Tompkins Financial Corp increased its stake in AbbVie Inc (NYSE:ABBV) by 29.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,842 shares of the company’s stock after buying an additional 3,175 shares during the period. Tompkins Financial Corp’s holdings in AbbVie were worth $791,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in shares of AbbVie by 4.0% in the fourth quarter. State Street Corp now owns 71,273,488 shares of the company’s stock valued at $4,463,150,000 after buying an additional 2,763,770 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of AbbVie by 2.5% in the third quarter. BlackRock Fund Advisors now owns 20,582,203 shares of the company’s stock valued at $1,298,120,000 after buying an additional 509,635 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of AbbVie by 0.6% in the fourth quarter. Federated Investors Inc. PA now owns 15,058,050 shares of the company’s stock valued at $942,935,000 after buying an additional 94,872 shares during the last quarter. Norges Bank bought a new stake in shares of AbbVie during the fourth quarter valued at about $823,984,000. Finally, Glenview Capital Management LLC bought a new stake in shares of AbbVie during the fourth quarter valued at about $570,905,000. Institutional investors and hedge funds own 66.67% of the company’s stock.
Shares of AbbVie Inc (NYSE:ABBV) opened at 65.58 on Friday. AbbVie Inc has a 1-year low of $55.06 and a 1-year high of $68.12. The firm has a market cap of $104.37 billion, a P/E ratio of 17.00 and a beta of 1.57. The firm’s 50-day moving average is $65.38 and its 200-day moving average is $62.89.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, April 27th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. AbbVie had a return on equity of 141.55% and a net margin of 23.22%. The firm had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.49 billion. During the same period in the prior year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc will post $5.53 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “AbbVie Inc (ABBV) Shares Bought by Tompkins Financial Corp” was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.chaffeybreeze.com/2017/05/20/abbvie-inc-abbv-shares-bought-by-tompkins-financial-corp.html.
ABBV has been the topic of several research analyst reports. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price objective on the stock in a research note on Monday, May 8th. BMO Capital Markets set a $63.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research note on Thursday, April 27th. Societe Generale upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, March 22nd. Goldman Sachs Group Inc upgraded shares of AbbVie from a “buy” rating to a “conviction-buy” rating and raised their price objective for the stock from $74.00 to $80.00 in a research note on Saturday, March 11th. Finally, Leerink Swann set a $71.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research note on Thursday, April 20th. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.18.
In other news, EVP Carlos Alban sold 43,000 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $67.00, for a total transaction of $2,881,000.00. Following the sale, the executive vice president now directly owns 114,745 shares of the company’s stock, valued at approximately $7,687,915. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO William J. Chase sold 38,300 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $65.35, for a total value of $2,502,905.00. Following the sale, the chief financial officer now directly owns 209,043 shares in the company, valued at $13,660,960.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,899 shares of company stock worth $14,422,227. Insiders own 0.11% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
Receive News & Ratings for AbbVie Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc and related companies with MarketBeat.com's FREE daily email newsletter.