Swiss National Bank Trims Stake in AbbVie Inc. (NYSE:ABBV)

Swiss National Bank trimmed its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,674,810 shares of the company’s stock after selling 696,600 shares during the period. AbbVie comprises 0.7% of Swiss National Bank’s portfolio, making the stock its 20th largest position. Swiss National Bank owned 0.32% of AbbVie worth $845,887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its holdings in AbbVie by 89,097.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after purchasing an additional 29,170,366 shares during the period. Norges Bank purchased a new stake in AbbVie in the fourth quarter worth about $3,033,348,000. Morgan Stanley grew its holdings in AbbVie by 17.9% in the fourth quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after purchasing an additional 4,785,277 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in AbbVie by 426.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock worth $754,155,000 after purchasing an additional 3,768,579 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of AbbVie during the second quarter valued at approximately $486,807,000. 67.86% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 2,912 shares of AbbVie stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total value of $450,544.64. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $8,649,312.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock traded up $1.08 on Friday, hitting $168.67. 7,870,521 shares of the stock traded hands, compared to its average volume of 4,794,196. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $172.85. The firm has a market cap of $303.61 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 2.99 and a beta of 0.57. The firm has a 50 day simple moving average of $156.52 and a two-hundred day simple moving average of $150.03. The company has a debt-to-equity ratio of 4.59, a current ratio of 0.96 and a quick ratio of 0.84.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 11.81% and a return on equity of 152.70%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the company posted $3.60 EPS. The business’s revenue was down 5.4% on a year-over-year basis. As a group, equities research analysts predict that AbbVie Inc. will post 11.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ABBV shares. Barclays increased their price target on shares of AbbVie from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. The Goldman Sachs Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target on the stock in a report on Monday, December 11th. HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and cut their price target for the company from $167.00 to $156.00 in a report on Monday, December 18th. Raymond James raised their target price on shares of AbbVie from $177.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, December 1st. Finally, Morgan Stanley raised their target price on shares of AbbVie from $193.00 to $196.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $167.13.

Read Our Latest Report on ABBV

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

See Also

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBVFree Report).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.