Westwood Holdings Group Inc. Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Westwood Holdings Group Inc. decreased its position in AbbVie Inc. (NYSE:ABBVFree Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,291 shares of the company’s stock after selling 64 shares during the period. Westwood Holdings Group Inc.’s holdings in AbbVie were worth $1,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in AbbVie in the fourth quarter valued at about $3,229,888,000. International Assets Investment Management LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $499,955,000. Capital International Investors boosted its position in shares of AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after purchasing an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in AbbVie by 39.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after purchasing an additional 2,390,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $169.42 on Monday. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The firm has a market capitalization of $299.17 billion, a P/E ratio of 50.27, a P/E/G ratio of 2.17 and a beta of 0.60. The company’s fifty day moving average price is $164.31 and its 200 day moving average price is $164.96.

AbbVie (NYSE:ABBVGet Free Report) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $2.46 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ABBV shares. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Barclays lowered their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. BMO Capital Markets cut their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price target for the company. Finally, Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $178.21.

View Our Latest Research Report on AbbVie

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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