B. Riley Financial Inc. acquired a new position in shares of AbbVie Inc (NYSE:ABBV) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,326 shares of the company’s stock, valued at approximately $473,000.

Other large investors also recently modified their holdings of the company. Savant Capital LLC increased its stake in AbbVie by 1.3% in the 2nd quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after buying an additional 793 shares during the last quarter. Princeton Capital Management Inc. acquired a new stake in AbbVie in the 2nd quarter valued at $1,394,000. Palisade Asset Management LLC increased its stake in AbbVie by 17.9% in the 2nd quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after buying an additional 10,381 shares during the last quarter. Beaton Management Co. Inc. acquired a new stake in AbbVie in the 2nd quarter valued at $528,000. Finally, Greatmark Investment Partners Inc. increased its stake in AbbVie by 3.7% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock valued at $2,551,000 after buying an additional 1,242 shares during the last quarter. Institutional investors and hedge funds own 69.33% of the company’s stock.

Several brokerages have issued reports on ABBV. Argus lifted their price target on shares of AbbVie from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. ValuEngine upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley lifted their price target on shares of AbbVie from $99.00 to $131.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Evercore ISI reiterated a “buy” rating and issued a $144.00 price target on shares of AbbVie in a research note on Monday, January 29th. Finally, Credit Suisse Group set a $135.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and an average price target of $117.26.

AbbVie Inc (NYSE ABBV) opened at $111.86 on Wednesday. AbbVie Inc has a 12-month low of $60.15 and a 12-month high of $125.86. The company has a market cap of $178,580.00, a PE ratio of 27.15, a PEG ratio of 1.06 and a beta of 1.61. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.

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

In related news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The shares were 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 owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura J. Schumacher sold 145,510 shares of AbbVie stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The disclosure for this sale can be found here. Insiders have sold a total of 450,743 shares of company stock valued at $43,153,684 in the last ninety days. 0.23% of the stock is currently owned by insiders.

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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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