Vident Investment Advisory LLC Raises Position in AbbVie Inc. (ABBV)

Vident Investment Advisory LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 31.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,035 shares of the company’s stock after acquiring an additional 4,341 shares during the quarter. Vident Investment Advisory LLC’s holdings in AbbVie were worth $1,744,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. lifted its position in AbbVie by 1.5% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 751,230 shares of the company’s stock valued at $66,754,000 after purchasing an additional 10,838 shares during the last quarter. First National Trust Co. lifted its position in AbbVie by 0.9% during the third quarter. First National Trust Co. now owns 132,055 shares of the company’s stock valued at $11,734,000 after purchasing an additional 1,195 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new position in AbbVie during the third quarter valued at $231,000. Todd Asset Management LLC lifted its position in AbbVie by 1,543.6% during the third quarter. Todd Asset Management LLC now owns 236,420 shares of the company’s stock valued at $21,008,000 after purchasing an additional 222,036 shares during the last quarter. Finally, Advisor Group Inc. lifted its position in AbbVie by 2.8% during the third quarter. Advisor Group Inc. now owns 186,522 shares of the company’s stock valued at $16,577,000 after purchasing an additional 5,053 shares during the last quarter. Hedge funds and other institutional investors own 69.48% of the company’s stock.

Several equities analysts have commented on ABBV shares. BMO Capital Markets lowered shares of AbbVie from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Credit Suisse Group set a $98.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research report on Monday, January 22nd. SunTrust Banks increased their price objective on shares of AbbVie to $157.00 and gave the company an “average” rating in a research report on Monday, January 29th. Finally, Bank of America set a $120.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research report on Monday, March 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. AbbVie has a consensus rating of “Buy” and a consensus price target of $116.38.



In related news, CFO William J. Chase sold 70,928 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $117.18, for a total value of $8,311,343.04. Following the transaction, the chief financial officer now owns 203,391 shares of the company’s stock, valued at approximately $23,833,357.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Carlos Alban sold 83,574 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $114.49, for a total transaction of $9,568,387.26. Following the completion of the transaction, the executive vice president now directly owns 133,026 shares in the company, valued at approximately $15,230,146.74. The disclosure for this sale can be found here. Insiders sold a total of 210,205 shares of company stock worth $24,466,228 in the last ninety days. 0.07% of the stock is currently owned by insiders.

Shares of ABBV opened at $106.23 on Tuesday. AbbVie Inc. has a twelve month low of $64.80 and a twelve month high of $125.86. The firm has a market capitalization of $168.18 billion, a PE ratio of 18.97, a PEG ratio of 1.00 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 8.70.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, April 26th. The company reported $1.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.08. The company had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.60 billion. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The firm’s revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 EPS. equities research analysts predict that AbbVie Inc. will post 7.8 earnings per share for the current year.

AbbVie declared that its board has approved a stock buyback program on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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