AbbVie Inc. (NYSE:ABBV) Shares Purchased by TCW Group Inc.

TCW Group Inc. lifted its position in AbbVie Inc. (NYSE:ABBVFree Report) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 340,671 shares of the company’s stock after acquiring an additional 31,748 shares during the quarter. TCW Group Inc.’s holdings in AbbVie were worth $52,788,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ABBV. Aspen Wealth Strategies LLC increased its holdings in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after purchasing an additional 61 shares in the last quarter. Marks Group Wealth Management Inc increased its holdings in AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after purchasing an additional 63 shares in the last quarter. Avion Wealth increased its holdings in AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after purchasing an additional 65 shares in the last quarter. White Pine Capital LLC increased its holdings in AbbVie by 1.2% during the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock worth $852,000 after purchasing an additional 65 shares in the last quarter. Finally, JNBA Financial Advisors increased its holdings in AbbVie by 0.7% during the 4th quarter. JNBA Financial Advisors now owns 9,208 shares of the company’s stock worth $1,427,000 after purchasing an additional 66 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 330,454 shares of company stock valued at $58,595,955. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

Shares of ABBV stock traded down $1.35 during trading hours on Thursday, hitting $158.26. 5,615,177 shares of the company’s stock were exchanged, compared to its average volume of 5,528,774. The company has a market capitalization of $279.47 billion, a PE ratio of 47.29, a PEG ratio of 2.09 and a beta of 0.61. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The business’s 50 day simple moving average is $168.81 and its 200-day simple moving average is $162.98. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBVGet Free Report) last issued its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 11.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Truist Financial raised their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets cut their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective for the company. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.14.

Get Our Latest Analysis on ABBV

About AbbVie

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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