19,017 Shares in AbbVie Inc. $ABBV Acquired by Asset One Wealth Management LLC

Key Points

• Asset One Wealth Management opened a new position in AbbVie, buying 19,017 shares worth about $4.29 million in the fourth quarter.
• Several other institutional investors also increased their AbbVie holdings, and institutions now own 70.23% of the company’s stock.
• AbbVie recently beat quarterly expectations with $2.65 EPS on $15 billion in revenue, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $253.43.

Asset One Wealth Management LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 19,017 shares of the company's stock, valued at approximately $4,291,000.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock valued at $3,056,000 after purchasing an additional 789 shares in the last quarter. Ieq Capital LLC increased its stake in AbbVie by 4.6% during the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock valued at $22,281,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its stake in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock valued at $210,685,000 after purchasing an additional 612,702 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

ABBV stock opened at $221.25 on Thursday. The firm has a market cap of $390.90 billion, a PE ratio of 108.99, a P/E/G ratio of 0.68 and a beta of 0.32. The firm's fifty day moving average is $211.87 and its 200 day moving average is $218.85. AbbVie Inc. has a one year low of $181.73 and a one year high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm's revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business earned $2.46 earnings per share. Research analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ABBV shares. Piper Sandler upped their price target on shares of AbbVie from $294.00 to $298.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 7th. Cantor Fitzgerald restated an "overweight" rating and set a $240.00 price target on shares of AbbVie in a research note on Thursday, April 30th. Guggenheim reiterated a "buy" rating and issued a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Finally, Evercore set a $235.00 price objective on shares of AbbVie in a research note on Friday, May 15th. Three equities 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $253.43.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie presented new Phase 3 data on its fixed-duration venetoclax-based combination at the European Hematology Association Congress, adding to the company’s oncology pipeline credibility and reinforcing the long-term growth case for ABBV. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Positive Sentiment: AbbVie also highlighted progress in a late-stage colorectal cancer study for ABBV-400, keeping the drug candidate in the spotlight and signaling that the company still has multiple pipeline catalysts beyond its core immunology franchise. AbbVie’s New Phase 3 Colorectal Cancer Trial Puts ABBV-400 in the Late-Stage Spotlight
• Positive Sentiment: Recent commentary has focused on AbbVie’s strong first-quarter execution, including revenue of about $15.0 billion and raised full-year EPS guidance, which supports the view that the business is performing better than many expected. This $15 Billion Operational Beat Just Rewrote the Entire Bear Thesis for AbbVie
• Neutral Sentiment: Several articles noted that AbbVie remains a widely watched and frequently recommended stock, with investors focusing on analyst sentiment, dividend appeal, and the company’s valuation as they assess whether recent gains can continue. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Broader market coverage also pointed to AbbVie as a possible dividend and defensive healthcare holding, but these pieces were mostly reiterations of the stock’s established investment case rather than new price-moving developments. Brokers Suggest Investing in AbbVie (ABBV): Read This Before Placing a Bet

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.

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