Twin Capital Management Inc. Lowers Position in AbbVie Inc. $ABBV

Twin Capital Management Inc. lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 18.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,979 shares of the company’s stock after selling 4,393 shares during the period. Twin Capital Management Inc.’s holdings in AbbVie were worth $4,337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Wellington Management Group LLP raised its holdings in shares of AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after acquiring an additional 8,646,424 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of AbbVie by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of AbbVie by 41.8% in the 2nd quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock valued at $1,733,222,000 after acquiring an additional 2,753,312 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of AbbVie by 31.8% in the 3rd quarter. Alliancebernstein L.P. now owns 7,281,327 shares of the company’s stock valued at $1,685,918,000 after acquiring an additional 1,758,657 shares in the last quarter. Finally, Amundi raised its holdings in shares of AbbVie by 15.6% during the 3rd quarter. Amundi now owns 10,508,317 shares of the company’s stock valued at $2,418,909,000 after buying an additional 1,414,621 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday. Canaccord Genuity Group raised their price objective on AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 30th. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a report on Thursday, February 5th. Finally, William Blair reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $253.43.

Insider Buying and Selling

In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the transaction, the senior vice president directly owned 2,654 shares of the company’s stock, valued at $619,868.24. The trade was a 66.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 22,381 shares of AbbVie stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value of $5,147,630.00. Following the completion of the transaction, the executive vice president directly owned 38,137 shares in the company, valued at $8,771,510. This trade represents a 36.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is owned by insiders.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s recent earnings call was described as upbeat, highlighting growth during a business transition and reinforcing investor confidence in the company’s earnings power. AbbVie Earnings Call Highlights Growth Amid Transition
• Positive Sentiment: AbbVie continues to screen as an undervalued dividend name in some market commentary, which may support sentiment among income-focused investors. 3 Stocks Estimated To Be Trading Below Intrinsic Value By 11.4% To 38.4%
• Neutral Sentiment: AbbVie has been showing up in stock-screening and “trending stock” coverage, suggesting elevated trader interest rather than a clear fundamental catalyst. Here is What to Know Beyond Why AbbVie Inc. (ABBV) is a Trending Stock
• Neutral Sentiment: Evercore ISI modestly lowered its price target on AbbVie, signaling slightly less enthusiasm, but the move was small and not a major negative revision. AbbVie (ABBV) Price Target Lowered to $235 at Evercore ISI
• Negative Sentiment: AbbVie’s patent effort for its hepatitis C treatment Mavyret was rejected in India, a setback that could limit protection for that product in a large market. AbbVie’s Patent Plea for Hepatitis C Therapy Mavyret Rejected in India
• Negative Sentiment: Coverage that Skyrizi lost ground to UCB’s Bimzelx in psoriatic arthritis raises a competitive concern for one of AbbVie’s key immunology growth drivers. AbbVie’s new immunology standard-bearer Skyrizi kneels to UCB’s Bimzelx in psoriatic arthritis

AbbVie Price Performance

Shares of AbbVie stock opened at $212.51 on Thursday. The business’s 50 day simple moving average is $209.19 and its two-hundred day simple moving average is $219.73. The stock has a market capitalization of $375.46 billion, a P/E ratio of 104.69, a price-to-earnings-growth ratio of 0.74 and a beta of 0.32. AbbVie Inc. has a one year low of $180.25 and a one year high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. Sell-side analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.