Sara Bay Financial Has $2.19 Million Position in AbbVie Inc. (NYSE:ABBV)

Sara Bay Financial grew its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,523 shares of the company’s stock after buying an additional 489 shares during the quarter. AbbVie accounts for about 0.9% of Sara Bay Financial’s portfolio, making the stock its 17th largest holding. Sara Bay Financial’s holdings in AbbVie were worth $2,192,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ABBV. Norges Bank acquired a new position in shares of AbbVie in the 4th quarter valued at approximately $2,433,269,000. State Street Corp increased its position in AbbVie by 3.4% during the 4th quarter. State Street Corp now owns 79,357,705 shares of the company’s stock worth $10,745,033,000 after purchasing an additional 2,597,076 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in AbbVie during the 4th quarter worth approximately $272,868,000. Capital International Investors increased its position in AbbVie by 19.7% during the 4th quarter. Capital International Investors now owns 11,615,068 shares of the company’s stock worth $1,572,680,000 after purchasing an additional 1,913,451 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in AbbVie by 51.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,533,034 shares of the company’s stock worth $752,074,000 after purchasing an additional 1,874,609 shares in the last quarter. Institutional investors own 67.03% of the company’s stock.

Shares of NYSE ABBV opened at $147.56 on Thursday. The firm has a market cap of $260.75 billion, a PE ratio of 21.17, a P/E/G ratio of 4.04 and a beta of 0.83. AbbVie Inc. has a 12-month low of $105.56 and a 12-month high of $175.91. The company’s fifty day simple moving average is $150.17 and its 200 day simple moving average is $146.18. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.01. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The firm had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.61 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 14.02 earnings per share for the current year.

ABBV has been the subject of a number of research analyst reports. SVB Leerink initiated coverage on shares of AbbVie in a research report on Monday, May 23rd. They set an “underperform” rating and a $140.00 price objective for the company. UBS Group cut shares of AbbVie from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $129.00 to $147.00 in a research report on Monday, February 28th. Citigroup upped their price objective on shares of AbbVie from $155.00 to $170.00 in a research report on Tuesday, March 1st. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research report on Friday, May 6th. Finally, Barclays upped their price target on shares of AbbVie from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

In related news, EVP Henry O. Gosebruch sold 83,960 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 16,623 shares in the company, valued at $2,576,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Michael Severino sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $150.81, for a total transaction of $15,081,000.00. Following the sale, the insider now owns 152,103 shares of the company’s stock, valued at approximately $22,938,653.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 463,761 shares of company stock worth $70,609,771. Corporate insiders own 0.08% of the company’s stock.

AbbVie Company 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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