Choate Investment Advisors Has $16.32 Million Position in AbbVie Inc. $ABBV

Key Points

• Choate Investment Advisors trimmed its AbbVie stake by 8.4% in the fourth quarter, though it still held 71,414 shares valued at about $16.3 million at quarter-end.
• Recent analyst actions were mostly positive: several firms reiterated buy or outperform ratings, and the stock now carries a consensus Moderate Buy with a target price of $253.43.
• AbbVie continues to show operational momentum, with its latest quarter beating expectations on EPS and revenue, while new developments in its MAVIRET, aesthetics, and oncology pipelines may support future growth.

Choate Investment Advisors lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,414 shares of the company's stock after selling 6,525 shares during the period. Choate Investment Advisors' holdings in AbbVie were worth $16,317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Eclectic Associates Inc. ADV boosted its stake in AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company's stock valued at $1,337,000 after acquiring an additional 45 shares during the last quarter. Weil Company Inc. boosted its stake in AbbVie by 2.3% in the third quarter. Weil Company Inc. now owns 2,026 shares of the company's stock valued at $469,000 after acquiring an additional 46 shares during the last quarter. Hardin Capital Partners LLC boosted its stake in AbbVie by 1.4% in the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company's stock valued at $759,000 after acquiring an additional 46 shares during the last quarter. Dogwood Wealth Management LLC boosted its stake in AbbVie by 10.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company's stock valued at $108,000 after acquiring an additional 46 shares during the last quarter. Finally, Quantum Private Wealth LLC boosted its stake in AbbVie by 2.0% in the fourth quarter. Quantum Private Wealth LLC now owns 2,376 shares of the company's stock valued at $543,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. DZ Bank raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. William Blair reaffirmed an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. UBS Group reduced their price objective on shares of AbbVie from $240.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $223.00 price objective on shares of AbbVie in a research note on Wednesday, January 28th. Three equities 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

Insiders Place Their Bets

In other news, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction on 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 of the company's stock, valued at $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 22,381 shares of AbbVie 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 directly owned 38,137 shares in the company, valued at approximately $8,771,510. This represents a 36.98% 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.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie received a positive opinion from the European Medicines Agency’s CHMP for MAVIRET in acute hepatitis C, a potential label expansion that could broaden the drug’s commercial opportunity in Europe. Article Title
• Positive Sentiment: Allergan Aesthetics, an AbbVie company, also secured a positive CHMP opinion for Boey, adding another potential European growth catalyst for AbbVie’s aesthetics business. Article Title
• Positive Sentiment: AbbVie highlighted new oncology data at ASCO 2026, signaling continued momentum across its next-generation cancer pipeline and supporting longer-term growth expectations. Article Title
• Positive Sentiment: Analyst and media commentary remained constructive, with pieces calling AbbVie a strong dividend pick and a long-term buy, which can reinforce investor confidence in the stock. Article Title
• Neutral Sentiment: AbbVie plans 85 summer layoffs in California tied to its Allergan Aesthetics unit, a cost-cutting move that may draw attention but is not large enough on its own to materially change the investment case. Article Title

AbbVie Stock Up 0.1%

Shares of NYSE ABBV opened at $216.02 on Monday. The company's fifty day moving average is $208.72 and its 200-day moving average is $219.73. The stock has a market cap of $381.65 billion, a price-to-earnings ratio of 106.41, a P/E/G ratio of 0.74 and a beta of 0.32. AbbVie Inc. has a twelve month low of $181.71 and a twelve month high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.06. The company had revenue of $15 billion for 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%. The business's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. On average, 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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