AbbVie Inc. $ABBV Shares Purchased by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions more than doubled its AbbVie stake in the fourth quarter, increasing holdings by 109.4% to 131,412 shares valued at about $30.0 million.
• AbbVie reported better-than-expected Q1 earnings, posting $2.65 per share versus $2.59 expected and revenue of $15 billion, up 12.4% year over year.
• Investor sentiment is mixed: analysts still largely rate the stock a Moderate Buy, but recent headlines include competitive and regulatory setbacks for key products like Mavyret and Skyrizi.

ABN Amro Investment Solutions increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 109.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,412 shares of the company's stock after purchasing an additional 68,656 shares during the period. ABN Amro Investment Solutions' holdings in AbbVie were worth $30,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company's stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares during the last quarter. Legal & General Group Plc lifted its position in AbbVie by 4.3% in the third quarter. Legal & General Group Plc now owns 12,004,084 shares of the company's stock valued at $2,779,426,000 after acquiring an additional 493,420 shares during the last quarter. Wellington Management Group LLP lifted its position in AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock valued at $2,439,714,000 after acquiring an additional 8,646,424 shares during the last quarter. Amundi lifted its position in AbbVie by 15.6% in the third quarter. Amundi now owns 10,508,317 shares of the company's stock valued at $2,418,909,000 after acquiring an additional 1,414,621 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of AbbVie by 4.4% in the third quarter. Ameriprise Financial Inc. now owns 9,675,877 shares of the company's stock valued at $2,241,363,000 after buying an additional 408,426 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Down 0.6%

NYSE ABBV opened at $212.51 on Thursday. The stock has a market capitalization of $375.46 billion, a P/E ratio of 104.69, a P/E/G ratio of 0.74 and a beta of 0.32. AbbVie Inc. has a 52-week low of $180.25 and a 52-week high of $244.81. The firm has a 50-day moving average price of $209.19 and a 200 day moving average price of $219.73.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s recent earnings call was described as upbeat, highlighting growth during a business transition and reinforcing investor confidence in the company’s earnings power. AbbVie Earnings Call Highlights Growth Amid Transition
• Positive Sentiment: AbbVie continues to screen as an undervalued dividend name in some market commentary, which may support sentiment among income-focused investors. 3 Stocks Estimated To Be Trading Below Intrinsic Value By 11.4% To 38.4%
• Neutral Sentiment: AbbVie has been showing up in stock-screening and “trending stock” coverage, suggesting elevated trader interest rather than a clear fundamental catalyst. Here is What to Know Beyond Why AbbVie Inc. (ABBV) is a Trending Stock
• Neutral Sentiment: Evercore ISI modestly lowered its price target on AbbVie, signaling slightly less enthusiasm, but the move was small and not a major negative revision. AbbVie (ABBV) Price Target Lowered to $235 at Evercore ISI
• Negative Sentiment: AbbVie’s patent effort for its hepatitis C treatment Mavyret was rejected in India, a setback that could limit protection for that product in a large market. AbbVie's Patent Plea for Hepatitis C Therapy Mavyret Rejected in India
• Negative Sentiment: Coverage that Skyrizi lost ground to UCB’s Bimzelx in psoriatic arthritis raises a competitive concern for one of AbbVie’s key immunology growth drivers. AbbVie’s new immunology standard-bearer Skyrizi kneels to UCB’s Bimzelx in psoriatic arthritis

Insider Activity

In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the transaction, the senior vice president directly owned 2,654 shares in the company, valued at approximately $619,868.24. This represents 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 this link. Also, EVP Perry C. Siatis sold 22,381 shares of the company's stock in a transaction dated 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 in the company, valued at $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABBV. Evercore set a $235.00 target price on shares of AbbVie in a report on Friday, May 15th. William Blair reaffirmed an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. BMO Capital Markets reaffirmed an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. Canaccord Genuity Group upped their target price on shares of AbbVie from $262.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $223.00 target price on shares of AbbVie in a report on Wednesday, January 28th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $253.43.

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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