Thornburg Investment Management Inc. Has $144.31 Million Stake in AbbVie Inc. (NYSE:ABBV)

Thornburg Investment Management Inc. cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 812,100 shares of the company’s stock after selling 275 shares during the quarter. AbbVie comprises about 1.9% of Thornburg Investment Management Inc.’s holdings, making the stock its 16th largest position. Thornburg Investment Management Inc.’s holdings in AbbVie were worth $144,310,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ABBV. Vanguard Group Inc. boosted its stake in AbbVie by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after purchasing an additional 983,888 shares in the last quarter. Capital Research Global Investors grew its stake in shares of AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after buying an additional 778,126 shares during the period. Charles Schwab Investment Management Inc. increased its position in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after buying an additional 3,599,336 shares in the last quarter. Finally, Norges Bank acquired a new position in AbbVie during the 4th quarter worth approximately $4,459,385,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $184.02 on Friday. The company has a market capitalization of $325.06 billion, a PE ratio of 76.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a 50-day simple moving average of $191.30 and a 200 day simple moving average of $186.97.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. AbbVie’s revenue was up 8.4% on a year-over-year basis. On average, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 in the last 90 days. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ABBV shares. Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Citigroup reissued a “neutral” rating and set a $205.00 target price (down from $210.00) on shares of AbbVie in a research report on Wednesday. Finally, BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.95.

About AbbVie

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.