Armstrong Advisory Group Inc. lessened its position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,008 shares of the company’s stock after selling 218 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in AbbVie were worth $1,754,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in AbbVie by 1.6% during the third quarter. Vanguard Group Inc. now owns 156,022,414 shares of the company’s stock valued at $20,939,769,000 after purchasing an additional 2,442,663 shares during the period. State Street Corp grew its holdings in AbbVie by 0.5% during the third quarter. State Street Corp now owns 77,486,317 shares of the company’s stock valued at $10,399,439,000 after purchasing an additional 366,695 shares during the period. Morgan Stanley grew its holdings in AbbVie by 17.9% during the fourth quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock valued at $5,102,311,000 after purchasing an additional 4,785,277 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in AbbVie by 89,097.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after purchasing an additional 29,170,366 shares during the period. Finally, Norges Bank bought a new stake in AbbVie during the fourth quarter valued at about $3,033,348,000. Hedge funds and other institutional investors own 68.27% of the company’s stock.
AbbVie Price Performance
NYSE:ABBV opened at $137.86 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 4.46. The company has a market capitalization of $243.23 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.53 and a beta of 0.58. AbbVie Inc. has a 12 month low of $131.10 and a 12 month high of $168.11. The business’s 50-day moving average is $146.49 and its 200 day moving average is $152.54.
Insider Buying and Selling at AbbVie
In other AbbVie news, EVP Perry C. Siatis sold 3,520 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total transaction of $563,200.00. Following the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,660,320. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other AbbVie news, EVP Perry C. Siatis sold 3,520 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total transaction of $563,200.00. Following the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,660,320. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Elaine K. Sorg sold 6,130 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $165.00, for a total value of $1,011,450.00. Following the sale, the senior vice president now owns 35,330 shares in the company, valued at $5,829,450. The disclosure for this sale can be found here. Insiders have sold a total of 32,151 shares of company stock worth $5,187,783 over the last ninety days. Company insiders own 0.26% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on ABBV. Wells Fargo & Company cut their price target on AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Guggenheim dropped their price objective on AbbVie from $172.00 to $171.00 in a research note on Friday, April 28th. Barclays upped their price objective on AbbVie from $155.00 to $160.00 in a research note on Wednesday, April 12th. StockNews.com assumed coverage on AbbVie in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Finally, Morgan Stanley upped their price objective on AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.40.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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