Global Retirement Partners LLC Has $25.29 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Global Retirement Partners LLC increased its AbbVie stake by 13.9% in the fourth quarter, bringing its holdings to 110,681 shares worth about $25.29 million.
• AbbVie’s latest quarterly results topped expectations, with EPS of $2.65 versus the $2.59 estimate and revenue of $15 billion, up 12.4% year over year.
• Analyst sentiment remains generally positive: the stock has a Moderate Buy consensus rating and an average price target of $253.43, though some firms recently trimmed targets slightly.

Global Retirement Partners LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,681 shares of the company's stock after acquiring an additional 13,482 shares during the period. Global Retirement Partners LLC's holdings in AbbVie were worth $25,289,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Great Diamond Partners LLC grew its position in AbbVie by 1.2% during the fourth quarter. Great Diamond Partners LLC now owns 9,935 shares of the company's stock worth $2,270,000 after buying an additional 118 shares in the last quarter. Mach 1 Financial Group LLC grew its position in AbbVie by 180.1% during the fourth quarter. Mach 1 Financial Group LLC now owns 9,034 shares of the company's stock worth $2,064,000 after buying an additional 5,809 shares in the last quarter. Prevail Innovative Wealth Advisors LLC grew its position in AbbVie by 8.0% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 7,162 shares of the company's stock worth $1,636,000 after buying an additional 533 shares in the last quarter. Cypress Capital LLC grew its position in AbbVie by 1.3% during the fourth quarter. Cypress Capital LLC now owns 15,055 shares of the company's stock worth $3,440,000 after buying an additional 192 shares in the last quarter. Finally, Shakespeare Wealth Management LLC grew its position in AbbVie by 39.7% during the fourth quarter. Shakespeare Wealth Management LLC now owns 2,011 shares of the company's stock worth $459,000 after buying an additional 572 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. Morgan Stanley increased their price target on AbbVie from $270.00 to $278.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Canaccord Genuity Group increased their price target on AbbVie from $262.00 to $265.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Citigroup reduced their price target on AbbVie from $235.00 to $230.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 27th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of AbbVie in a research report on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $253.43.

AbbVie Trading Down 0.6%

NYSE:ABBV opened at $212.51 on Thursday. The stock's 50-day moving average is $209.19 and its 200-day moving average is $219.73. AbbVie Inc. has a 1-year low of $180.25 and a 1-year high of $244.81. The stock has a market cap of $375.46 billion, a P/E 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 issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating 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 business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same quarter last year, the business earned $2.46 EPS. The firm's quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 14.3 EPS for the current year.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 22,381 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total value of $5,147,630.00. Following the sale, the executive vice president 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction on 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 of the company's stock, valued at $619,868.24. The trade was a 66.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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’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

AbbVie 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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