AbbVie Inc. (NYSE:ABBV) Stock Position Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.1% in the 4th quarter, HoldingsChannel reports. The firm owned 4,113,561 shares of the company’s stock after selling 5,674 shares during the quarter. AbbVie makes up about 0.5% of Sumitomo Mitsui Trust Group Inc.’s portfolio, making the stock its 29th biggest position. Sumitomo Mitsui Trust Group Inc.’s holdings in AbbVie were worth $730,980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Atlanta Consulting Group Advisors LLC acquired a new position in shares of AbbVie in the third quarter worth about $999,000. Saturna Capital Corp lifted its position in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Everence Capital Management Inc. boosted its stake in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC grew its position in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABBV. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Morgan Stanley raised their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Up 0.6 %

ABBV stock opened at $192.95 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a 50-day moving average of $177.19 and a two-hundred day moving average of $185.43. The stock has a market capitalization of $340.96 billion, a price-to-earnings ratio of 80.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the business posted $2.79 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current year.

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.