Income Insurance Ltd Invests $1.24 Million in AbbVie Inc. $ABBV

Key Points

• Income Insurance Ltd opened a new position in AbbVie during the fourth quarter, buying 5,414 shares worth about $1.24 million. The stake makes AbbVie its 19th-largest holding and represents roughly 0.8% of its portfolio.
• Institutional ownership of AbbVie remains heavy, with hedge funds and other institutions holding about 70.23% of the stock. Several large investors, including Vanguard and Wellington Management, also increased their positions recently.
• AbbVie posted strong first-quarter results, beating earnings and revenue estimates, while analysts maintain a Moderate Buy consensus with an average price target of $252.90. The company also pays a quarterly dividend of $1.73 per share, equal to a 3.4% annualized yield.

Income Insurance Ltd acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,414 shares of the company's stock, valued at approximately $1,237,000. AbbVie comprises about 0.8% of Income Insurance Ltd's holdings, making the stock its 19th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in AbbVie by 1.7% in 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 during the last quarter. Legal & General Group Plc raised its position in AbbVie by 4.3% in the 3rd quarter. Legal & General Group Plc now owns 12,004,084 shares of the company's stock valued at $2,779,426,000 after purchasing an additional 493,420 shares during the last quarter. Wellington Management Group LLP raised its position in AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock valued at $2,439,714,000 after purchasing an additional 8,646,424 shares during the last quarter. Amundi raised its position in AbbVie by 15.6% in the 3rd quarter. Amundi now owns 10,508,317 shares of the company's stock valued at $2,418,909,000 after purchasing an additional 1,414,621 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in AbbVie by 4.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 9,675,877 shares of the company's stock valued at $2,241,363,000 after purchasing an additional 408,426 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group reduced their price target on shares of AbbVie from $240.00 to $230.00 and set a "neutral" rating for the company in a research report on Thursday, February 5th. Guggenheim reiterated a "buy" rating and issued a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. Piper Sandler reduced their price target on shares of AbbVie from $299.00 to $294.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Evercore reduced their price target on shares of AbbVie from $232.00 to $228.00 and set an "outperform" rating for the company in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada assumed coverage on shares of AbbVie in a research report on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $252.90.

Insider Transactions at AbbVie

In related news, SVP David Ryan Purdue sold 5,230 shares of the 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 directly owned 2,654 shares of the company's stock, valued at approximately $619,868.24. This represents a 66.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 22,381 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the sale, the executive vice president directly owned 38,137 shares in the company, valued at approximately $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.06% of the stock is currently owned by corporate insiders.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie continued to draw bullish attention after reporting strong first-quarter results, with revenue and earnings coming in ahead of expectations and showing that growth is extending beyond Humira into newer drugs like Skyrizi and Rinvoq. AbbVie Delivers Strong Q1 Earnings Beyond Humira. This Dividend King Still Shines.
• Positive Sentiment: AbbVie completed an early safety study for ABBV-142, which may improve investor confidence in the company’s pipeline and future oncology growth prospects. AbbVie Completes Early Safety Study for ABBV-142, Nudging Pipeline Hopes Higher
• Positive Sentiment: AbbVie and adMare BioInnovations named RIME Therapeutics as a Biotech Innovators Award winner, reinforcing AbbVie’s efforts to support early-stage biotech innovation and build optionality around its pipeline ecosystem. AbbVie (ABBV), adMare BioInnovations Name RIME Therapeutics as Biotech Innovators Award Winner
• Positive Sentiment: Skyrizi ranked ahead of J&J’s Tremfya in April drug ad spending, signaling continued competitive momentum and heavy marketing support for one of AbbVie’s key growth brands. AbbVie’s Skyrizi beats out J&J’s Tremfya in April drug ad spending leaderboard
• Neutral Sentiment: Analyst commentary and Q1 earnings-call recaps highlighted ongoing interest in AbbVie’s post-Humira growth strategy, but these pieces were mostly interpretive rather than new market-moving disclosures. 5 must-read analyst questions from AbbVie’s Q1 earnings call
• Neutral Sentiment: Coverage on SKYRIZI expansion and reimbursement progress in Canada suggests continued international adoption, but the article framed these as part of an already constructive longer-term thesis rather than a single new catalyst. Does Strong Q1 Results And SKYRIZI Expansion Reshape The Bull Case For AbbVie (ABBV)?
• Negative Sentiment: One relative headwind is that ABBV shares have recently traded below key moving averages, reflecting some investor caution even as fundamentals remain solid.

AbbVie Stock Down 0.7%

NYSE:ABBV opened at $201.24 on Friday. AbbVie Inc. has a fifty-two week low of $176.57 and a fifty-two week high of $244.81. The stock has a market cap of $355.83 billion, a PE ratio of 99.13, a price-to-earnings-growth ratio of 0.70 and a beta of 0.32. The firm's fifty day simple moving average is $213.18 and its 200-day simple moving average is $221.00.

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 analysts' consensus estimates of $2.59 by $0.06. The firm 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 911.57%. The firm's revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.46 EPS. Equities analysts anticipate that AbbVie Inc. will post 14.32 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, April 15th. AbbVie's dividend payout ratio is presently 340.89%.

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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