Foundations Investment Advisors LLC Buys 17,436 Shares of AbbVie Inc. $ABBV

Key Points

• Foundations Investment Advisors LLC increased its AbbVie stake by 64.4% in the fourth quarter, buying 17,436 additional shares and bringing its total position to 44,529 shares worth about $10.17 million.
• AbbVie continues to attract generally positive analyst attention, with a consensus rating of Moderate Buy and an average price target of $253.43. Several firms recently reiterated or raised ratings on the stock, though one downgrade occurred.
• The company’s latest earnings beat expectations, as AbbVie reported $2.65 EPS on revenue of $15 billion, both ahead of estimates. Recent headlines also point to pipeline momentum, including FDA approval of a rare blood cancer treatment and the start of a Phase 1 study for ABBV-1451.

Foundations Investment Advisors LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 64.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,529 shares of the company's stock after buying an additional 17,436 shares during the period. Foundations Investment Advisors LLC's holdings in AbbVie were worth $10,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chelsea Counsel Co. purchased a new position in shares of AbbVie in the third quarter valued at $26,000. Westend Capital Management LLC purchased a new position in AbbVie during the fourth quarter worth $29,000. Texas Capital Bancshares Inc TX purchased a new position in AbbVie during the third quarter worth $31,000. Legacy Wealth Managment LLC ID boosted its stake in AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock worth $31,000 after buying an additional 73 shares during the period. Finally, WestEnd Advisors LLC boosted its stake in AbbVie by 160.4% during the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company's stock worth $32,000 after buying an additional 85 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent analyst reports. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 17th. 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. BMO Capital Markets reaffirmed an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Royal Bank Of Canada initiated coverage on shares of AbbVie in a research note on Tuesday, February 24th. They set an "outperform" rating and a $260.00 price objective for the company. Three equities 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. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average 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

Insider Activity at AbbVie

In other news, 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 value of $1,221,518.80. Following the completion of the sale, the senior vice president owned 2,654 shares in the company, valued at approximately $619,868.24. The trade was a 66.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

AbbVie Trading Up 1.5%

NYSE:ABBV opened at $218.66 on Friday. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The company has a market cap of $386.32 billion, a price-to-earnings ratio of 107.71, a price-to-earnings-growth ratio of 0.74 and a beta of 0.32. The stock has a fifty day simple moving average of $208.25 and a 200-day simple moving average of $219.68.

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

AbbVie Company 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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