AbbVie Inc. $ABBV Stake Increased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. increased its stake in AbbVie Inc. (NYSE:ABBV) by 66.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,368 shares of the company’s stock after buying an additional 6,130 shares during the period. Hillsdale Investment Management Inc.’s holdings in AbbVie were worth $3,511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zhang Financial LLC increased its stake in AbbVie by 5.0% during the fourth quarter. Zhang Financial LLC now owns 29,260 shares of the company’s stock valued at $6,686,000 after purchasing an additional 1,385 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new stake in AbbVie during the fourth quarter valued at $13,054,000. Marshall & Sterling Wealth Advisors Inc. increased its stake in AbbVie by 12.9% during the fourth quarter. Marshall & Sterling Wealth Advisors Inc. now owns 1,800 shares of the company’s stock valued at $411,000 after purchasing an additional 206 shares during the last quarter. South Street Advisors LLC increased its stake in AbbVie by 10.7% during the fourth quarter. South Street Advisors LLC now owns 13,971 shares of the company’s stock valued at $3,192,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in AbbVie during the fourth quarter valued at $279,000. Institutional investors own 70.23% of the company’s stock.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie received U.S. FDA approval for DECNUPAZ, its first ADC approved for blood cancer, opening a new potential revenue stream in a highly specialized oncology market. U.S. FDA Approves DECNUPAZTM (pivekimab sunirine-pvzy) for Treatment of Adult Patients with Blastic Plasmacytoid Dendritic Cell Neoplasm, an Ultra-Rare and Aggressive Blood Cancer With Limited Treatment Options
• Positive Sentiment: The European Commission expanded the VENCLYXTO label in untreated CLL, broadening use of an established oncology drug and potentially supporting international sales. AbbVie Announces European Commission Authorization of Expanded Label for VENCLYXTO® (venetoclax) to Include Additional Combinations in Previously Untreated Chronic Lymphocytic Leukemia
• Positive Sentiment: AbbVie advanced ABBV-519 into first-in-human testing, signaling continued momentum in its immunology pipeline. AbbVie Inc. (ABBV) Presents at EU Clinical Trial Regulation: Latest Developments and Upcoming Opportunities Transcript
• Neutral Sentiment: Recent articles note ABBV has outperformed since its last earnings report and remains viewed as reasonably valued by some analysts, but these are more commentary than fresh business catalysts. AbbVie (ABBV) Up 3.5% Since Last Earnings Report: Can It Continue?

AbbVie Stock Performance

Shares of NYSE ABBV opened at $217.83 on Monday. The stock has a market cap of $384.85 billion, a price-to-earnings ratio of 107.30, a PEG ratio of 0.75 and a beta of 0.32. The business has a 50 day simple moving average of $208.43 and a 200 day simple moving average of $219.67. AbbVie Inc. has a 52 week low of $181.73 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last announced 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 firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. On average, analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on ABBV. UBS Group lowered their target price on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Barclays assumed coverage on shares of AbbVie in a report on Thursday, February 19th. They set an “overweight” rating and a $275.00 price target for the company. Wall Street Zen raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday. Piper Sandler boosted their price target on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, William Blair reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued 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 $253.43.

Insider Buying and Selling at AbbVie

In other news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

AbbVie Company 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.