Carret Asset Management Holding in Abbvie (ABBV) Has Cut as Stock Declined; Wells Fargo & Co (WFC) Stock Declined While Qv Investors Trimmed Position by $9.14 Million

August 12, 2018 - By Pearl Odom

AbbVie Inc. (NYSE:ABBV) Logo

Carret Asset Management Llc decreased its stake in Abbvie Inc (ABBV) by 4.5% based on its latest 2018Q1 regulatory filing with the SEC. Carret Asset Management Llc sold 3,283 shares as the company’s stock declined 16.83% with the market. The institutional investor held 69,731 shares of the major pharmaceuticals company at the end of 2018Q1, valued at $6.60M, down from 73,014 at the end of the previous reported quarter. Carret Asset Management Llc who had been investing in Abbvie Inc for a number of months, seems to be less bullish one the $145.07B market cap company. The stock increased 0.35% or $0.33 during the last trading session, reaching $95.8. About 4.45M shares traded. AbbVie Inc. (NYSE:ABBV) has risen 52.41% since August 12, 2017 and is uptrending. It has outperformed by 39.84% the S&P500. Some Historical ABBV News: 08/05/2018 – J&J’s Janssen: FDA Approval Marks the Fifth Indication for Darzalex, Which Is the First CD38-Directed Antibody to Be Approved Anywhere; 26/04/2018 – AbbVie 1Q Net $2.78B; 15/05/2018 – STAT Plus: Pharmalittle: J&J and AbbVie roll back price hike after criticism; FDA to call out companies that thwart generics; 08/05/2018 – OncoSec Expands Relationship with Merck, Announces Clinical Collaboration to Evaluate Combination of lmmunoPulse┬« IL-12 and KEYTRUDA┬« (pembrolizumab) for Triple Negative Breast Cancer; 15/04/2018 – Merck: Safety Profile of Keytruda Consistent With Previous Trials of Patients With Advanced Melanoma; 22/03/2018 – AbbVie in $22bn wipeout after cancer drug results; 11/04/2018 – MYLAN, BIOCON SEEK TO ACCELERATE INTRODUCTION OF ADALIMUMAB BIOSIMILAR IN EU; 25/04/2018 – AbbVie Submits Biologics License Application To U.S. FDA For Investigational Treatment Risankizumab For Moderate To Severe Plaque Psoriasis; 10/04/2018 – Oncolytics Biotech: Combination Therapy With REOLYSIN(R), Keytruda(R) and/or anti-CD73 Immunotherapy Led to Rejection of Pre-Established Tumors; 23/03/2018 – INNATE PHARMA SA – PARTNER MEDIMMUNE EXPANDS COLORECTAL CANCER PATIENT COHORT IN ONGOING PHASE l TRIAL EVALUATING MONALIZUMAB IN COMBINATION WITH IMFINZI┬« (DURVALUMAB)

Qv Investors Inc decreased its stake in Wells Fargo & Co (WFC) by 11.02% based on its latest 2018Q1 regulatory filing with the SEC. Qv Investors Inc sold 175,710 shares as the company’s stock declined 8.45% with the market. The institutional investor held 1.42 million shares of the major banks company at the end of 2018Q1, valued at $74.34 million, down from 1.59 million at the end of the previous reported quarter. Qv Investors Inc who had been investing in Wells Fargo & Co for a number of months, seems to be less bullish one the $279.58 billion market cap company. The stock decreased 0.67% or $0.39 during the last trading session, reaching $58.05. About 16.17M shares traded. Wells Fargo & Company (NYSE:WFC) has risen 4.02% since August 12, 2017 and is uptrending. It has underperformed by 8.55% the S&P500. Some Historical WFC News: 24/04/2018 – WELLS FARGO MANAGEMENT PROPOSALS ALL APPROVED; 05/05/2018 – MUNGER SAYS THE CONDITIONS IN STEEL WERE ADVERSE TO U.S. INDUSTRY; SAYS EVEN U.S. PRESIDENT DONALD TRUMP CAN BE RIGHT ON SOME THINGS; 10/05/2018 – WELLS FARGO `THROUGH MOST’ OF HISTORICAL BUSINESS REVIEW: SLOAN; 09/04/2018 – Yahoo! UK: Exclusive – U.S. watchdog seeks record fine against Wells Fargo for abuses; 15/03/2018 – Wells Fargo and LISC Join Forces to Fuel Economic Opportunity; 05/04/2018 – WELLS FARGO SALES PUSH EXTENDED TO WEALTH UNIT, EX-WORKERS SAY; 26/04/2018 – Brink’s Presenting at Wells Fargo Industrials Conference May 9; 13/04/2018 – Wells Fargo 1Q Net Interest Income $9.7B; 17/05/2018 – Wells Fargo Discovered Document Altering and Reported It to OCC; 10/05/2018 – Wells Fargo CEO Says Bank Having “Constructive Dialogue” With Fed on Recently Submitted Plans

Qv Investors Inc, which manages about $1.15 billion US Long portfolio, upped its stake in Macy’s Inc (NYSE:M) by 14,900 shares to 1.83 million shares, valued at $54.44 million in 2018Q1, according to the filing. It also increased its holding in National Oilwell Varco Inc (NYSE:NOV) by 9,200 shares in the quarter, for a total of 837,387 shares, and has risen its stake in Berkshire Hathaway Inc (BRKB).

Since May 24, 2018, it had 0 insider purchases, and 1 insider sale for $1.40 million activity.

Analysts await Wells Fargo & Company (NYSE:WFC) to report earnings on October, 12. They expect $1.17 earnings per share, up 12.50% or $0.13 from last year’s $1.04 per share. WFC’s profit will be $5.63B for 12.40 P/E if the $1.17 EPS becomes a reality. After $1.08 actual earnings per share reported by Wells Fargo & Company for the previous quarter, Wall Street now forecasts 8.33% EPS growth.

Among 39 analysts covering Wells Fargo & Company (NYSE:WFC), 18 have Buy rating, 7 Sell and 14 Hold. Therefore 46% are positive. Wells Fargo & Company had 153 analyst reports since July 29, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Wednesday, April 12 by Evercore. The firm has “Hold” rating by Piper Jaffray given on Friday, October 13. JP Morgan downgraded the shares of WFC in report on Wednesday, September 21 to “Neutral” rating. The firm earned “Outperform” rating on Tuesday, January 12 by Keefe Bruyette & Woods. The firm has “Buy” rating given on Monday, April 30 by Keefe Bruyette & Woods. On Monday, April 16 the stock rating was maintained by Morgan Stanley with “Underweight”. Robert W. Baird maintained it with “Buy” rating and $65.0 target in Tuesday, January 2 report. BMO Capital Markets maintained the shares of WFC in report on Friday, October 6 with “Hold” rating. The firm has “Underperform” rating by BMO Capital Markets given on Friday, November 18. On Thursday, March 24 the stock rating was initiated by UBS with “Sell”.

Investors sentiment decreased to 0.59 in Q1 2018. Its down 0.16, from 0.75 in 2017Q4. It dived, as 108 investors sold WFC shares while 790 reduced holdings. 122 funds opened positions while 412 raised stakes. 3.62 billion shares or 0.62% less from 3.64 billion shares in 2017Q4 were reported. Pacifica Investments has invested 0.35% in Wells Fargo & Company (NYSE:WFC). Beach Inv Counsel Pa stated it has 0.09% of its portfolio in Wells Fargo & Company (NYSE:WFC). 17,150 were accumulated by Aspen Investment Mgmt. Aspiriant Lc holds 49,778 shares or 0.23% of its portfolio. Gemmer Asset Mgmt Limited Liability stated it has 3,475 shares. Investec Asset Mgmt holds 0.03% in Wells Fargo & Company (NYSE:WFC) or 100,861 shares. 182,921 are owned by Livforsakringsbolaget Skandia Omsesidigt. Moreover, Fort Point Cap Prtnrs Ltd has 0.23% invested in Wells Fargo & Company (NYSE:WFC). Stewart West Indies Trading Ltd has invested 5.6% in Wells Fargo & Company (NYSE:WFC). Trexquant Invest Lp stated it has 114,597 shares or 0.42% of all its holdings. Renaissance Technology Ltd Limited Liability Company reported 0.19% in Wells Fargo & Company (NYSE:WFC). Private Wealth Ptnrs Limited Co holds 0.05% or 5,986 shares in its portfolio. Firefly Value LP owns 1.11 million shares for 5.21% of their portfolio. Franklin Street Advsr Nc holds 0.18% or 23,492 shares. First Allied Advisory Service holds 71,811 shares or 0.14% of its portfolio.

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Finance.Yahoo.com which released: “3 Big Stock Charts for Monday: Wells Fargo, Philip Morris and Gilead Sciences” on July 23, 2018, also Bizjournals.com with their article: “Beleaguered Wells Fargo hit with $2 billion fine over mortgages” published on August 01, 2018, Benzinga.com published: “KBW Upgrades Wells Fargo Despite Q2 Miss, Says Valuation ‘Compelling'” on July 16, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Seekingalpha.com and their article: “Wells Fargo: Should We Start Building Longs?” published on August 09, 2018 as well as Seekingalpha.com‘s news article titled: “Wells Fargo: Dividend Yield And Share Buyback Program Make It A Buy” with publication date: July 18, 2018.

Investors sentiment decreased to 0.7 in Q1 2018. Its down 0.10, from 0.8 in 2017Q4. It turned 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. Blue Chip Prns owns 101,265 shares for 2.65% of their portfolio. Epoch Investment Partners reported 0.83% stake. Laurion Mgmt LP reported 362,072 shares or 0.28% of all its holdings. Centre Asset Mgmt Ltd Liability Com owns 59,190 shares for 1.29% of their portfolio. Summit Securities Group Limited Liability Company reported 2,300 shares or 0.05% of all its holdings. Winslow Management Lc reported 0% of its portfolio in AbbVie Inc. (NYSE:ABBV). Oarsman Cap accumulated 1.86% or 43,151 shares. Northstar owns 9,998 shares. Gsa Cap Ptnrs Llp reported 57,008 shares or 0.29% of all its holdings. Old Mutual Global Investors (Uk) stated it has 100,214 shares. Moreover, Loudon Invest has 2.12% invested in AbbVie Inc. (NYSE:ABBV). Griffin Asset reported 124,794 shares. Valmark Advisers holds 0.01% or 2,671 shares. Moreover, Roberts Glore And Il has 1.49% invested in AbbVie Inc. (NYSE:ABBV). Pillar Pacific Management Limited Liability Corporation reported 15,974 shares stake.

Since February 19, 2018, it had 2 insider buys, and 10 insider sales for $26.21 million activity. $8.31M worth of AbbVie Inc. (NYSE:ABBV) was sold by CHASE WILLIAM J. Another trade for 4,294 shares valued at $512,853 was sold by Michael Robert A.. Schumacher Laura J also sold $2.95 million worth of AbbVie Inc. (NYSE:ABBV) on Wednesday, February 28. $976,084 worth of AbbVie Inc. (NYSE:ABBV) was sold by GONZALEZ RICHARD A on Wednesday, February 28. SEVERINO MICHAEL sold $311,684 worth of stock or 2,643 shares. On Wednesday, February 28 the insider SALEKI-GERHARDT AZITA sold $157,458.

Analysts await AbbVie Inc. (NYSE:ABBV) to report earnings on October, 26. They expect $2.01 EPS, up 42.55% or $0.60 from last year’s $1.41 per share. ABBV’s profit will be $3.04B for 11.92 P/E if the $2.01 EPS becomes a reality. After $2.00 actual EPS reported by AbbVie Inc. for the previous quarter, Wall Street now forecasts 0.50% EPS growth.

More notable recent AbbVie Inc. (NYSE:ABBV) news were published by: Seekingalpha.com which released: “Citron Protection For AbbVie” on July 20, 2018, also Seekingalpha.com with their article: “Stay Away From Coal Stocks – Cramer’s Lightning Round (8/9/18)” published on August 10, 2018, Benzinga.com published: “AbbVie’s Stock Hit By Citron Tweet” on July 20, 2018. More interesting news about AbbVie Inc. (NYSE:ABBV) were released by: Seekingalpha.com and their article: “AbbVie’s Outlook Remains Blurred” published on August 07, 2018 as well as Seekingalpha.com‘s news article titled: “AbbVie: Fundamental Disconnect” with publication date: July 19, 2018.

Carret Asset Management Llc, which manages about $1.76 billion and $607.78 million US Long portfolio, upped its stake in Welltower Inc by 13,640 shares to 69,171 shares, valued at $3.77M in 2018Q1, according to the filing. It also increased its holding in Delta Air Lines Inc (NYSE:DAL) by 11,955 shares in the quarter, for a total of 29,155 shares, and has risen its stake in Goldman Sachs Group Inc (NYSE:GS).

Wells Fargo & Company (NYSE:WFC) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter:


Recent Posts