Collar Capital Management LLC Purchases 4,065 Shares of AbbVie Inc. $ABBV

Collar Capital Management LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 36.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,307 shares of the company’s stock after purchasing an additional 4,065 shares during the period. AbbVie comprises about 2.3% of Collar Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Collar Capital Management LLC’s holdings in AbbVie were worth $3,497,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares during the period. Geode Capital Management LLC grew its position in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares during the period. Norges Bank bought a new stake in AbbVie in the fourth quarter valued at $5,865,055,000. Legal & General Group Plc grew its position in AbbVie by 1.1% in the fourth quarter. Legal & General Group Plc now owns 12,133,331 shares of the company’s stock valued at $2,772,345,000 after acquiring an additional 129,247 shares during the period. Finally, Wellington Management Group LLP grew its position in AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after acquiring an additional 8,646,424 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 2.3%

Shares of ABBV opened at $212.63 on Tuesday. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81. The stock has a market cap of $375.67 billion, a P/E ratio of 104.74, a price-to-earnings-growth ratio of 0.75 and a beta of 0.32. The stock’s 50-day moving average price is $208.56 and its two-hundred day moving average price is $219.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 14.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ABBV shares. William Blair reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research report on Thursday, February 5th. UBS Group lowered their price target on AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Royal Bank Of Canada started coverage on AbbVie in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price target on the stock. Finally, Wall Street Zen upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.43.

Insider Activity at AbbVie

In related news, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the sale, the senior vice president owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

AbbVie Company 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.