Fayez Sarofim & Company Raised Its Abbvieinc. (ABBV) Position by $4.26 Million; Share Value Declined

July 13, 2018 - By Michele Cranor

AbbVie Inc. (NYSE:ABBV) LogoInvestors sentiment decreased to 0.7 in Q1 2018. Its down 0.10, from 0.8 in 2017Q4. It is negative, as 61 investors sold ABBV shares while 737 reduced holdings. 127 funds opened positions while 428 raised stakes. 1.06 billion shares or 0.67% less from 1.06 billion shares in 2017Q4 were reported. Central Comml Bank And Tru accumulated 7,897 shares. North Star Investment Management holds 60,168 shares or 0.68% of its portfolio. Haverford Trust holds 0.17% or 90,557 shares. Annex Advisory Ltd Liability Company reported 44,056 shares. Economic Planning Group Inc Adv reported 2,608 shares or 0.09% of all its holdings. Lowe Brockenbrough Co invested 0.63% of its portfolio in AbbVie Inc. (NYSE:ABBV). Fukoku Mutual Life Insur Co accumulated 5,900 shares. Altfest L J And has 0.8% invested in AbbVie Inc. (NYSE:ABBV) for 19,510 shares. Michigan-based Arcadia Investment Management Mi has invested 2.64% in AbbVie Inc. (NYSE:ABBV). Dimensional Fund Advsr Lp invested in 4.67M shares or 0.18% of the stock. Stewart & Patten Co Lc accumulated 15,654 shares. Hirtle Callaghan And Co Ltd Llc, Pennsylvania-based fund reported 69 shares. Jones Collombin Inv Counsel stated it has 60 shares. Wealthtrust reported 55 shares. Franklin Street Advisors Inc Nc owns 179,564 shares.

Since February 19, 2018, it had 2 buys, and 10 sales for $26.21 million activity. Another trade for 70,928 shares valued at $8.31 million was made by CHASE WILLIAM J on Wednesday, February 28. $976,084 worth of AbbVie Inc. (NYSE:ABBV) shares were sold by GONZALEZ RICHARD A. $512,853 worth of AbbVie Inc. (NYSE:ABBV) was sold by Michael Robert A. on Wednesday, February 28. $157,458 worth of stock was sold by SALEKI-GERHARDT AZITA on Wednesday, February 28. Another trade for 83,574 shares valued at $9.57 million was sold by ALBAN CARLOS. SEVERINO MICHAEL also sold $311,684 worth of AbbVie Inc. (NYSE:ABBV) shares.

Fayez Sarofim & Company increased its stake in Abbvieinc. (ABBV) by 1.27% based on its latest 2018Q1 regulatory filing with the SEC. Fayez Sarofim & Company bought 45,297 shares as the company’s stock declined 16.83% with the market. The institutional investor held 3.62 million shares of the major pharmaceuticals company at the end of 2018Q1, valued at $342.89 million, up from 3.58 million at the end of the previous reported quarter. Fayez Sarofim & Company who had been investing in Abbvieinc. for a number of months, seems to be bullish on the $145.55 billion market cap company. The stock increased 0.54% or $0.52 during the last trading session, reaching $96.13. About 1.84 million shares traded. AbbVie Inc. (NYSE:ABBV) has risen 52.41% since July 13, 2017 and is uptrending. It has outperformed by 39.84% the S&P500.

Fayez Sarofim & Company, which manages about $31.66B and $18.46B US Long portfolio, decreased its stake in Occidentalpetroleumcorp (NYSE:OXY) by 110,966 shares to 282,892 shares, valued at $18.38 million in 2018Q1, according to the filing. It also reduced its holding in Coca (NYSE:KO) by 94,102 shares in the quarter, leaving it with 22.30M shares, and cut its stake in Rh.

More important recent AbbVie Inc. (NYSE:ABBV) news were published by: Seekingalpha.com which released: “AbbVie’s Imbruvica flunks late-stage DLBCL study; shares down 2% premarket” on July 11, 2018, also Seekingalpha.com published article titled: “Drug prices still marching upward – Bloomberg”, Seekingalpha.com published: “Premarket analyst action – healthcare” on July 12, 2018. More interesting news about AbbVie Inc. (NYSE:ABBV) was released by: Bizjournals.com and their article: “Pharma giant on hunt for half-million square feet on Peninsula” with publication date: July 13, 2018.

AbbVie Inc. (NYSE:ABBV) Ratings Coverage

Among 15 analysts covering AbbVie (NYSE:ABBV), 5 have Buy rating, 2 Sell and 8 Hold. Therefore 33% are positive. AbbVie had 28 analyst reports since January 16, 2018 according to SRatingsIntel. BMO Capital Markets maintained it with “Underperform” rating and $78 target in Wednesday, May 23 report. The firm earned “Buy” rating on Friday, April 13 by Jefferies. Argus Research maintained the shares of ABBV in report on Monday, June 11 with “Buy” rating. The stock has “Hold” rating by Piper Jaffray on Friday, June 1. The rating was maintained by Bernstein on Thursday, March 22 with “Hold”. The firm has “Underperform” rating by BMO Capital Markets given on Friday, March 23. The firm has “Equal-Weight” rating given on Thursday, April 5 by Barclays Capital. The stock of AbbVie Inc. (NYSE:ABBV) earned “Equal-Weight” rating by Morgan Stanley on Tuesday, January 30. The firm has “Buy” rating by Jefferies given on Friday, March 23. On Friday, June 22 the stock rating was maintained by Credit Suisse with “Sell”.

AbbVie Inc. (NYSE:ABBV) Ratings Chart

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