AbbVie Inc. $ABBV Shares Bought by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its AbbVie holdings by 30.6% in the fourth quarter, adding 93,155 shares and bringing its total to 397,677 shares worth about $90.9 million.
• AbbVie reported strong first-quarter results, with EPS of $2.65 and revenue of $15 billion, both ahead of expectations and up 12.4% year over year.
• Analyst sentiment remains generally positive, with several firms raising ratings or targets and the stock carrying a Moderate Buy consensus target price of $252.90.

NewEdge Wealth LLC grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 30.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 397,677 shares of the company's stock after buying an additional 93,155 shares during the quarter. AbbVie accounts for 1.0% of NewEdge Wealth LLC's investment portfolio, making the stock its 16th largest position. NewEdge Wealth LLC's holdings in AbbVie were worth $90,865,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Chelsea Counsel Co. acquired a new stake in AbbVie in the 3rd quarter valued at $26,000. Westend Capital Management LLC acquired a new position in AbbVie during the fourth quarter worth $29,000. Texas Capital Bancshares Inc TX purchased a new position in AbbVie during the third quarter valued at $31,000. Legacy Wealth Managment LLC ID lifted its holdings in AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock valued at $31,000 after purchasing an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC grew its position in shares of AbbVie by 160.4% in the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company's stock valued at $32,000 after purchasing an additional 85 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AbbVie news, EVP Perry C. Siatis sold 22,381 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 38,137 shares of the company's stock, valued at approximately $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP David Ryan Purdue sold 5,230 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were 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 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 SEC filing for this sale provides additional information. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. Wall Street Zen raised shares of AbbVie from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Bank of America raised shares of AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 price target on the stock in a research note on Thursday, April 30th. Barclays assumed coverage on AbbVie in a research note on Thursday, February 19th. They set an "overweight" rating and a $275.00 price objective for the company. Citigroup reduced their target price on AbbVie from $235.00 to $230.00 and set a "neutral" rating for the company in a report on Tuesday, January 27th. Finally, Piper Sandler decreased their target price on AbbVie from $299.00 to $294.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Three 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $252.90.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• 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 Trading Down 0.7%

NYSE:ABBV opened at $201.24 on Friday. The company has a market cap of $355.83 billion, a P/E ratio of 99.13, a P/E/G ratio of 0.70 and a beta of 0.32. AbbVie Inc. has a twelve month low of $176.57 and a twelve month high of $244.81. The company's 50-day moving average price is $213.18 and its 200-day moving average price is $221.00.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 911.57%. AbbVie's revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 EPS. On average, analysts expect that AbbVie Inc. will post 14.32 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be given a dividend of $1.73 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.92 dividend on an annualized basis and a yield of 3.4%. AbbVie's dividend payout ratio (DPR) is presently 340.89%.

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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