Savior LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 27.0% in the 1st quarter, HoldingsChannel reports. The firm owned 200 shares of the company’s stock after selling 74 shares during the quarter. Savior LLC’s holdings in AbbVie were worth $33,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Castle Financial & Retirement Planning Associates Inc. acquired a new position in AbbVie during the fourth quarter valued at $25,000. Intelligent Financial Strategies acquired a new position in AbbVie during the fourth quarter valued at $27,000. Psagot Value Holdings Ltd. Israel raised its position in AbbVie by 311.3% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after buying an additional 3,300 shares during the period. Steward Financial Group LLC acquired a new position in AbbVie during the fourth quarter valued at $30,000. Finally, Maryland Capital Advisors Inc. acquired a new position in AbbVie during the fourth quarter valued at $41,000. 67.03% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:ABBV opened at $147.56 on Thursday. The business has a 50 day moving average price of $150.17 and a 200 day moving average price of $146.18. AbbVie Inc. has a twelve month low of $105.56 and a twelve month high of $175.91. The company has a market cap of $260.75 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 4.04 and a beta of 0.83. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89.
In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $150.28, for a total value of $15,028,000.00. Following the completion of the sale, the insider now owns 152,103 shares in the company, valued at approximately $22,858,038.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Henry O. Gosebruch sold 83,960 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $155.00, for a total value of $13,013,800.00. Following the completion of the sale, the executive vice president now owns 16,623 shares of the company’s stock, valued at approximately $2,576,565. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 463,761 shares of company stock valued at $70,609,771. 0.08% of the stock is owned by corporate insiders.
Several brokerages have weighed in on ABBV. BMO Capital Markets upped their target price on AbbVie from $161.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 25th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 target price on the stock. in a research report on Friday, May 6th. StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 8th. Morgan Stanley upped their target price on AbbVie from $142.00 to $192.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. Finally, The Goldman Sachs Group upped their target price on AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $159.75.
About AbbVie (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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