South State Corp reduced its position in shares of AbbVie Inc (NYSE:ABBV) by 11.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,847 shares of the company’s stock after selling 1,850 shares during the quarter. South State Corp’s holdings in AbbVie were worth $1,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hudock Capital Group LLC boosted its stake in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares in the last quarter. Ffcm LLC boosted its stake in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares in the last quarter. Bristlecone Advisors LLC bought a new stake in shares of AbbVie during the 3rd quarter worth $113,000. BDO Wealth Advisors LLC bought a new stake in shares of AbbVie during the 2nd quarter worth $115,000. Finally, Hershey Trust Co. bought a new stake in shares of AbbVie during the 3rd quarter worth $139,000. 69.28% of the stock is owned by hedge funds and other institutional investors.

Shares of AbbVie Inc (NYSE ABBV) opened at $115.17 on Friday. The stock has a market capitalization of $183,860.84, a price-to-earnings ratio of 35.01, a PEG ratio of 1.09 and a beta of 1.60. AbbVie Inc has a 1-year low of $60.05 and a 1-year high of $125.86. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. The company had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. sell-side analysts expect that AbbVie Inc will post 7.46 EPS for the current fiscal year.

In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders sold 476,376 shares of company stock valued at $45,580,873 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

ABBV has been the subject of several research reports. Cowen raised AbbVie from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $91.17 to $105.00 in a research note on Wednesday, October 11th. UBS Group reissued a “neutral” rating on shares of AbbVie in a research note on Friday, October 13th. Barclays raised their price objective on AbbVie to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, October 13th. Jefferies Group raised their price objective on AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $117.26.

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About AbbVie

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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