State of Wisconsin Investment Board Sells 15,619 Shares of AbbVie Inc. $ABBV

State of Wisconsin Investment Board lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 1.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 919,423 shares of the company’s stock after selling 15,619 shares during the quarter. AbbVie comprises approximately 0.5% of State of Wisconsin Investment Board’s holdings, making the stock its 26th biggest position. State of Wisconsin Investment Board’s holdings in AbbVie were worth $210,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares in the last quarter. State Street Corp grew its holdings in shares of AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after acquiring an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares in the last quarter. Norges Bank bought a new position in AbbVie during the fourth quarter valued at about $5,865,055,000. Finally, Capital Research Global Investors grew its position in AbbVie by 0.7% during the fourth quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock valued at $5,805,530,000 after buying an additional 177,370 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 0.5%

Shares of NYSE:ABBV opened at $222.62 on Wednesday. The firm has a market capitalization of $393.33 billion, a PE ratio of 109.67, a P/E/G ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The company has a 50-day moving average price of $211.58 and a two-hundred day moving average price of $218.89.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ABBV shares. Guggenheim restated a “buy” rating and set a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. Canaccord Genuity Group increased their price target on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Barclays started coverage on shares of AbbVie in a research report on Thursday, February 19th. They set an “overweight” rating and a $275.00 price target for the company. Finally, Royal Bank Of Canada started coverage on shares of AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.