Canada Pension Plan Investment Board grew its holdings in AbbVie Inc (NYSE:ABBV) by 185.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,118,764 shares of the company’s stock after purchasing an additional 727,151 shares during the period. Canada Pension Plan Investment Board owned approximately 0.08% of AbbVie worth $85,239,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Efficient Wealth Management LLC acquired a new position in AbbVie in the 1st quarter valued at approximately $27,000. Altshuler Shaham Ltd grew its holdings in shares of AbbVie by 8,825.0% during the 4th quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock valued at $32,000 after acquiring an additional 353 shares in the last quarter. Solstein Capital LLC acquired a new position in shares of AbbVie in the fourth quarter worth $32,000. Americana Partners LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $32,000. Finally, Virtus ETF Advisers LLC acquired a new stake in AbbVie during the fourth quarter valued at $33,000. 72.44% of the stock is owned by institutional investors and hedge funds.

In other AbbVie news, SVP Jeffrey Ryan Stewart sold 23,024 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the sale, the senior vice president now directly owns 52,760 shares of the company’s stock, valued at approximately $4,748,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 19,445 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $1,652,825.00. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on the company. Bank of America initiated coverage on AbbVie in a report on Monday, May 18th. They set a “neutral” rating and a $95.00 price target for the company. ValuEngine cut shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Piper Sandler increased their price target on shares of AbbVie from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price objective on shares of AbbVie in a research note on Monday, May 11th. Finally, Barclays assumed coverage on shares of AbbVie in a report on Thursday, February 27th. They issued an “equal weight” rating and a $97.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. AbbVie currently has an average rating of “Buy” and an average price target of $101.31.

Shares of ABBV traded up $0.81 during trading hours on Friday, reaching $93.85. 9,601,130 shares of the company traded hands, compared to its average volume of 12,602,468. The stock’s fifty day moving average is $86.92 and its 200 day moving average is $85.94. AbbVie Inc has a 1-year low of $62.55 and a 1-year high of $97.86. The stock has a market cap of $134.22 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.25 by $0.17. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The firm had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the firm earned $2.14 earnings per share. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc will post 10.7 EPS for the current fiscal year.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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