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Plus DI Higher Than Minus DI on Shares of Abbvie Inc (ABBV)

06 October 2017

Hedge funds have recently added to or reduced their stakes in the stock. Professional Advisory Services Inc. bought a new position in shares of AbbVie during the second quarter valued at $218,000. Accident Compensation Corp now owns 66,200 shares of the company's stock worth $4,314,000 after buying an additional 13,100 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in AbbVie by 87.2% in the 1st quarter. Comerica Securities raised its position in AbbVie by 832.7% through out the 1st period. Comerica Securities Inc. now owns 66,443 shares of the company's stock worth $4,329,000 after buying an additional 59,319 shares during the last quarter. AbbVie Inc (NYSE:ABBV) has risen 10.63% since October 5, 2016 and is uptrending. Lastly, Clean pay out Group raised its position in AbbVie by 25.0% through out the 1st period. Suntrust Banks has an ownership of 1,216,484 company stock worth at $79,265,000 following purchasing an extra 43,617 stocks in the previous period.

With all other things going on, AbbVie Inc.

109K shares changed hands by the end of trading on Thursday. CHASE WILLIAM J sold 38,300 shares worth $2.50M. The company has a market capitalization of $143.31 billion, a P/E ratio of 22.11 and a beta of 1.51. Bridges Investment Counsel Inc acquired 41,205 shares as Abbvie Inc (ABBV)'s stock rose 6.17%. Heritage Investors Management Corporation has 0.51% invested in AbbVie Inc (NYSE:ABBV) for 105,234 shares. AbbVie also was the recipient of unusually large options trading on Monday. Many investors look to the Relative Strength Index (RSI) reading of a particular stock to help identify overbought/oversold conditions. Trading volume was down 98.22% under the stocks average daily volume.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 28th. As of the latest earnings report the EPS was $4.07 and is estimated to be $5.52 for the current year with 1,594,094,000 shares outstanding. The company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 141.55% and a net margin of 23.22%. The firm had revenue of $6.94 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter a year ago, the business posted $1.26 earnings per share. Analysts forecast that AbbVie Inc. will post $5.52 EPS for the current fiscal year. Moreover, California Public Employees Retirement System has 0% invested in the company for 10,592 shares. This represents a $2.56 annualized dividend and a dividend yield of 2.85%. The ex-dividend date will be Wednesday July 12th, 2017.

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Evercore ISI reaffirmed their outperform recommendation on stocks of AbbVie (NYSE:ABBV) in a study note sent to clients on Saturday morning.

In related news, insider Henry O. Gosebruch sold 18,000 shares of the company's stock in a transaction on Monday, July 31st. The shares were sold at an average price of $64.25, for a total value of $4,627,028.00. Also, Chairman Richard A. Gonzalez sold 72,016 shares of the business's stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. The disclosure for this sale can be found here. Insiders have sold 379,890 shares of company stock valued at $27,187,817 in the last ninety days. Analysts monitor the topsy-turvy day-to-day movement of equities and are able to provide an unbiased assessment of the "state of the stock". Leerink Swann set a $71.00 price objective on AbbVie and gave the company a "hold" rating in a research report on Thursday, April 20th. AbbVie presently has an average rating of "Buy" and a consensus target price of $89.90. Jefferies maintained the stock with "Buy" rating in Friday, September 15 report. Jefferies maintained it with "Buy" rating and $33000 target in Monday, July 17 report. Societe Generale upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a report on Thursday, June 22nd. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock.

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Municipal Employees Retirement System of MI boosted its holdings in shares of AbbVie Inc. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products.