Aspen Investment Management Inc Has $2.92 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Aspen Investment Management increased its AbbVie stake by 123% in the fourth quarter, ending with 12,777 shares worth about $2.92 million. AbbVie now represents roughly 0.9% of Aspen’s portfolio.
• AbbVie’s latest quarterly results were solid, with EPS of $2.65 beating estimates and revenue of $15 billion topping expectations, while sales rose 12.4% year over year. Analysts still expect full-year EPS of 14.3.
• Sentiment around AbbVie is mixed: analysts generally rate it a Moderate Buy, but recent headlines include a lowered price target, an India patent setback for Mavyret, and competitive pressure on Skyrizi in psoriatic arthritis.

Aspen Investment Management Inc lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 123.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,777 shares of the company's stock after buying an additional 7,047 shares during the quarter. AbbVie comprises approximately 0.9% of Aspen Investment Management Inc's holdings, making the stock its 25th biggest position. Aspen Investment Management Inc's holdings in AbbVie were worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chelsea Counsel Co. bought a new position in shares of AbbVie in the third quarter valued at $26,000. Westend Capital Management LLC bought a new position in shares of AbbVie in the fourth quarter valued at $29,000. Texas Capital Bancshares Inc TX bought a new position in shares of AbbVie in the third quarter valued at $31,000. Legacy Wealth Managment LLC ID grew its stake in shares of AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock valued at $31,000 after buying an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC grew its stake 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 buying an additional 85 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of AbbVie in a research note on Wednesday, January 21st. Barclays initiated coverage on shares of AbbVie in a research note on Thursday, February 19th. They issued an "overweight" rating and a $275.00 target price for the company. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Canaccord Genuity Group raised their target price on shares of AbbVie from $262.00 to $265.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada started coverage on shares of AbbVie in a research note on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $253.43.

Insiders Place Their Bets

In other AbbVie news, EVP Perry C. Siatis sold 22,381 shares of AbbVie stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the transaction, the executive vice president directly owned 38,137 shares of the company's stock, valued at $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David Ryan Purdue sold 5,230 shares of the business'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 completion of the sale, the senior vice president directly owned 2,654 shares of the company's stock, valued at approximately $619,868.24. The trade was a 66.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.06% of the company's stock.

AbbVie Price Performance

ABBV stock opened at $212.51 on Thursday. The company has a fifty day moving average price of $209.19 and a two-hundred day moving average price of $219.73. AbbVie Inc. has a one year low of $180.25 and a one year high of $244.81. The stock has a market cap of $375.46 billion, a price-to-earnings ratio of 104.69, a price-to-earnings-growth ratio of 0.74 and a beta of 0.32.

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

About AbbVie

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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