TIAA Trust National Association Sells 4,498 Shares of AbbVie Inc. $ABBV

TIAA Trust National Association decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% in the 4th quarter, according to its most recent Form 13F 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in AbbVie by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after purchasing an additional 3,032,438 shares during the period. Geode Capital Management LLC lifted its position in AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the period. Norges Bank bought a new stake in AbbVie during the fourth quarter worth about $5,865,055,000. Capital Research Global Investors lifted 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 worth $5,805,530,000 after purchasing an additional 177,370 shares during the period. Finally, Franklin Resources Inc. lifted its position in AbbVie by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 14,881,504 shares of the company’s stock worth $3,400,274,000 after purchasing an additional 330,104 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent analyst reports. Guggenheim reaffirmed a “buy” rating and set a $249.00 price objective on shares of AbbVie in a research report on Friday, May 1st. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price for the company in a research note on Thursday, April 30th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley boosted their target price on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $253.43.

AbbVie Stock Performance

NYSE:ABBV opened at $223.00 on Tuesday. The company has a market capitalization of $394.00 billion, a PE ratio of 109.85, a P/E/G ratio of 0.69 and a beta of 0.32. The company has a 50 day simple moving average of $210.09 and a two-hundred day simple moving average of $219.18. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS. Research analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

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.