Unigestion Holding SA Has $5.18 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Unigestion Holding SA reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 55.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,740 shares of the company's stock after selling 30,983 shares during the period. Unigestion Holding SA's holdings in AbbVie were worth $5,184,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ABBV. Vanguard Group Inc. raised its stake in AbbVie by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC increased its position in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after buying an additional 983,888 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after buying an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Finally, Norges Bank purchased a new position in AbbVie during the fourth quarter valued at approximately $4,459,385,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 0.0%

NYSE:ABBV traded up $0.05 on Wednesday, reaching $187.30. The company's stock had a trading volume of 4,379,502 shares, compared to its average volume of 6,232,265. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a 50 day moving average price of $185.37 and a 200 day moving average price of $186.65. AbbVie Inc. has a 12-month low of $159.77 and a 12-month high of $218.66. The firm has a market cap of $330.85 billion, a price-to-earnings ratio of 78.04, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (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 firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the prior year, the firm earned $2.31 EPS. The business's revenue was up 8.4% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABBV. Citigroup reiterated a "neutral" rating and issued a $205.00 target price (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Bank of America increased their target price on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price on the stock. Finally, Guggenheim increased their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

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.