The BlackRock Group LTD Cuts Stake in AbbVie Inc. (ABBV)

Marco Green
November 14, 2017

The hedge fund held 535,967 shares of the technology company at the end of 2017Q2, valued at $3.24 million, up from 329,600 at the end of the previous reported quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company's stock worth $148,000 after purchasing an additional 1,057 shares in the last quarter.

AbbVie Inc. (ABBV) stock price rose 49.11 percent over the past one year, while increased 44.46 percent during the past 6 months. It has underperformed by 6.07% the S&P500. Provident Trust reported 15,978 shares stake. Over the last three months, the shares of the company have changed 34.75% and performed 43.14% over the last six months.

Glenview Capital Management Llc increased Vereit Inc stake by 1.00 million shares to 17.95M valued at $146.08M in 2017Q2.

Other institutional investors also recently added to or reduced their stakes in the company. When we divide the last trade volume by the 3-month average volume, we found out a relative volume of 0.92. Infinity Pharmaceuticals Inc. (INFI) has declined 60.96% since November 14, 2016 and is downtrending. It has underperformed by 6.07% the S&P500. Therefore 57% are positive. AbbVie Inc (NYSE:ABBV) has risen 10.63% since November 14, 2016 and is uptrending. AbbVie has a consensus rating of "Buy" and an average target price of $93.68. They set an "outperform" rating and a $95.00 price objective on the stock. The mean rating score for this stock is at 2.00. Citigroup upgraded it to "Buy" rating and $65 target in Tuesday, February 23 report. Needham maintained Dermira Inc (NASDAQ:DERM) on Friday, September 15 with "Buy" rating. BMO Capital Markets released research on ABBV with a rating of "Hold" and price target of $66.00. The stock has "Buy" rating by Jefferies on Monday, December 7. Princeton Capital owns 19,246 shares for 0.88% of their portfolio. HOOVER R DAVID had sold 22,000 shares worth $874,503 on Thursday, May 18. About 46,386 shares traded. The stock saw a fall in short interest between October 13, 2017 and October 31, 2017 of -11.06%.

Investors sentiment decreased to 1.39 in Q2 2017. 20 funds opened positions while 48 raised stakes. 585.36 million shares or 303.31% more from 145.14 million shares in 2017Q1 were reported. 38,300 shares were sold by CHASE WILLIAM J, worth $2.50M on Thursday, May 18. Wetherby Asset Management Inc has invested 0.04% in Ball Corporation (NYSE:BLL). West Oak Cap Ltd Liability Com reported 14,724 shares or 0% of all its holdings. Joel Isaacson And Ltd Co reported 3,926 shares. Centurylink Invest Mgmt Company invested 0.27% of its portfolio in AbbVie Inc (NYSE:ABBV). Credit Suisse Ag accumulated 16,445 shares. Quantbot LP stated it has 5,837 shares. Conning reported 53,134 shares. First Natl Bank Of Omaha owns 0.08% invested in AbbVie Inc (NYSE:ABBV) for 18,388 shares. The stock of AbbVie Inc (NYSE:ABBV) earned "Mkt Perform" rating by Leerink Swann on Tuesday, October 18. "Buys DowDuPont Inc, Red Hat Inc, AbbVie ..." on November 02, 2017. Aviva Plc has invested 0.46% of its portfolio in AbbVie Inc (NYSE:ABBV).

Investors sentiment increased to 1 in 2017 Q2. Its up 0.01, from 0.99 in 2017Q1. This gauge is crucial in determining whether investors are moved toward the direction of buying more of the stock, or else doing the contradictory side and selling more of the stock. Ameritas Investment Prtnrs holds 3,345 shares or 0% of its portfolio. Mcf Advisors Limited Liability Company holds 200 shares. Sumitomo Mitsui holds 4.57M shares or 0.49% of its portfolio. Checchi Cap Advisers Lc, California-based fund reported 16,219 shares. Pekin Singer Strauss Asset Il reported 0.6% of its portfolio in AbbVie Inc (NYSE:ABBV). A longer-term moving average may be used to identify the primary price trend, a shorter moving average period to identify the secondary, price trend, and an even shorter moving average period to identify the minor price trend. 26,774 are held by National Asset Management. Chicago Equity Ltd holds 0% or 14,365 shares. 1,530 were reported by Point72 Asia (Hong Kong) Ltd. Invesco Ltd invested in 30,416 shares or 0% of the stock.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. Urban Edge Properties (UE) has $2.79B valuation. After $1.41 actual EPS reported by AbbVie Inc for the previous quarter, Wall Street now forecasts 1.42% EPS growth.

Also, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction dated Monday, October 30th. 71,235 shares were sold by GONZALEZ RICHARD A, worth $4.67M. The value of the position overall is up by 11.0%. Therefore 52% are positive. The company's revenue was up 8.8% compared to the same quarter last year. analysts expect that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year. As per Thursday, September 7, the company rating was maintained by Mizuho. Also, EVP Michael Severino sold 25,633 shares of the company's stock in a transaction that occurred on Friday, November 10th. As per Sunday, October 29, the company rating was maintained by SunTrust. The company was maintained on Monday, June 26 by Jefferies.

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