AbbVie Inc. $ABBV Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 14.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,756 shares of the company’s stock after selling 5,623 shares during the period. Transcend Capital Advisors LLC’s holdings in AbbVie were worth $7,584,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ellenbecker Investment Group lifted its stake in AbbVie by 0.8% during the third quarter. Ellenbecker Investment Group now owns 5,334 shares of the company’s stock worth $1,235,000 after purchasing an additional 44 shares during the last quarter. Security National Bank of Sioux City Iowa IA raised its holdings in shares of AbbVie by 0.3% during the third quarter. Security National Bank of Sioux City Iowa IA now owns 15,382 shares of the company’s stock worth $3,562,000 after purchasing an additional 45 shares during the period. Matthew Goff Investment Advisor LLC raised its holdings in shares of AbbVie by 0.3% during the third quarter. Matthew Goff Investment Advisor LLC now owns 17,561 shares of the company’s stock worth $4,066,000 after purchasing an additional 45 shares during the period. Centennial Wealth Advisory LLC lifted its position in shares of AbbVie by 2.2% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 2,089 shares of the company’s stock worth $484,000 after buying an additional 45 shares during the last quarter. Finally, Willner & Heller LLC boosted its holdings in shares of AbbVie by 0.6% in the 3rd quarter. Willner & Heller LLC now owns 7,596 shares of the company’s stock valued at $1,759,000 after buying an additional 46 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABBV. Hsbc Global Res upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. Citigroup dropped their price target on AbbVie from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 27th. JPMorgan Chase & Co. raised their price target on AbbVie from $250.00 to $260.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Morgan Stanley increased their target price on AbbVie from $261.00 to $269.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.37.

AbbVie Price Performance

ABBV opened at $223.02 on Friday. The stock’s 50 day moving average price is $224.40 and its 200 day moving average price is $218.46. The stock has a market cap of $394.15 billion, a P/E ratio of 168.95, a P/E/G ratio of 0.91 and a beta of 0.36. AbbVie Inc. has a 12 month low of $164.39 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.09. The company had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.00 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.