Abbvie Inc. Common Stock (NYSE:ABBV).
Capital Research Global Investors reports that it raised its stake in Abbvie Inc. Common Stock shares by 10,740,344 shares as of the end of the last quarter. Its investment stood at $16,795,889,000 an increase of 29.9% according to the filing.
Here are a few institutional investors who have updated their positions. As of quarter end Tiaa Cref Investment Management LLC had bought 3,093,486 shares growing its stake by 45.0%. The value in dollars went from $498,870,000 to $886,245,000 a change of 77.7% quarter over quarter. As of the end of the quarter Capital World Investors had acquired a total of 11,770,004 shares growing its holdings by 343.0%. The value of the company’s investment in Abbvie Inc. Common Stock increased from $248,782,000 to $1,350,761,000 increasing 442.9% for the reporting period.
Estabrook Capital Management cut its holdings by shedding 400 shares a decrease of 1.9% in the quarter. Estabrook Capital Management owns 20,502 shares valued at $1,821,808,000. The value of the position overall is up by 20.2%.
On October 30, 2017 SunTrust Banks maintained a “Buy” rating on the company. Equity analyst Leerink Swann lowered the price target on October 30 changing the forecast from $108.00 to $107.00 and issued a “Outperform” recommendation.
Piper Jaffray Companies raised the price target on October 27 changing the price objective from $0.00 to $115.00 and issued a “Overweight” rating. Equity analyst BMO Capital Markets issued a report on ABBV stating a rating of “Hold” and a price target of $66.00.
Jefferies Group LLC raised the price target of the stock on October 16 boosting the projection from $107.00 to $115.00 with a “Buy” recommendation. Barclays PLC raised the price target on October 13 changing the price objective from $0.00 to $90.00 with a rating of “Equal Weight”.
The company is now up by 0.33% percent from yesterday’s close. Abbvie Inc. Common Stock currently has a P/E ratio of 22.73 and market cap is 149.96B. In the latest earnings report the EPS was $4.14 with 1.60B shares now outstanding.
Short traders are feeling a little more bullish on shares of Abbvie Inc. Common Stock recently if you put credence in the change in short interest. The company recorded a fall in short interest between October 13, 2017 and October 31, 2017 of -11.06%. Short shares decreased from 14,213,032 to 12,640,762 over that period. With short interest at 12,640,762 and short average daily volume at 7,646,843, the short-interest ratio is 2.0 and the short interest percentage is 0.01% as of October 31.