USS Investment Management Ltd Sells 13,433 Shares of AbbVie Inc. (NYSE:ABBV)

USS Investment Management Ltd cut its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 470,730 shares of the company's stock after selling 13,433 shares during the quarter. USS Investment Management Ltd's holdings in AbbVie were worth $83,693,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Waverly Advisors LLC boosted its holdings in AbbVie by 15.5% in the fourth quarter. Waverly Advisors LLC now owns 114,340 shares of the company's stock worth $20,318,000 after purchasing an additional 15,383 shares during the period. Whelan Financial acquired a new stake in shares of AbbVie in the 4th quarter worth about $211,000. Willis Johnson & Associates Inc. raised its holdings in shares of AbbVie by 9.4% during the fourth quarter. Willis Johnson & Associates Inc. now owns 3,379 shares of the company's stock valued at $600,000 after buying an additional 291 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its position in AbbVie by 11.7% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 420,327 shares of the company's stock worth $74,692,000 after acquiring an additional 43,991 shares during the period. Finally, Victrix Investment Advisors acquired a new position in AbbVie during the 4th quarter worth $1,024,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 0.3%

Shares of NYSE ABBV traded up $0.52 during mid-day trading on Thursday, reaching $182.32. 4,684,698 shares of the company traded hands, compared to its average volume of 6,250,652. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a market cap of $322.05 billion, a PE ratio of 75.97, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company's fifty day moving average is $189.64 and its two-hundred day moving average is $186.68. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,693 shares of company stock worth $22,282,985 in the last 90 days. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

ABBV has been the subject of a number of analyst reports. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Cantor Fitzgerald assumed coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Guggenheim upped their target price on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $210.95.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.