Hilltop Holdings Inc. Has $4.82 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Hilltop Holdings Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,119 shares of the company’s stock after acquiring an additional 4,268 shares during the quarter. Hilltop Holdings Inc.’s holdings in AbbVie were worth $4,822,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Morgan Stanley lifted its holdings in shares of AbbVie by 2.9% during the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after acquiring an additional 1,702,415 shares during the period. Northern Trust Corp grew its stake in shares of AbbVie by 2.3% in the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after acquiring an additional 491,391 shares in the last quarter. Finally, Norges Bank acquired a new stake in AbbVie in the 4th quarter worth about $3,229,888,000. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on ABBV shares. Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Truist Financial increased their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research note on Friday, May 17th. They issued an “overweight” rating and a $200.00 price target for the company. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $176.14.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders sold a total of 302,561 shares of company stock valued at $53,645,658 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock traded down $1.20 during midday trading on Friday, hitting $157.06. 3,691,730 shares of the company traded hands, compared to its average volume of 5,267,838. The firm’s fifty day moving average price is $167.94 and its 200-day moving average price is $163.35. The stock has a market cap of $277.35 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 2.01 and a beta of 0.61. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the firm posted $2.46 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc. will post 11.26 earnings per share for the current 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.