaction, the senior vice president now directly owns 42,829 shares of the company’s stock, valued at $6,853,924.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 3,520 shares of AbbVie stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $160.00, for a total transaction of $563,200.00. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares in the company, valued at $1,660,320. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,151 shares of company stock valued at $5,187,783. 0.26% of the stock is currently owned by company insiders.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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