AbbVie Inc. (NYSE:ABBV) Shares Sold by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 15.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 98,336 shares of the company’s stock after selling 18,142 shares during the quarter. AbbVie comprises approximately 0.5% of Snowden Capital Advisors LLC’s portfolio, making the stock its 27th largest position. Snowden Capital Advisors LLC’s holdings in AbbVie were worth $17,474,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ABBV. Vanguard Group Inc. grew its stake in AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after buying an additional 983,888 shares in the last quarter. Capital Research Global Investors increased its stake in shares of AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after buying an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares in the last quarter. Finally, Norges Bank acquired a new position in AbbVie during the 4th quarter worth $4,459,385,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ABBV shares. StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. Evercore ISI upped their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, UBS Group raised their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $210.95.

Insider Buying and Selling

In related news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock valued at $23,426,451 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 2.3%

NYSE:ABBV opened at $181.52 on Friday. The stock has a market cap of $321.10 billion, a price-to-earnings ratio of 75.63, a PEG ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The business has a fifty day moving average of $191.89 and a 200-day moving average of $187.11.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter last year, the company earned $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Profile

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.