CHICAGO TRUST Co NA boosted its position in AbbVie Inc. (NYSE:ABBV – Get Rating) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,293 shares of the company’s stock after purchasing an additional 9,163 shares during the quarter. AbbVie comprises 3.1% of CHICAGO TRUST Co NA’s holdings, making the stock its 4th biggest position. CHICAGO TRUST Co NA’s holdings in AbbVie were worth $12,318,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of AbbVie by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 156,022,414 shares of the company’s stock worth $20,939,769,000 after buying an additional 2,442,663 shares in the last quarter. State Street Corp raised its position in shares of AbbVie by 0.5% during the 3rd quarter. State Street Corp now owns 77,486,317 shares of the company’s stock worth $10,399,439,000 after buying an additional 366,695 shares in the last quarter. Morgan Stanley raised its holdings in shares of AbbVie by 17.9% in the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after purchasing an additional 4,785,277 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after purchasing an additional 29,170,366 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of AbbVie in the 4th quarter worth approximately $3,033,348,000. 68.27% of the stock is currently owned by institutional investors.
AbbVie Stock Performance
Shares of ABBV opened at $136.86 on Thursday. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.82 and a current ratio of 0.96. The company has a market capitalization of $241.46 billion, a PE ratio of 32.35, a PEG ratio of 2.53 and a beta of 0.58. AbbVie Inc. has a 52 week low of $131.10 and a 52 week high of $168.11. The company’s 50 day moving average price is $145.98 and its 200 day moving average price is $152.43.
Insiders Place Their Bets
In other AbbVie news, SVP Elaine K. Sorg sold 6,130 shares of the business’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 completion of the sale, the senior vice president now directly owns 35,330 shares of the company’s stock, valued at $5,829,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Perry C. Siatis sold 3,520 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $160.00, for a total value of $563,200.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Elaine K. Sorg sold 6,130 shares of the business’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,011,450.00. Following the completion of the sale, the senior vice president now owns 35,330 shares of the company’s stock, valued at $5,829,450. The disclosure for this sale can be found here. Insiders sold 32,151 shares of company stock valued at $5,187,783 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on ABBV shares. Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Morgan Stanley boosted their target price on shares of AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a report on Monday, April 10th. Guggenheim dropped their target price on shares of AbbVie from $172.00 to $171.00 in a report on Friday, April 28th. Barclays lifted their target price on shares of AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. Finally, Wolfe Research downgraded shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 22nd. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $163.40.
AbbVie 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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