Moody National Bank Trust Division reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 14.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,723 shares of the company’s stock after selling 5,945 shares during the period. AbbVie comprises about 0.2% of Moody National Bank Trust Division’s investment portfolio, making the stock its 25th biggest position. Moody National Bank Trust Division’s holdings in AbbVie were worth $5,791,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of ABBV. Castle Financial & Retirement Planning Associates Inc. acquired a new position in AbbVie in the fourth quarter valued at about $25,000. Intelligent Financial Strategies acquired a new position in AbbVie in the fourth quarter valued at about $27,000. Psagot Value Holdings Ltd. Israel boosted its position in AbbVie by 311.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after buying an additional 3,300 shares in the last quarter. Steward Financial Group LLC acquired a new position in AbbVie in the fourth quarter valued at about $30,000. Finally, Maryland Capital Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 67.03% of the company’s stock.
A number of equities analysts have commented on the stock. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 price target on the stock. in a research report on Friday, May 6th. Citigroup boosted their price target on shares of AbbVie from $155.00 to $170.00 in a research report on Tuesday, March 1st. Morgan Stanley boosted their target price on shares of AbbVie from $142.00 to $192.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. SVB Leerink started coverage on shares of AbbVie in a research note on Monday, May 23rd. They issued an “underperform” rating and a $140.00 target price for the company. Finally, Barclays boosted their target price on shares of AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.75.
AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.01. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. AbbVie’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 earnings per share. As a group, analysts expect that AbbVie Inc. will post 14.02 EPS for the current year.
In related news, Vice Chairman Michael Severino sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $150.81, for a total transaction of $15,081,000.00. Following the completion of the transaction, the insider now owns 152,103 shares in the company, valued at $22,938,653.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the transaction, the executive vice president now owns 16,623 shares of the company’s stock, valued at approximately $2,576,565. The disclosure for this sale can be found here. Over the last three months, insiders have sold 463,761 shares of company stock valued at $70,609,771. 0.08% of the stock is currently owned by insiders.
AbbVie Profile (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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