Twin Capital Management Inc. Sells 4,393 Shares of AbbVie Inc. $ABBV

Twin Capital Management Inc. reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 18.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,979 shares of the company’s stock after selling 4,393 shares during the quarter. Twin Capital Management Inc.’s holdings in AbbVie were worth $4,337,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ABBV. Brighton Jones LLC boosted its position in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock valued at $3,056,000 after buying an additional 789 shares during the last quarter. Ieq Capital LLC raised its stake in AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock valued at $22,281,000 after buying an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after buying an additional 612,702 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 22,381 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value of $5,147,630.00. Following the completion of the transaction, the executive vice president owned 38,137 shares in the company, valued at $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David Ryan Purdue sold 5,230 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the transaction, the senior vice president owned 2,654 shares of the company’s stock, valued at $619,868.24. This represents a 66.34% decrease in their position. The SEC filing for this sale provides additional information. 0.06% of the stock is owned by insiders.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s recent earnings call was described as upbeat, highlighting growth during a business transition and reinforcing investor confidence in the company’s earnings power. AbbVie Earnings Call Highlights Growth Amid Transition
• Positive Sentiment: AbbVie continues to screen as an undervalued dividend name in some market commentary, which may support sentiment among income-focused investors. 3 Stocks Estimated To Be Trading Below Intrinsic Value By 11.4% To 38.4%
• Neutral Sentiment: AbbVie has been showing up in stock-screening and “trending stock” coverage, suggesting elevated trader interest rather than a clear fundamental catalyst. Here is What to Know Beyond Why AbbVie Inc. (ABBV) is a Trending Stock
• Neutral Sentiment: Evercore ISI modestly lowered its price target on AbbVie, signaling slightly less enthusiasm, but the move was small and not a major negative revision. AbbVie (ABBV) Price Target Lowered to $235 at Evercore ISI
• Negative Sentiment: AbbVie’s patent effort for its hepatitis C treatment Mavyret was rejected in India, a setback that could limit protection for that product in a large market. AbbVie’s Patent Plea for Hepatitis C Therapy Mavyret Rejected in India
• Negative Sentiment: Coverage that Skyrizi lost ground to UCB’s Bimzelx in psoriatic arthritis raises a competitive concern for one of AbbVie’s key immunology growth drivers. AbbVie’s new immunology standard-bearer Skyrizi kneels to UCB’s Bimzelx in psoriatic arthritis

AbbVie Price Performance

ABBV stock opened at $212.51 on Thursday. AbbVie Inc. has a 1-year low of $180.25 and a 1-year high of $244.81. The business has a fifty day moving average price of $209.19 and a 200-day moving average price of $219.73. The stock has a market capitalization of $375.46 billion, a P/E ratio of 104.69, a P/E/G ratio of 0.74 and a beta of 0.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the previous year, the business earned $2.46 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ABBV. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research note on Thursday, February 5th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 price objective on shares of AbbVie in a research note on Thursday, April 30th. Piper Sandler lifted their price objective on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, William Blair reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $253.43.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.