Advanced Portfolio Management LLC Makes New $1.21 Million Investment in AbbVie Inc. $ABBV

Key Points

• Advanced Portfolio Management LLC opened a new position in AbbVie during the fourth quarter, buying 5,284 shares worth about $1.21 million. AbbVie now represents roughly 3.7% of the firm’s portfolio and is its 11th-largest holding.
• AbbVie reported better-than-expected quarterly results, with EPS of $2.65 versus the $2.59 estimate and revenue of $15 billion versus $14.72 billion expected. Revenue rose 12.4% year over year, and analysts now expect full-year EPS of 14.3.
• Wall Street sentiment remains broadly positive, with Bank of America upgrading AbbVie to buy and several firms maintaining overweight or buy ratings. The stock has an average analyst rating of Moderate Buy and an average price target of $253.43.

Advanced Portfolio Management LLC bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 5,284 shares of the company's stock, valued at approximately $1,207,000. AbbVie makes up about 3.7% of Advanced Portfolio Management LLC's investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors have also recently made changes to their positions in the stock. Chelsea Counsel Co. bought a new stake in shares of AbbVie during the 3rd quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new position in AbbVie in the fourth quarter worth approximately $28,000. Imprint Wealth LLC boosted its holdings in AbbVie by 56.3% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Westend Capital Management LLC bought a new position in AbbVie in the fourth quarter worth approximately $29,000. Finally, IFC & Insurance Marketing Inc. bought a new position in AbbVie in the fourth quarter worth approximately $31,000. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Down 0.6%

Shares of ABBV opened at $221.25 on Thursday. The company has a market capitalization of $390.90 billion, a price-to-earnings ratio of 108.99, a PEG ratio of 0.68 and a beta of 0.32. The stock has a 50 day moving average of $211.87 and a 200 day moving average of $218.85. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ABBV shares. Bank of America upgraded AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 price target on the stock in a report on Thursday, April 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of AbbVie in a report on Monday, June 8th. Morgan Stanley increased their price target on AbbVie from $270.00 to $278.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $240.00 price target on shares of AbbVie in a report on Thursday, April 30th. Finally, Evercore set a $235.00 price objective on AbbVie in a research note on Friday, May 15th. Three research 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 company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $253.43.

Key AbbVie News

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 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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