Cushing Asset Management LP Lowered Transcanada (TRP) Stake by $628,800; Amalgamated Bank Upped Stake in Abbvie (ABBV) by $1.77 Million

May 23, 2018 - By Michael Collier

AbbVie Inc. (NYSE:ABBV) Logo

Cushing Asset Management Lp decreased its stake in Transcanada Corp (TRP) by 28.67% based on its latest 2017Q4 regulatory filing with the SEC. Cushing Asset Management Lp sold 13,100 shares as the company’s stock declined 16.00% with the market. The hedge fund held 32,600 shares of the natural gas distribution company at the end of 2017Q4, valued at $1.59 million, down from 45,700 at the end of the previous reported quarter. Cushing Asset Management Lp who had been investing in Transcanada Corp for a number of months, seems to be less bullish one the $37.78B market cap company. The stock decreased 1.65% or $0.71 during the last trading session, reaching $42.26. About 4.79M shares traded or 237.64% up from the average. TransCanada Corporation (NYSE:TRP) has declined 12.65% since May 23, 2017 and is downtrending. It has underperformed by 24.20% the S&P500.

Amalgamated Bank increased its stake in Abbvie Inc (ABBV) by 9.59% based on its latest 2017Q4 regulatory filing with the SEC. Amalgamated Bank bought 18,436 shares as the company’s stock declined 6.31% with the market. The institutional investor held 210,646 shares of the major pharmaceuticals company at the end of 2017Q4, valued at $20.37 million, up from 192,210 at the end of the previous reported quarter. Amalgamated Bank who had been investing in Abbvie Inc for a number of months, seems to be bullish on the $167.58B market cap company. The stock decreased 0.59% or $0.63 during the last trading session, reaching $105.6. About 12.05M shares traded or 67.88% up from the average. AbbVie Inc. (NYSE:ABBV) has risen 39.20% since May 23, 2017 and is uptrending. It has outperformed by 27.65% the S&P500.

Investors sentiment decreased to 0.8 in 2017 Q4. Its down 0.05, from 0.85 in 2017Q3. It worsened, as 42 investors sold ABBV shares while 695 reduced holdings. 139 funds opened positions while 448 raised stakes. 1.06 billion shares or 0.35% more from 1.06 billion shares in 2017Q3 were reported. Hilltop Hldgs stated it has 30,432 shares. Kcm Invest Advsrs Ltd Liability Co holds 0.86% or 152,432 shares in its portfolio. Lazard Asset Mngmt Lc holds 0.11% or 603,531 shares in its portfolio. Montgomery Inv Inc has 0.78% invested in AbbVie Inc. (NYSE:ABBV). Hills Savings Bank has invested 0.11% in AbbVie Inc. (NYSE:ABBV). Novare Capital Ltd has 54,130 shares. Rathbone Brothers Public Limited Company reported 104,265 shares. Alphamark Advsrs Ltd holds 0.17% of its portfolio in AbbVie Inc. (NYSE:ABBV) for 4,583 shares. Cornerstone Partners Ltd Llc stated it has 31,470 shares or 0.07% of all its holdings. Iowa Bancorporation reported 2.86% in AbbVie Inc. (NYSE:ABBV). Fidelity Natl Financial holds 2.96% or 207,950 shares. Sector Pension Invest Board owns 0.05% invested in AbbVie Inc. (NYSE:ABBV) for 85,435 shares. Institute For Wealth Management Lc holds 0.29% of its portfolio in AbbVie Inc. (NYSE:ABBV) for 12,846 shares. Shufro Rose & Com Ltd Llc holds 0.02% of its portfolio in AbbVie Inc. (NYSE:ABBV) for 2,255 shares. Regions Corp holds 0.27% or 262,164 shares in its portfolio.

Among 23 analysts covering Abbvie Inc (NYSE:ABBV), 10 have Buy rating, 2 Sell and 11 Hold. Therefore 43% are positive. Abbvie Inc had 91 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Tuesday, February 23 by Citigroup. The stock of AbbVie Inc. (NYSE:ABBV) has “Hold” rating given on Sunday, July 30 by BMO Capital Markets. The firm earned “Neutral” rating on Monday, October 31 by Credit Suisse. The firm earned “Equal-Weight” rating on Tuesday, January 30 by Morgan Stanley. The stock of AbbVie Inc. (NYSE:ABBV) has “Buy” rating given on Monday, November 20 by Cowen & Co. The firm earned “Buy” rating on Friday, April 13 by Jefferies. The rating was upgraded by Citigroup to “” on Monday, September 28. Morgan Stanley maintained AbbVie Inc. (NYSE:ABBV) rating on Monday, April 30. Morgan Stanley has “Equal-Weight” rating and $110 target. Barclays Capital downgraded the stock to “Equal-Weight” rating in Tuesday, December 1 report. The firm earned “Buy” rating on Thursday, September 28 by Piper Jaffray.

More notable recent AbbVie Inc. (NYSE:ABBV) news were published by: Fool.com which released: “Better Buy: Johnson & Johnson (JNJ) vs. AbbVie (ABBV)” on May 02, 2018, also Seekingalpha.com with their article: “AbbVie Is Still A One-Trick Pony” published on April 26, 2018, Investorplace.com published: “3 Stocks to Buy to Find Gains in Today’s Market” on May 22, 2018. More interesting news about AbbVie Inc. (NYSE:ABBV) were released by: Streetinsider.com and their article: “Abbvie (ABBV) PT Lowered to $78 at BMO Capital” published on May 23, 2018 as well as 247Wallst.com‘s news article titled: “Why One Old Stock Buyback Trick Is Working So Well for AbbVie” with publication date: May 01, 2018.

Since December 14, 2017, it had 0 insider buys, and 11 sales for $47.70 million activity. Michael Robert A. sold $512,853 worth of AbbVie Inc. (NYSE:ABBV) on Wednesday, February 28. SEVERINO MICHAEL sold $311,684 worth of stock or 2,643 shares. Another trade for 25,000 shares valued at $2.95M was made by Schumacher Laura J on Wednesday, February 28. ALBAN CARLOS had sold 83,574 shares worth $9.57M on Wednesday, February 28. Another trade for 70,928 shares valued at $8.31 million was sold by CHASE WILLIAM J. SALEKI-GERHARDT AZITA sold $157,458 worth of stock or 1,337 shares.

More notable recent TransCanada Corporation (NYSE:TRP) news were published by: Seekingalpha.com which released: “Show Me The Money” on May 10, 2018, also Globenewswire.com with their article: “Factors of Influence in 2018, Key Indicators and Opportunity within Veritiv, Federal Agricultural Mortgage, Community …” published on May 18, 2018, Fool.ca published: “Enbridge Inc. vs. TransCanada Corp.: Better Buy on the Dip?” on May 22, 2018. More interesting news about TransCanada Corporation (NYSE:TRP) were released by: Globenewswire.com and their article: “TC PipeLines, LP to Attend 2018 MLP & Energy Infrastructure Conference” published on May 17, 2018 as well as Seekingalpha.com‘s news article titled: “Reuters: US lifts Keystone pipeline pressure restrictions” with publication date: May 03, 2018.

Analysts await TransCanada Corporation (NYSE:TRP) to report earnings on July, 27. They expect $0.56 EPS, 0.00% or $0.00 from last year’s $0.56 per share. TRP’s profit will be $500.58M for 18.87 P/E if the $0.56 EPS becomes a reality. After $0.78 actual EPS reported by TransCanada Corporation for the previous quarter, Wall Street now forecasts -28.21% negative EPS growth.

TransCanada Corporation (NYSE:TRP) Ratings Chart

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