AbbVie (ABBV) Receiving Somewhat Negative News Coverage, Report Finds

Canal Capital Management LLC reduced its position in shares of AbbVie Inc. Deerfield Management Company bought 78,027 shares as the company's stock rose 6.94% with the market. Canal Capital Management LLC's holdings in AbbVie were worth $244,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 67.89% of the company's stock.

Huff W R Asset Management Co Llc De holds 1.3% of its portfolio in Otter Tail Corporation for 36,785 shares. First Command Financial Services Inc. raised its position in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company's stock worth $102,000 after buying an additional 99 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $137,000. Atwood & Palmer Inc. now owns 2,150 shares of the company's stock worth $140,000 after buying an additional 2,000 shares during the last quarter. Thompson Siegel & Walmsley LLC now owns 52,577 shares of the company's stock valued at $3,292,000 after buying an additional 44,693 shares in the last quarter. Oppenheimer And Com holds 0.37% of its portfolio in AbbVie Inc (NYSE:ABBV) for 202,089 shares. Finally, Massmutual Trust Co.

Among 18 analysts covering Abbvie Inc (NYSE:ABBV), 7 have Buy rating, 1 Sell and 10 Hold. (ABBV) traded up 0.65% during trading on Friday, hitting $70.90. 3,248,300 shares of the company traded hands. The stock has a market cap of $112.59 billion, a PE ratio of 17.37 and a beta of 1.50. The company's 50-day moving average is $72.05 and its 200 day moving average is $66.76. The stock of AbbVie Inc (NYSE:ABBV) earned "Hold" rating by Cowen & Co on Friday, July 28. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.02. (ABBV) Q2 Earnings: "Disappointment in Store?" published on July 21, 2017 as well as Bloomberg.com's news article titled: "AbbVie Ordered to Pay $150 Million Damages in "Low-T" Trial" with publication date: "July 24, 2017. The firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period a year ago, the firm posted $1.26 earnings per share. OLD National Bancorp IN's holdings in AbbVie were valued $17,104,000 during the latest fiscal quarter.

Arizona State Retirement Systems has invested 0.37% in AbbVie Inc (NYSE:ABBV).

As of late the company also announced dividend for the quarter, expected to be paid on early Tue, Aug 15th. Investors of record on Friday, July 14th will be issued a $0.64 dividend. The firm earned "Buy" rating on Wednesday, July 22 by SunTrust. This represents a $2.56 annualized dividend and a dividend yield of 3.63%. AbbVie's dividend payout ratio is now 62.90%.

Capital Research Global Investors increased its stake in Abbvie Inc (ABBV) by 8.49% based on its latest 2016Q4 regulatory filing with the SEC. "(NYSE:ABBV)" was first posted by BNB Daily and is the property of of BNB Daily. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and worldwide trademark & copyright laws. The correct version of this article can be accessed at https://rinconhillneighbors.org/2017/08/12/abbvie-inc-nyseabbv-is-fort-point-capital-partners-llcs-6th-largest-position.html.

A number of analysts have weighed in on the stock. Piper Jaffray Companies reaffirmed a "buy" rating and set a $85.00 target price on shares of AbbVie in a research note on Thursday, August 3rd. On Wednesday, June 7 the stock rating was maintained by Credit Suisse with "Hold". Zacks trimmed stocks of AbbVie from a "hold" recommendation to a "sell" recommendation in a analysis note on Tue, Jul 4th. crowd sourced stock rating company Vetr lifted shares of AbbVie from a "buy" recommendation to a "strong-buy" recommendation and fixed a $74.38 PT for the company in a study note on early Mon, May 8th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Jefferies restated a "buy" recommendation on stocks of AbbVie in a study note published on Fri, May 26th. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the firm's stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $65.49, for a total transaction of $4,665,180.15. Following the completion of the sale, the insider now directly owns 187,625 shares in the company, valued at $13,133,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The shares were bought at an average price of $70.45 per share, for a total transaction of $281,800.00. Following the completion of the transaction, the chief executive officer now directly owns 342,353 shares in the company, valued at approximately $24,307,063. The disclosure for this sale can be found here. Over the last three months, insiders sold 600,026 shares of company stock valued at $41,852,724.

Many other hedge fund investors lately purchased and unloaded stocks of ABBV.

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Firm is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 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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