AbbVie Inc. (NYSE:ABBV) is Trustco Bank Corp N Y’s 7th Largest Position

Trustco Bank Corp N Y lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 19,014 shares of the company’s stock after selling 391 shares during the quarter. AbbVie comprises approximately 3.6% of Trustco Bank Corp N Y’s holdings, making the stock its 7th largest holding. Trustco Bank Corp N Y’s holdings in AbbVie were worth $3,379,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after purchasing an additional 1,424,237 shares during the period. Geode Capital Management LLC lifted its position in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after acquiring an additional 983,888 shares in the last quarter. Capital Research Global Investors lifted its position in AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after acquiring an additional 778,126 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $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 approximately $4,459,385,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 in the last three months. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. Raymond James reissued an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Cantor Fitzgerald started coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price on the stock. Finally, Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.95.

AbbVie Price Performance

Shares of ABBV opened at $184.02 on Monday. The company has a market cap of $325.06 billion, a P/E ratio of 76.68, a PEG ratio of 1.62 and a beta of 0.56. The stock has a fifty day moving average price of $191.30 and a 200 day moving average price of $186.85. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 EPS. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

About AbbVie

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.