Notable Ownership Action: Abbvie Inc (NYSE:ABBV) 2016 Q2 Institutional Investor Sentiment Steady

November 24, 2016 - By Marguerite Chambers   ·   0 Comments

Notable Ownership Action: Abbvie Inc (NYSE:ABBV)  2016 Q2 Institutional Investor Sentiment Steady

Sentiment for Abbvie Inc (NYSE:ABBV)

Abbvie Inc (NYSE:ABBV) institutional sentiment increased to 1.03 in Q2 2016. Its up 0.17, from 0.86 in 2016Q1. The ratio is better, as 583 institutional investors started new or increased holdings, while 679 reduced and sold stakes in Abbvie Inc. The institutional investors in our partner’s database reported: 1.06 billion shares, down from 1.08 billion shares in 2016Q1. Also, the number of institutional investors holding Abbvie Inc in their top 10 holdings increased from 60 to 73 for an increase of 13. Sold All: 86 Reduced: 593 Increased: 508 New Position: 75.

AbbVie Inc. is a research-based biopharmaceutical company. The company has a market cap of $95.39 billion. The Firm develops and markets therapies that address a range of diseases. It has a 16.19 P/E ratio. The Firm operates in pharmaceutical products segment.

The stock increased 2.12% or $1.25 on November 23, hitting $60.18. About 5.58 million shares traded hands. AbbVie Inc (NYSE:ABBV) has declined 2.02% since April 22, 2016 and is downtrending. It has underperformed by 7.43% the S&P500.

Analysts await AbbVie Inc (NYSE:ABBV) to report earnings on February, 3. They expect $1.20 earnings per share, up 6.19% or $0.07 from last year’s $1.13 per share. ABBV’s profit will be $1.90 billion for 12.54 P/E if the $1.20 EPS becomes a reality. After $1.21 actual earnings per share reported by AbbVie Inc for the previous quarter, Wall Street now forecasts -0.83% negative EPS growth.

According to Zacks Investment Research, “AbbVie is a global, research-based biopharmaceutical company. AbbVie combines the focus and passion of a leading-edge biotech with the expertise and structure of a long-established pharmaceutical leader. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world’s most complex and serious diseases. AbbVie aims to help patients’ live healthier lives and collaborate on sustainable healthcare solutions.”

Sc Us (Ttgp) Ltd. holds 54.6% of its portfolio in AbbVie Inc for 1.44 million shares. Columbia Pacific Advisors Llc owns 374,552 shares or 14.14% of their US portfolio. Moreover, R. G. Niederhoffer Capital Management Inc has 13.66% invested in the company for 34,800 shares. The New York-based Duquesne Family Office Llc has invested 9.42% in the stock. Baker Bros. Advisors Lp, a New York-based fund reported 14.37 million shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 3 insider sales for $21.69 million net activity.

AbbVie Inc (NYSE:ABBV) Ratings Coverage

Ratings analysis reveals 41% of Abbvie Inc’s analysts are positive. Out of 17 Wall Street analysts rating Abbvie Inc, 7 give it “Buy”, 1 “Sell” rating, while 9 recommend “Hold”. The lowest target is $55 while the high is $85. The stock’s average target of $71.08 is 18.11% above today’s ($60.18) share price. ABBV was included in 29 notes of analysts from July 21, 2015. The stock of AbbVie Inc (NYSE:ABBV) earned “Buy” rating by Jefferies on Monday, December 7. SunTrust initiated it with “Buy” rating and $85 target price in Wednesday, July 22 report. Goldman Sachs downgraded AbbVie Inc (NYSE:ABBV) on Monday, March 7 to “Buy” rating. Morgan Stanley downgraded AbbVie Inc (NYSE:ABBV) rating on Wednesday, June 8. Morgan Stanley has “Equal-Weight” rating and $65 price target. The stock of AbbVie Inc (NYSE:ABBV) has “Buy” rating given on Tuesday, August 11 by TheStreet. The firm has “Neutral” rating given on Monday, October 31 by Credit Suisse. The company was initiated on Tuesday, March 15 by Deutsche Bank. JP Morgan downgraded the shares of ABBV in a report on Thursday, September 8 to “Neutral” rating. The firm earned “Outperform” rating on Friday, February 5 by William Blair. The firm has “Overweight” rating given on Monday, November 2 by Morgan Stanley.

ABBV Company Profile

AbbVie Inc. (AbbVie), incorporated on April 10, 2012, is a research biopharmaceutical company. The Firm develops and markets therapies that address a range of diseases. The Firm operates in pharmaceutical products segment. The Company’s products are focused on treating conditions, such as chronic autoimmune diseases, in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions. AbbVie also has a pipeline of new medicines, including over 50 compounds or indications in clinical development across medical specialties, such as immunology, virology/liver disease, oncology, neurological diseases and women’s health. The Company’s product portfolio includes HUMIRA, IMBRUVICA, HCV products, additional virology products, metabolics/hormones products, endocrinology products and other products.

More recent AbbVie Inc (NYSE:ABBV) news were published by: Fool.com which released: “Better Buy: AbbVie Inc. vs. GlaxoSmithKline PLC” on November 18, 2016. Also Fool.com published the news titled: “Better Buy: Merck & Co. Inc. vs. AbbVie Inc.” on October 25, 2016. Fool.com‘s news article titled: “AbbVie Inc. Q3 Results: Good but Not Good Enough” with publication date: October 28, 2016 was also an interesting one.

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By Marguerite Chambers

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