As Citigroup (C) Market Value Rose, Shareholder Pittenger & Anderson Has Raised Position; Palouse Capital Management Stake in Abbvie (ABBV) Cut by $3.95 Million

January 22, 2018 - By Louis Casey

Palouse Capital Management Inc decreased its stake in Abbvie Inc (ABBV) by 39.99% based on its latest 2017Q3 regulatory filing with the SEC. Palouse Capital Management Inc sold 44,915 shares as the company’s stock rose 6.17% with the market. The institutional investor held 67,410 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $5.99 million, down from 112,325 at the end of the previous reported quarter. Palouse Capital Management Inc who had been investing in Abbvie Inc for a number of months, seems to be less bullish one the $169.56B market cap company. The stock increased 1.50% or $1.57 during the last trading session, reaching $106.21. About 1.58 million shares traded. AbbVie Inc. (NYSE:ABBV) has risen 10.63% since January 22, 2017 and is uptrending. It has underperformed by 6.07% the S&P500.

Pittenger & Anderson Inc increased its stake in Citigroup Inc (C) by 13.42% based on its latest 2017Q3 regulatory filing with the SEC. Pittenger & Anderson Inc bought 6,650 shares as the company’s stock rose 1.55% with the market. The institutional investor held 56,185 shares of the major banks company at the end of 2017Q3, valued at $4.09 million, up from 49,535 at the end of the previous reported quarter. Pittenger & Anderson Inc who had been investing in Citigroup Inc for a number of months, seems to be bullish on the $201.47B market cap company. The stock increased 0.13% or $0.1 during the last trading session, reaching $78.4. About 6.39 million shares traded. Citigroup Inc. (NYSE:C) has risen 35.60% since January 22, 2017 and is uptrending. It has outperformed by 18.90% the S&P500.

Analysts await AbbVie Inc. (NYSE:ABBV) to report earnings on January, 26. They expect $1.43 earnings per share, up 19.17% or $0.23 from last year’s $1.2 per share. ABBV’s profit will be $2.28 billion for 18.57 P/E if the $1.43 EPS becomes a reality. After $1.41 actual earnings per share reported by AbbVie Inc. for the previous quarter, Wall Street now forecasts 1.42% EPS growth.

Investors sentiment decreased to 0.85 in 2017 Q3. Its down 0.15, from 1 in 2017Q2. It fall, as 55 investors sold ABBV shares while 640 reduced holdings. 132 funds opened positions while 462 raised stakes. 1.06 billion shares or 1.89% more from 1.04 billion shares in 2017Q2 were reported. First Allied Advisory holds 78,840 shares or 0.3% of its portfolio. Moreover, Needelman Asset Incorporated has 2.2% invested in AbbVie Inc. (NYSE:ABBV) for 10,057 shares. Chevy Chase Trust invested in 0.61% or 1.51 million shares. Chilton Capital Ltd Liability has 9,860 shares for 0.08% of their portfolio. Crawford Investment Counsel Inc, Georgia-based fund reported 22,479 shares. Haverford holds 0.17% or 90,901 shares in its portfolio. America First Invest Ltd Liability Co has invested 0.05% in AbbVie Inc. (NYSE:ABBV). Cantab Prtnrs Llp owns 17,842 shares. Baldwin Investment Ltd Company reported 0.6% of its portfolio in AbbVie Inc. (NYSE:ABBV). Moreover, Blue Chip Ptnrs Inc has 2.71% invested in AbbVie Inc. (NYSE:ABBV) for 94,836 shares. Tarbox Family Office invested in 54,223 shares. Woodmont Investment Counsel Ltd Liability invested in 29,594 shares. Independent Investors holds 54,500 shares. Gofen And Glossberg Lc Il holds 195,098 shares or 0.64% of its portfolio. Manning & Napier Advsrs Limited holds 0.19% or 254,936 shares in its portfolio.

Among 21 analysts covering Abbvie Inc (NYSE:ABBV), 11 have Buy rating, 1 Sell and 9 Hold. Therefore 52% are positive. Abbvie Inc had 71 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by Jefferies with “Buy” on Thursday, May 25. The stock of AbbVie Inc. (NYSE:ABBV) earned “Hold” rating by Cowen & Co on Tuesday, September 5. The rating was maintained by UBS with “Buy” on Friday, October 23. The stock of AbbVie Inc. (NYSE:ABBV) has “Neutral” rating given on Friday, December 18 by Atlantic Securities. On Tuesday, January 16 the stock rating was maintained by Jefferies with “Buy”. Jefferies maintained the shares of ABBV in report on Friday, September 15 with “Buy” rating. The firm has “Outperform” rating by Leerink Swann given on Monday, October 30. As per Monday, November 20, the company rating was maintained by Cowen & Co. TheStreet upgraded AbbVie Inc. (NYSE:ABBV) on Tuesday, August 11 to “Buy” rating. The stock has “Overweight” rating by Morgan Stanley on Monday, November 2.

Since July 31, 2017, it had 0 buys, and 8 insider sales for $45.57 million activity. Gosebruch Henry O had sold 18,300 shares worth $1.66 million on Monday, October 30. SALEKI-GERHARDT AZITA had sold 8,300 shares worth $705,655 on Monday, September 11. Schumacher Laura J also sold $14.07M worth of AbbVie Inc. (NYSE:ABBV) shares. $8.57M worth of stock was sold by RICHMOND TIMOTHY J. on Monday, December 18. 6,699 shares valued at $589,512 were sold by Michael Robert A. on Thursday, September 28.

Investors sentiment increased to 1.35 in 2017 Q3. Its up 0.25, from 1.1 in 2017Q2. It improved, as 56 investors sold C shares while 400 reduced holdings. 125 funds opened positions while 492 raised stakes. 2.04 billion shares or 0.42% more from 2.03 billion shares in 2017Q2 were reported. Burney holds 0.61% or 139,548 shares in its portfolio. Highland Cap Management Limited Partnership holds 290,000 shares or 0.93% of its portfolio. Middleton And Co Ma reported 59,232 shares or 0.78% of all its holdings. 139,655 were accumulated by Davidson Invest Advsr. Schroder Investment Mngmt Gp reported 1.01% in Citigroup Inc. (NYSE:C). Loeb Corp accumulated 4,200 shares. The California-based First Quadrant Limited Partnership Ca has invested 0.18% in Citigroup Inc. (NYSE:C). Gabelli Funds Ltd Llc holds 805,046 shares or 0.34% of its portfolio. Ct Mason has 1.48% invested in Citigroup Inc. (NYSE:C). Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Mgmt, a Alberta – Canada-based fund reported 74,199 shares. Asset Mngmt Of Georgia Inc Ga Adv accumulated 0.35% or 6,559 shares. The Nebraska-based Ameritas Prns has invested 0.2% in Citigroup Inc. (NYSE:C). Allen Investment Management Limited Liability Company holds 0.14% or 42,436 shares in its portfolio. Glob Endowment Mngmt LP has invested 0.07% in Citigroup Inc. (NYSE:C). Barclays Public Limited Co reported 0.14% in Citigroup Inc. (NYSE:C).

Since August 4, 2017, it had 0 insider purchases, and 2 sales for $3.05 million activity. 5,000 shares were sold by WALSH JEFFREY R, worth $344,870 on Friday, August 4.

Pittenger & Anderson Inc, which manages about $1.04B and $1.10 billion US Long portfolio, decreased its stake in Walgreens Boots Alliance Inc by 4,990 shares to 20,830 shares, valued at $1.61M in 2017Q3, according to the filing. It also reduced its holding in Weyerhaeuser Co (NYSE:WY) by 61,899 shares in the quarter, leaving it with 8,125 shares, and cut its stake in Cisco Sys Inc (NASDAQ:CSCO).

Among 39 analysts covering Citigroup Inc. (NYSE:C), 18 have Buy rating, 3 Sell and 18 Hold. Therefore 46% are positive. Citigroup Inc. had 114 analyst reports since July 21, 2015 according to SRatingsIntel. The company was downgraded on Tuesday, January 16 by Keefe Bruyette & Woods. The firm has “Buy” rating by Vertical Group given on Tuesday, September 5. The rating was downgraded by Standpoint Research to “Hold” on Tuesday, January 10. RBC Capital Markets maintained the stock with “Buy” rating in Friday, August 18 report. As per Wednesday, June 7, the company rating was maintained by Keefe Bruyette & Woods. The firm has “Buy” rating by Evercore given on Monday, September 21. On Monday, December 21 the stock rating was initiated by Credit Suisse with “Neutral”. On Monday, November 30 the stock rating was upgraded by Guggenheim to “Buy”. The stock of Citigroup Inc. (NYSE:C) earned “Sector Perform” rating by Portales Partners on Thursday, January 7. The rating was maintained by CLSA with “Buy” on Friday, September 23.

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