NewEdge Wealth LLC increased its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 30.6% in the 4th quarter, HoldingsChannel reports. The fund owned 397,677 shares of the company’s stock after purchasing an additional 93,155 shares during the quarter. AbbVie makes up approximately 1.0% of NewEdge Wealth LLC’s holdings, making the stock its 16th biggest holding. NewEdge Wealth LLC’s holdings in AbbVie were worth $90,865,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of AbbVie by 0.3% during the third quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock valued at $41,155,601,000 after acquiring an additional 448,554 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of AbbVie by 17.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,044,690 shares of the company’s stock worth $241,888,000 after acquiring an additional 151,644 shares during the last quarter. Thornburg Investment Management Inc. lifted its holdings in shares of AbbVie by 25.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock worth $93,024,000 after acquiring an additional 81,625 shares during the last quarter. Channing Capital Management LLC boosted its position in shares of AbbVie by 10.5% during the 3rd quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock worth $12,885,000 after purchasing an additional 5,302 shares during the period. Finally, Procyon Advisors LLC boosted its position in shares of AbbVie by 19.9% during the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after purchasing an additional 5,427 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.
Insider Activity
In other news, SVP David Ryan Purdue sold 5,230 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the transaction, the senior vice president directly owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. The trade was a 66.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 22,381 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the sale, the executive vice president owned 38,137 shares in the company, valued at $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is owned by corporate insiders.
More AbbVie News
- Positive Sentiment: AbbVie continued to draw bullish attention after reporting strong first-quarter results, with revenue and earnings coming in ahead of expectations and showing that growth is extending beyond Humira into newer drugs like Skyrizi and Rinvoq. AbbVie Delivers Strong Q1 Earnings Beyond Humira. This Dividend King Still Shines.
- Positive Sentiment: AbbVie completed an early safety study for ABBV-142, which may improve investor confidence in the company’s pipeline and future oncology growth prospects. AbbVie Completes Early Safety Study for ABBV-142, Nudging Pipeline Hopes Higher
- Positive Sentiment: AbbVie and adMare BioInnovations named RIME Therapeutics as a Biotech Innovators Award winner, reinforcing AbbVie’s efforts to support early-stage biotech innovation and build optionality around its pipeline ecosystem. AbbVie (ABBV), adMare BioInnovations Name RIME Therapeutics as Biotech Innovators Award Winner
- Positive Sentiment: Skyrizi ranked ahead of J&J’s Tremfya in April drug ad spending, signaling continued competitive momentum and heavy marketing support for one of AbbVie’s key growth brands. AbbVie’s Skyrizi beats out J&J’s Tremfya in April drug ad spending leaderboard
- Neutral Sentiment: Analyst commentary and Q1 earnings-call recaps highlighted ongoing interest in AbbVie’s post-Humira growth strategy, but these pieces were mostly interpretive rather than new market-moving disclosures. 5 must-read analyst questions from AbbVie’s Q1 earnings call
- Neutral Sentiment: Coverage on SKYRIZI expansion and reimbursement progress in Canada suggests continued international adoption, but the article framed these as part of an already constructive longer-term thesis rather than a single new catalyst. Does Strong Q1 Results And SKYRIZI Expansion Reshape The Bull Case For AbbVie (ABBV)?
- Negative Sentiment: One relative headwind is that ABBV shares have recently traded below key moving averages, reflecting some investor caution even as fundamentals remain solid.
AbbVie Stock Down 0.7%
AbbVie stock opened at $201.24 on Friday. The firm has a market cap of $355.83 billion, a PE ratio of 99.13, a price-to-earnings-growth ratio of 0.70 and a beta of 0.32. AbbVie Inc. has a 52-week low of $176.57 and a 52-week high of $244.81. The company’s 50 day moving average is $213.18 and its two-hundred day moving average is $221.00.
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 911.57%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 14.32 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, April 15th. AbbVie’s payout ratio is presently 340.89%.
Analysts Set New Price Targets
A number of brokerages have issued reports on ABBV. Barclays began coverage on AbbVie in a research report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 target price on the stock. Guggenheim restated a “buy” rating and set a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. Evercore cut their price objective on AbbVie from $232.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley raised their target price on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.90.
View Our Latest Stock Analysis on AbbVie
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.
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