AbbVie Inc. $ABBV Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co lowered its position in AbbVie Inc. (NYSE:ABBV) by 29.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 171,861 shares of the company’s stock after selling 71,822 shares during the quarter. AbbVie accounts for 2.6% of FUKOKU MUTUAL LIFE INSURANCE Co’s holdings, making the stock its 9th largest position. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in AbbVie were worth $39,269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. increased its stake in shares of AbbVie by 12.9% in the fourth quarter. Marshall & Sterling Wealth Advisors Inc. now owns 1,800 shares of the company’s stock valued at $411,000 after buying an additional 206 shares during the period. South Street Advisors LLC boosted its holdings in AbbVie by 10.7% in the fourth quarter. South Street Advisors LLC now owns 13,971 shares of the company’s stock valued at $3,192,000 after acquiring an additional 1,345 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in AbbVie in the fourth quarter valued at approximately $279,000. Pasadena Private Wealth LLC boosted its holdings in AbbVie by 69.2% in the fourth quarter. Pasadena Private Wealth LLC now owns 2,217 shares of the company’s stock valued at $507,000 after acquiring an additional 907 shares during the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in AbbVie in the fourth quarter valued at approximately $970,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ABBV shares. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a report on Thursday, February 5th. Guggenheim reiterated a “buy” rating and issued a $249.00 target price on shares of AbbVie in a report on Friday, May 1st. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Thursday, April 30th. Evercore set a $235.00 target price on AbbVie in a report on Friday, May 15th. Finally, Barclays began coverage on AbbVie in a report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $253.43.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The U.S. FDA approved AbbVie’s DECNUPAZ (pivekimab sunirine-pvzy) for adults with blastic plasmacytoid dendritic cell neoplasm (BPDCN), an ultra-rare and aggressive blood cancer. This is AbbVie’s first approved antibody-drug conjugate for blood cancer and could open a new revenue stream while strengthening its oncology franchise. Reuters: US FDA approves AbbVie’s rare blood cancer drug
• Positive Sentiment: AbbVie also announced it has launched a first-in-human Phase 1 study for ABBV-1451, signaling continued investment in its early-stage pipeline and potentially expanding future growth options beyond its current blockbuster portfolio. Article reference
• Positive Sentiment: Multiple analysts/commentary pieces highlighted AbbVie’s pipeline strength, with Piper Sandler raising its price target and pointing to progress in inflammatory bowel disease and broader development programs. That reinforces the market’s view that ABBV has room for longer-term growth. Yahoo Finance: Piper Sandler raises price target on AbbVie

Insider Buying and Selling

In related news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the sale, the senior vice president directly owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. This represents a 66.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

AbbVie Stock Up 1.5%

Shares of ABBV opened at $218.66 on Friday. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The business’s fifty day moving average is $208.25 and its 200 day moving average is $219.68. The stock has a market cap of $386.32 billion, a P/E ratio of 107.71, a P/E/G ratio of 0.74 and a beta of 0.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same period last year, the business earned $2.46 EPS. AbbVie’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, analysts expect that AbbVie Inc. will post 14.3 EPS for the current year.

About AbbVie

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.