NuWave Investment Management LLC bought a new stake in shares of AbbVie Inc (NYSE:ABBV) during the 1st quarter, HoldingsChannel.com reports. The fund bought 3,277 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Oregon Public Employees Retirement Fund boosted its position in AbbVie by 4,385.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,195,586 shares of the company’s stock valued at $165,000 after acquiring an additional 14,856,786 shares in the last quarter. Norges Bank bought a new stake in AbbVie during the 4th quarter valued at $1,300,469,000. Vaughan Nelson Investment Management L.P. bought a new stake in AbbVie during the 4th quarter valued at $97,947,000. Bessemer Group Inc. boosted its position in AbbVie by 3,115.3% during the 4th quarter. Bessemer Group Inc. now owns 947,643 shares of the company’s stock valued at $87,362,000 after acquiring an additional 918,170 shares in the last quarter. Finally, Vanguard Group Inc boosted its position in AbbVie by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 118,762,307 shares of the company’s stock valued at $11,232,540,000 after acquiring an additional 912,625 shares in the last quarter. 68.33% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on ABBV shares. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research report on Friday, March 15th. Zacks Investment Research cut AbbVie from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Goldman Sachs Group started coverage on AbbVie in a research report on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 price objective for the company. BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $71.00 to $79.00 in a research report on Sunday, April 28th. Finally, Credit Suisse Group set a $78.00 price objective on AbbVie and gave the stock a “sell” rating in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $98.36.

AbbVie stock opened at $78.69 on Friday. The firm has a market capitalization of $116.33 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. AbbVie Inc has a 1-year low of $73.81 and a 1-year high of $100.23.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.08. The firm had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.81 billion. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.87 EPS. Research analysts expect that AbbVie Inc will post 8.81 earnings per share for the current fiscal year.

In related news, VP Brian L. Durkin sold 475 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $79.69, for a total value of $37,852.75. Following the completion of the transaction, the vice president now owns 9,121 shares in the company, valued at approximately $726,852.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.

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AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Read More: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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