NewEdge Wealth LLC Raises Stake in AbbVie Inc. $ABBV

NewEdge Wealth LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 32.9% in the third quarter, Holdings Channel reports. The institutional investor owned 304,522 shares of the company’s stock after buying an additional 75,364 shares during the quarter. AbbVie comprises about 0.9% of NewEdge Wealth LLC’s portfolio, making the stock its 15th biggest position. NewEdge Wealth LLC’s holdings in AbbVie were worth $66,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Alberta Investment Management Corp grew its stake in AbbVie by 8.4% during the third quarter. Alberta Investment Management Corp now owns 31,000 shares of the company’s stock valued at $7,178,000 after acquiring an additional 2,400 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of AbbVie during the 3rd quarter valued at $41,000. MJP Associates Inc. ADV increased its holdings in shares of AbbVie by 9.0% in the third quarter. MJP Associates Inc. ADV now owns 7,687 shares of the company’s stock worth $1,780,000 after purchasing an additional 636 shares during the period. Syon Capital LLC raised its position in shares of AbbVie by 16.4% in the third quarter. Syon Capital LLC now owns 24,839 shares of the company’s stock worth $5,751,000 after buying an additional 3,491 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its stake in AbbVie by 3.9% during the third quarter. Advisors Capital Management LLC now owns 614,095 shares of the company’s stock valued at $142,188,000 after buying an additional 22,999 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 1.7%

NYSE ABBV opened at $228.79 on Thursday. The company has a 50-day simple moving average of $224.01 and a two-hundred day simple moving average of $221.68. AbbVie Inc. has a 12-month low of $164.39 and a 12-month high of $244.81. The firm has a market cap of $404.36 billion, a price-to-earnings ratio of 96.95, a PEG ratio of 0.81 and a beta of 0.35.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, February 4th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.65 by $0.06. AbbVie had a net margin of 6.91% and a negative return on equity of 4,184.47%. The company had revenue of $16.62 billion for the quarter, compared to the consensus estimate of $16.39 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group lowered their price target on AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Berenberg Bank set a $275.00 target price on shares of AbbVie in a research note on Tuesday, January 20th. The Goldman Sachs Group reiterated a “neutral” rating and set a $223.00 target price on shares of AbbVie in a research report on Wednesday, January 28th. Raymond James Financial set a $256.00 price target on shares of AbbVie in a report on Monday, November 3rd. Finally, Citigroup dropped their price objective on shares of AbbVie from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.56.

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.