Beddow Capital Management Inc. Sells 4,700 Shares of AbbVie Inc. $ABBV

Beddow Capital Management Inc. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 15.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,725 shares of the company’s stock after selling 4,700 shares during the quarter. AbbVie makes up about 2.2% of Beddow Capital Management Inc.’s investment portfolio, making the stock its 17th largest position. Beddow Capital Management Inc.’s holdings in AbbVie were worth $5,878,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ABBV. Vanguard Group Inc. boosted its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock valued at $41,155,601,000 after buying an additional 448,554 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of AbbVie by 17.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,044,690 shares of the company’s stock valued at $241,888,000 after purchasing an additional 151,644 shares during the last quarter. Thornburg Investment Management Inc. raised its position in AbbVie by 25.5% during the 3rd quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock worth $93,024,000 after buying an additional 81,625 shares during the last quarter. Channing Capital Management LLC raised its position in AbbVie by 10.5% during the 3rd quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock worth $12,885,000 after buying an additional 5,302 shares during the last quarter. Finally, Procyon Advisors LLC raised its position in AbbVie by 19.9% during the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after buying an additional 5,427 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABBV. Royal Bank Of Canada began coverage on shares of AbbVie in a report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 target price for the company. Guggenheim reaffirmed a “buy” rating and set a $249.00 target price on shares of AbbVie in a report on Friday, May 1st. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target for the company in a report on Thursday, April 30th. Finally, Canaccord Genuity Group boosted their price target on shares of AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Three 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Trading Down 1.9%

Shares of ABBV stock opened at $223.00 on Tuesday. The stock has a market cap of $394.00 billion, a price-to-earnings ratio of 109.85, a PEG ratio of 0.69 and a beta of 0.32. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The company’s 50-day moving average price is $210.09 and its 200-day moving average price is $219.18.

AbbVie (NYSE:ABBV) last issued its quarterly 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. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

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.