Pensionfund Sabic Sells 3,100 Shares of AbbVie Inc. (NYSE:ABBV)

Pensionfund Sabic lowered its stake in AbbVie Inc. (NYSE:ABBV) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,600 shares of the company’s stock after selling 3,100 shares during the quarter. AbbVie comprises approximately 0.9% of Pensionfund Sabic’s investment portfolio, making the stock its 22nd biggest holding. Pensionfund Sabic’s holdings in AbbVie were worth $3,023,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $26,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $36,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $37,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $42,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.0 %

Shares of AbbVie stock opened at $171.36 on Thursday. The firm has a 50-day moving average of $163.63 and a 200-day moving average of $166.41. The stock has a market cap of $302.60 billion, a PE ratio of 50.85, a PEG ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. 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 (NYSE:ABBV) last announced 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%. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 earnings per share. As a group, sell-side analysts forecast that AbbVie Inc. will post 11.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABBV. Barclays lowered their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Piper Sandler boosted their target price on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday. Two equities 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

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.