AbbVie Inc. (NYSE:ABBV) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its position in AbbVie Inc. (NYSE:ABBV) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,398,331 shares of the company’s stock after selling 349,024 shares during the quarter. AbbVie comprises 0.5% of Vanguard Group Inc.’s investment portfolio, making the stock its 22nd biggest position. Vanguard Group Inc. owned 9.08% of AbbVie worth $24,856,929,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ABBV. Fiera Capital Corp raised its stake in shares of AbbVie by 2.6% in the 3rd quarter. Fiera Capital Corp now owns 3,490 shares of the company’s stock valued at $520,000 after acquiring an additional 90 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in AbbVie in the third quarter valued at approximately $23,262,000. FMR LLC lifted its stake in AbbVie by 3.4% during the third quarter. FMR LLC now owns 11,271,472 shares of the company’s stock worth $1,680,126,000 after purchasing an additional 371,842 shares in the last quarter. Intact Investment Management Inc. lifted its stake in AbbVie by 1.8% during the third quarter. Intact Investment Management Inc. now owns 74,400 shares of the company’s stock worth $11,090,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Qtron Investments LLC boosted its position in shares of AbbVie by 3.9% during the third quarter. Qtron Investments LLC now owns 20,924 shares of the company’s stock worth $3,119,000 after buying an additional 782 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $169.70 on Tuesday. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market capitalization of $299.67 billion, a P/E ratio of 50.36, a PEG ratio of 2.16 and a beta of 0.60. The company’s fifty day moving average is $163.56 and its two-hundred day moving average is $166.18.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $2.46 earnings per share. Analysts forecast that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 target price on the stock. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Guggenheim boosted 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. Barclays cut their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, BMO Capital Markets reduced their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.21.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie 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 transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet'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.