Fideuram Asset Management Ireland dac Takes Position in AbbVie Inc. $ABBV

Key Points

• Fideuram Asset Management Ireland dac opened a new position in AbbVie during the fourth quarter, buying 61,251 shares worth about $13.05 million. AbbVie now ranks as the firm’s 22nd-largest holding and makes up roughly 1% of its portfolio.
• Institutional ownership remains heavy, with hedge funds and other investors continuing to add to AbbVie positions. The article notes that institutions own 70.23% of the company’s stock.
• AbbVie’s latest earnings topped expectations, reporting $2.65 EPS on $15 billion in revenue, while analysts currently rate the stock a Moderate Buy with a consensus price target of $253.43.

Fideuram Asset Management Ireland dac purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 61,251 shares of the company's stock, valued at approximately $13,054,000. AbbVie makes up about 1.0% of Fideuram Asset Management Ireland dac's investment portfolio, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company's stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock valued at $10,179,099,000 after purchasing an additional 4,190,487 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of AbbVie by 1.1% during the 4th quarter. Legal & General Group Plc now owns 12,133,331 shares of the company's stock valued at $2,772,345,000 after purchasing an additional 129,247 shares in the last quarter. Wellington Management Group LLP raised its holdings in AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock worth $2,439,714,000 after acquiring an additional 8,646,424 shares during the period. Finally, Amundi raised its holdings in AbbVie by 15.6% in the 3rd quarter. Amundi now owns 10,508,317 shares of the company's stock worth $2,418,909,000 after acquiring an additional 1,414,621 shares during the period. Institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ABBV shares. UBS Group decreased their price target on shares of AbbVie from $240.00 to $230.00 and set a "neutral" rating for the company in a report on Thursday, February 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $240.00 price objective on shares of AbbVie in a research note on Thursday, April 30th. William Blair restated an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. Canaccord Genuity Group raised their target price on AbbVie from $262.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Barclays initiated coverage on AbbVie in a research report on Thursday, February 19th. They issued an "overweight" rating and a $275.00 price target on the stock. Three 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $253.43.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The U.S. FDA approved AbbVie’s DECNUPAZ (pivekimab sunirine-pvzy) for adults with blastic plasmacytoid dendritic cell neoplasm (BPDCN), an ultra-rare and aggressive blood cancer. This is AbbVie’s first approved antibody-drug conjugate for blood cancer and could open a new revenue stream while strengthening its oncology franchise. Reuters: US FDA approves AbbVie's rare blood cancer drug
• Positive Sentiment: AbbVie also announced it has launched a first-in-human Phase 1 study for ABBV-1451, signaling continued investment in its early-stage pipeline and potentially expanding future growth options beyond its current blockbuster portfolio. Article reference
• Positive Sentiment: Multiple analysts/commentary pieces highlighted AbbVie’s pipeline strength, with Piper Sandler raising its price target and pointing to progress in inflammatory bowel disease and broader development programs. That reinforces the market’s view that ABBV has room for longer-term growth. Yahoo Finance: Piper Sandler raises price target on AbbVie

Insiders Place Their Bets

In related 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 value of $1,221,518.80. Following the sale, the senior vice president owned 2,654 shares of the company's stock, valued at $619,868.24. The trade was a 66.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

AbbVie Stock Up 1.5%

NYSE ABBV opened at $218.66 on Friday. The stock has a market cap of $386.32 billion, a P/E ratio of 107.71, a PEG ratio of 0.74 and a beta of 0.32. The company's 50-day simple moving average is $208.25 and its 200 day simple moving average is $219.68. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.06. The business 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 firm's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 earnings per share. Research analysts anticipate that AbbVie Inc. will post 14.3 earnings per share 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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