5,012 Shares of AbbVie Inc. $ABBV Acquired by MilWealth Group LLC

Key Points

• MilWealth Group initiated a stake in AbbVie, buying 5,012 shares worth approximately $1.31 million in the third quarter. The position represents about 0.3% of its portfolio.
• Institutional investors own 70.23% of AbbVie shares, with several large funds recently adding to or establishing positions.
• AbbVie’s latest quarterly results topped estimates: revenue rose 10.3% year over year to $17.4 billion, and EPS was $3.82. The company also raised its quarterly dividend from $1.73 to $1.82 per share.

MilWealth Group LLC bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,012 shares of the company's stock, valued at approximately $1,311,000. AbbVie comprises approximately 0.3% of MilWealth Group LLC's portfolio, making the stock its 17th largest position.

Several other institutional investors also recently bought and sold shares of ABBV. State Street Corp increased its stake in AbbVie by 1.7% in the 2nd quarter. State Street Corp now owns 82,596,748 shares of the company's stock worth $20,784,646,000 after purchasing an additional 1,379,232 shares during the period. Corient Private Wealth LP bought a new stake in AbbVie in the second quarter valued at approximately $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AbbVie by 0.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company's stock valued at $3,590,323,000 after purchasing an additional 106,091 shares during the period. Legal & General Group Plc purchased a new stake in shares of AbbVie during the second quarter valued at approximately $2,905,952,000. Finally, Deutsche Bank AG boosted its stake in shares of AbbVie by 13.0% during the second quarter. Deutsche Bank AG now owns 10,772,949 shares of the company's stock valued at $2,710,905,000 after purchasing an additional 1,241,587 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

ABBV opened at $288.48 on Friday. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $302.93. The stock has a market capitalization of $509.91 billion, a PE ratio of 49.65, a price-to-earnings-growth ratio of 1.34 and a beta of 0.20. The stock's 50 day moving average price is $271.31 and its 200-day moving average price is $238.65.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The company reported $3.82 EPS for the quarter, topping analysts' consensus estimates of $3.73 by $0.09. AbbVie had a negative return on equity of 450.55% and a net margin of 15.67%. The company had revenue of $17.40 billion during the quarter, compared to analyst estimates of $17.32 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The firm's revenue was up 10.3% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 13.99 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be issued a $1.82 dividend. This is a boost from AbbVie's previous quarterly dividend of $1.73. The ex-dividend date is Friday, January 15th. This represents a $7.28 annualized dividend and a yield of 2.5%. AbbVie's dividend payout ratio (DPR) is currently 119.10%.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the sale, the executive vice president directly owned 74,430 shares of the company's stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Strong results and outlook: AbbVie reported $17.4 billion in third-quarter revenue and raised its full-year adjusted earnings guidance, reinforcing its growth case. The results helped lift shares recently. Article: AbbVie Stock Climbs as Q3 Earnings Fuel Growth Case
• Positive Sentiment: Pipeline expansion: AbbVie licensed global rights to Nxera Pharma’s experimental oral IBD drug NXE0033744, agreeing to pay $100 million upfront and up to $1.37 billion in development and commercial milestones, plus royalties. The deal adds a potential new treatment to its pipeline, though it remains investigational. Article: AbbVie Pens $1.4B Deal for Deprioritized IBD Drug from Nxera
• Positive Sentiment: Constructive investor sentiment: Recent coverage highlights analyst optimism and AbbVie’s defensive appeal as technology stocks retreat; the company has also recently reached a new 52-week high. These factors may support demand, but can also leave the stock vulnerable to a pullback after a strong advance. Article: Are Wall Street Analysts Bullish on AbbVie Stock?
• Neutral Sentiment: Additional R&D investment: AbbVie plans to invest £120 million to expand its Oxford research facility, supporting longer-term drug development but requiring time to translate into commercial returns. Article: AbbVie Invests £120m in UK Expansion
• Negative Sentiment: Oncology setback: AbbVie discontinued a Phase 2 solid-tumor drug program after seeing limited benefit, a reminder that clinical development carries risk and may weigh on expectations for its pipeline. Article: AbbVie Abandons Phase 2 Solid Tumor Drug Over Limited Benefit

Wall Street Analyst Weigh In

Several research analysts recently commented on ABBV shares. The Goldman Sachs Group lifted their target price on shares of AbbVie from $258.00 to $294.00 and gave the stock a "neutral" rating in a research note on Friday, October 23rd. Argus raised their price target on shares of AbbVie from $250.00 to $270.00 in a report on Tuesday, August 4th. BNP Paribas Exane boosted their price objective on shares of AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Leerink Partners upped their price objective on shares of AbbVie from $309.00 to $342.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Wells Fargo & Company increased their target price on shares of AbbVie from $300.00 to $340.00 and gave the stock an "overweight" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average price target of $297.46.

AbbVie Profile

AbbVie Inc NYSE: ABBV is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company's key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.