AbbVie Inc. (NYSE:ABBV) Holdings Lowered by Savior LLC

Savior LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBVGet 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.

AbbVie (NYSE:ABBVGet Rating) last announced its earnings results on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.01. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. During the same quarter in the prior year, the company earned $2.95 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 14.02 EPS for the current year.

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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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