Abbvie INC (ABBV) Valuation Rose While Ferguson Wellman Capital Management INC Decreased Its Holding

February 24, 2018 - By Adrian Erickson

Investors sentiment decreased to 0.85 in Q3 2017. Its down 0.15, from 1 in 2017Q2. It dropped, as 55 investors sold ABBV shares while 640 reduced holdings. 132 funds opened positions while 462 raised stakes. 1.06 billion shares or 1.89% more from 1.04 billion shares in 2017Q2 were reported. Symphony Asset Mngmt invested in 18,149 shares. Moreover, Chicago Equity Prns Limited Liability Corp has 0.04% invested in AbbVie Inc. (NYSE:ABBV). Ontario – Canada-based Breton Hill Capital Limited has invested 2.49% in AbbVie Inc. (NYSE:ABBV). International Grp Inc Inc accumulated 7.74M shares. Halsey Assocs Ct holds 0.27% or 15,256 shares. Bankshares Of Mellon Corp reported 0.41% stake. Leuthold Gp Ltd Limited Liability Company holds 0.82% or 91,178 shares in its portfolio. Asset Management has invested 0.79% in AbbVie Inc. (NYSE:ABBV). Marco Inv Mgmt Limited Co invested in 2.05% or 146,949 shares. Prtn Lc has 2,492 shares for 0.04% of their portfolio. Kbc Gru Nv stated it has 1.33M shares or 1.07% of all its holdings. Pinebridge Invs LP stated it has 0.09% of its portfolio in AbbVie Inc. (NYSE:ABBV). Denver Inv Advsr Ltd Liability holds 0.42% or 97,043 shares. Boston Private Wealth Ltd Llc reported 1.51% in AbbVie Inc. (NYSE:ABBV). Fundx Investment Group Limited Liability, California-based fund reported 19,000 shares.

Since September 11, 2017, it had 0 insider purchases, and 6 insider sales for $25.71 million activity. Schumacher Laura J sold $14.07 million worth of stock. 18,300 AbbVie Inc. (NYSE:ABBV) shares with value of $1.66M were sold by Gosebruch Henry O. Michael Robert A. sold $119,351 worth of stock. Shares for $8.57 million were sold by RICHMOND TIMOTHY J. on Monday, December 18.

Ferguson Wellman Capital Management Inc decreased its stake in Abbvie Inc (ABBV) by 7.33% based on its latest 2017Q3 regulatory filing with the SEC. Ferguson Wellman Capital Management Inc sold 55,132 shares as the company’s stock rose 6.17% with the market. The institutional investor held 696,618 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $61.90M, down from 751,750 at the end of the previous reported quarter. Ferguson Wellman Capital Management Inc who had been investing in Abbvie Inc for a number of months, seems to be less bullish one the $188.57 billion market cap company. The stock increased 1.01% or $1.19 during the last trading session, reaching $118.75. About 4.69 million shares traded. AbbVie Inc. (NYSE:ABBV) has risen 10.63% since February 24, 2017 and is uptrending. It has underperformed by 6.07% the S&P500.

Ferguson Wellman Capital Management Inc, which manages about $3.83 billion and $2.77 billion US Long portfolio, upped its stake in United Parcel Service Cl B (NYSE:UPS) by 154,098 shares to 315,563 shares, valued at $37.90M in 2017Q3, according to the filing. It also increased its holding in Merck (NYSE:MRK) by 51,563 shares in the quarter, for a total of 1.24M shares, and has risen its stake in Pentair Inc (NYSE:PNR).

Analysts await AbbVie Inc. (NYSE:ABBV) to report earnings on April, 26. They expect $1.78 EPS, up 39.06 % or $0.50 from last year’s $1.28 per share. ABBV’s profit will be $2.83 billion for 16.68 P/E if the $1.78 EPS becomes a reality. After $1.48 actual EPS reported by AbbVie Inc. for the previous quarter, Wall Street now forecasts 20.27 % EPS growth.

More notable recent AbbVie Inc. (NYSE:ABBV) news were published by: Seekingalpha.com which released: “AbbVie’s elagolix successful in late-stage uterine fibroid study” on February 21, 2018, also Seekingalpha.com with their article: “AbbVie’s Bright Future” published on January 30, 2018, Seekingalpha.com published: “Don’t Miss Out, Act Now On AbbVie” on February 05, 2018. More interesting news about AbbVie Inc. (NYSE:ABBV) were released by: Fool.com and their article: “Did AbbVie, Inc. Just Become the Most Shareholder-Friendly Stock in America?” published on February 16, 2018 as well as Seekingalpha.com‘s news article titled: “AbbVie: Time To Trim Our Position?” with publication date: February 12, 2018.

AbbVie Inc. (NYSE:ABBV) Ratings Coverage

Among 21 analysts covering Abbvie Inc (NYSE:ABBV), 10 have Buy rating, 2 Sell and 9 Hold. Therefore 48% are positive. Abbvie Inc had 78 analyst reports since July 21, 2015 according to SRatingsIntel. Goldman Sachs downgraded AbbVie Inc. (NYSE:ABBV) rating on Monday, March 7. Goldman Sachs has “Buy” rating and $68 target. As per Wednesday, June 7, the company rating was maintained by BMO Capital Markets. On Wednesday, June 7 the stock rating was maintained by Credit Suisse with “Hold”. The firm has “Hold” rating given on Thursday, September 28 by Deutsche Bank. The firm earned “Neutral” rating on Friday, October 13 by UBS. Argus Research maintained the shares of ABBV in report on Friday, February 2 with “Buy” rating. The stock of AbbVie Inc. (NYSE:ABBV) has “Hold” rating given on Wednesday, October 11 by BMO Capital Markets. The firm has “Hold” rating by BMO Capital Markets given on Wednesday, April 19. The firm earned “Outperform” rating on Friday, February 5 by William Blair. Jefferies maintained it with “Buy” rating and $9400 target in Friday, July 14 report.

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