TIAA Trust National Association Has $35.53 Million Stake in AbbVie Inc. $ABBV

TIAA Trust National Association decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 155,510 shares of the company’s stock after selling 4,498 shares during the quarter. TIAA Trust National Association’s holdings in AbbVie were worth $35,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ABBV. Chelsea Counsel Co. bought a new position in shares of AbbVie in the 3rd quarter worth $26,000. Westend Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter worth $29,000. Texas Capital Bancshares Inc TX bought a new position in shares of AbbVie in the 3rd quarter worth $31,000. Legacy Wealth Managment LLC ID lifted its holdings in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC lifted its holdings in shares of AbbVie by 160.4% in the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 1.9%

Shares of NYSE:ABBV opened at $223.00 on Tuesday. The stock’s fifty day simple moving average is $210.09 and its two-hundred day simple moving average is $219.18. AbbVie Inc. has a 1-year low of $181.73 and a 1-year high of $244.81. The stock has a market cap of $394.00 billion, a PE ratio of 109.85, a price-to-earnings-growth ratio of 0.69 and a beta of 0.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating 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 business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same period last year, the business earned $2.46 EPS. The business’s revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Thursday, April 30th. Guggenheim reiterated a “buy” rating and issued a $249.00 target price on shares of AbbVie in a report on Friday, May 1st. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, William Blair reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $253.43.

AbbVie Profile

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.