Bridgeway Capital Management LLC Buys 7,453 Shares of AbbVie Inc. $ABBV

Key Points

• Bridgeway Capital Management increased its AbbVie stake by 7.5% in the fourth quarter, buying 7,453 additional shares and bringing its total holding to 106,734 shares worth about $24.4 million.
• AbbVie continues to draw attention from other institutional investors, with several hedge funds also adding shares and institutional ownership standing at 70.23% of the company’s stock.
• The company has been supported by positive pipeline and earnings news, including Phase 3 oncology data, progress on ABBV-400, and a strong first-quarter report that beat estimates and lifted full-year EPS guidance.

Bridgeway Capital Management LLC boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,734 shares of the company's stock after acquiring an additional 7,453 shares during the period. Bridgeway Capital Management LLC's holdings in AbbVie were worth $24,388,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ABBV. Brighton Jones LLC raised its position in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC raised its position in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after acquiring an additional 3,064 shares during the period. Schnieders Capital Management LLC. raised its position in AbbVie by 5.0% in the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock worth $3,056,000 after acquiring an additional 789 shares during the period. Ieq Capital LLC raised its position in AbbVie by 4.6% in the second quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock worth $22,281,000 after acquiring an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its position in AbbVie by 117.3% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock worth $210,685,000 after acquiring an additional 612,702 shares during the period. Institutional investors own 70.23% of the company's stock.

Key Headlines Impacting AbbVie

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

Analyst Ratings Changes

ABBV has been the topic of several research reports. Royal Bank Of Canada initiated coverage on shares of AbbVie in a research report on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 price target on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of AbbVie in a research report on Monday, June 8th. William Blair reissued an "outperform" rating on shares of AbbVie in a research report on Monday, March 9th. Morgan Stanley boosted their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Piper Sandler boosted their price target on shares of AbbVie from $294.00 to $298.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.43.

AbbVie Stock Down 0.6%

NYSE ABBV opened at $221.25 on Thursday. The company's 50 day moving average is $211.87 and its 200-day moving average is $218.85. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The firm has a market cap of $390.90 billion, a P/E ratio of 108.99, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 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 576.45%. AbbVie's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 earnings per share. Equities analysts expect that AbbVie Inc. will post 14.3 EPS for the current 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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