American International Group Inc. Has $74.95 Million Position in AbbVie Inc. (NYSE:ABBV)

American International Group Inc. reduced its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 463,739 shares of the company’s stock after selling 9,592 shares during the period. AbbVie accounts for about 0.5% of American International Group Inc.’s portfolio, making the stock its 24th largest holding. American International Group Inc.’s holdings in AbbVie were worth $74,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. O Dell Group LLC increased its stake in shares of AbbVie by 108.7% during the 3rd quarter. O Dell Group LLC now owns 192 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in shares of AbbVie by 85.3% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock worth $27,000 after purchasing an additional 93 shares during the last quarter. Align Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $27,000. Red Tortoise LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $27,000. Finally, My Personal CFO LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $32,000. 67.71% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE:ABBV traded down $0.77 during trading hours on Friday, reaching $137.85. The company had a trading volume of 2,203,551 shares, compared to its average volume of 5,820,860. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 4.46. AbbVie Inc. has a 52 week low of $134.09 and a 52 week high of $168.11. The firm has a market cap of $243.21 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.57 and a beta of 0.58. The firm’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 earnings results on Thursday, April 27th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.02. The firm had revenue of $12.23 billion for the quarter, compared to analysts’ expectations of $12.23 billion. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The business’s revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.16 EPS. On average, analysts forecast that AbbVie Inc. will post 10.97 EPS for the current year.

Insider Transactions at AbbVie

In other AbbVie news, SVP Elaine K. Sorg sold 15,003 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $155.00, for a total value of $2,325,465.00. Following the completion of the transaction, the senior vice president now owns 42,829 shares of the company’s stock, valued at $6,638,495. The transaction was disclosed in a filing with the SEC, which is available at this link. In other AbbVie news, EVP Perry C. Siatis sold 3,520 shares of AbbVie stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $160.00, for a total transaction of $563,200.00. Following the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,660,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Elaine K. Sorg sold 15,003 shares of AbbVie stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $155.00, for a total transaction of $2,325,465.00. Following the transaction, the senior vice president now directly owns 42,829 shares in the company, valued at $6,638,495. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,356 shares of company stock valued at $19,901,151. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. BMO Capital Markets reduced their target price on shares of AbbVie from $169.00 to $167.00 and set an “outperform” rating for the company in a report on Monday, February 6th. SVB Securities raised shares of AbbVie from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $135.00 to $153.00 in a report on Friday, February 10th. Atlantic Securities cut their price objective on shares of AbbVie from $157.00 to $154.00 and set a “neutral” rating for the company in a report on Friday, February 10th. SVB Leerink raised shares of AbbVie from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $135.00 to $153.00 in a report on Friday, February 10th. Finally, Wells Fargo & Company cut their price objective on shares of AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.