AbbVie Inc. (NYSE:ABBV) Shares Acquired by Loews Corp

Loews Corp increased its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. AbbVie makes up about 0.1% of Loews Corp’s holdings, making the stock its 10th biggest position. Loews Corp’s holdings in AbbVie were worth $12,929,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Edmp Inc. grew its stake in AbbVie by 15,607.4% in the fourth quarter. Edmp Inc. now owns 5,249,578 shares of the company’s stock valued at $32,483,000 after acquiring an additional 5,216,157 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in AbbVie by 426.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after acquiring an additional 3,768,579 shares during the period. Vanguard Group Inc. grew its stake in AbbVie by 1.6% in the third quarter. Vanguard Group Inc. now owns 156,022,414 shares of the company’s stock valued at $20,939,769,000 after acquiring an additional 2,442,663 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of AbbVie by 146.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,352,924 shares of the company’s stock valued at $219,322,000 after purchasing an additional 804,700 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of AbbVie by 22.0% in the fourth quarter. First Trust Advisors LP now owns 3,802,012 shares of the company’s stock valued at $614,446,000 after purchasing an additional 686,191 shares in the last quarter. Institutional investors and hedge funds own 67.71% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, SVP Elaine K. Sorg sold 6,130 shares of AbbVie stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $152.28, for a total value of $8,089,875.00. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $9,280,095.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Elaine K. Sorg sold 6,130 shares of the business’s stock in a transaction dated 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 approximately $5,829,450. The disclosure for this sale can be found here. Insiders sold a total of 128,356 shares of company stock worth $19,901,151 over the last ninety days. 0.26% of the stock is owned by corporate insiders.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $1.23 during mid-day trading on Friday, hitting $137.39. The company had a trading volume of 2,783,155 shares, compared to its average volume of 5,824,714. The company has a market capitalization of $242.40 billion, a price-to-earnings ratio of 32.77, a P/E/G ratio of 2.57 and a beta of 0.58. AbbVie Inc. has a 1 year low of $134.09 and a 1 year high of $168.11. 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 stock’s 50-day moving average price is $154.18 and its 200-day moving average price is $154.85.

AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.02. The company had revenue of $12.23 billion during the quarter, compared to analysts’ expectations of $12.23 billion. AbbVie had a return on equity of 153.92% and a net margin of 13.37%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.16 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 10.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ABBV shares. Piper Jaffray Companies raised their target price on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a report on Friday, February 10th. Piper Sandler raised their target price on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Barclays raised their target price on AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. Wells Fargo & Company dropped their target price on AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Finally, Morgan Stanley lifted their price target on AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a report on Monday, April 10th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $163.40.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.