Migdal Insurance & Financial Holdings Ltd. Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Migdal Insurance & Financial Holdings Ltd. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 13.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,036 shares of the company’s stock after selling 326 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in AbbVie were worth $362,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ABBV. Groupama Asset Managment grew its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie in the 4th quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. grew its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABBV. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Truist Financial lifted their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Citigroup lifted their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their price target on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $208.35.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $190.67 on Friday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $336.94 billion, a P/E ratio of 79.45, a P/E/G ratio of 1.84 and a beta of 0.58. The company’s fifty day moving average price is $177.38 and its two-hundred day moving average price is $185.48.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the company posted $2.79 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

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.