State of Wisconsin Investment Board Has $210.08 Million Stake in AbbVie Inc. $ABBV

State of Wisconsin Investment Board trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 919,423 shares of the company’s stock after selling 15,619 shares during the period. AbbVie makes up approximately 0.5% of State of Wisconsin Investment Board’s investment portfolio, making the stock its 26th largest position. State of Wisconsin Investment Board owned about 0.05% of AbbVie worth $210,079,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ABBV. Chelsea Counsel Co. acquired a new stake in shares of AbbVie in the 3rd quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $28,000. Westend Capital Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of AbbVie in the 3rd quarter valued at approximately $31,000. Finally, Legacy Wealth Managment LLC ID boosted its stake 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 valued at $31,000 after purchasing an additional 73 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.5%

Shares of ABBV stock opened at $222.62 on Wednesday. The firm has a market capitalization of $393.33 billion, a PE ratio of 109.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32. The firm has a fifty day simple moving average of $211.58 and a two-hundred day simple moving average of $218.89. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS 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 analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 EPS. On average, equities analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABBV shares. Morgan Stanley lifted their target price on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research report on Thursday, April 30th. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Evercore set a $235.00 price target on shares of AbbVie in a research report on Friday, May 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.