SmartHarvest Portfolios LLC Buys Shares of 9,927 AbbVie Inc. $ABBV

Key Points

• SmartHarvest Portfolios LLC opened a new position in AbbVie during the fourth quarter, buying 9,927 shares valued at about $2.27 million. The stake represents roughly 0.8% of its portfolio and is its 18th-largest holding.
• AbbVie continues to attract major institutional support, with large investors such as Vanguard, Geode Capital Management, and Norges Bank adding to or initiating positions. Institutional ownership now stands at 70.23% of shares outstanding.
• Recent headlines were mixed but leaned positive: analysts highlighted Skyrizi and Rinvoq as key growth drivers and several firms raised price targets, while AbbVie also faced a FDA Complete Response Letter for TrenibotE that delays the program due to manufacturing issues.

SmartHarvest Portfolios LLC bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,927 shares of the company's stock, valued at approximately $2,268,000. AbbVie accounts for approximately 0.8% of SmartHarvest Portfolios LLC's portfolio, making the stock its 18th biggest position.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company's stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares during the period. Geode Capital Management LLC raised its stake in shares of AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock worth $10,179,099,000 after buying an additional 4,190,487 shares during the period. Norges Bank bought a new position in shares of AbbVie in the fourth quarter worth about $5,865,055,000. Capital Research Global Investors raised its stake in shares of AbbVie by 0.7% in the fourth quarter. Capital Research Global Investors now owns 25,408,200 shares of the company's stock worth $5,805,530,000 after buying an additional 177,370 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of AbbVie by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 14,881,504 shares of the company's stock worth $3,400,274,000 after buying an additional 330,104 shares during the period. Institutional investors own 70.23% of the company's stock.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Analysts and media coverage highlighted AbbVie’s Skyrizi and Rinvoq as key growth drivers, noting strong first-quarter performance and the potential for continued sales momentum through 2026, including additional indications. Will Skyrizi & Rinvoq Continue to Drive AbbVie's Topline Through 2026?
• Positive Sentiment: Another market commentary framed AbbVie as a growth-pharma stock at a value-pharma price, reinforcing the view that its earnings growth and pipeline may justify the valuation. AbbVie: Growth-Pharma Profile At A Value-Pharma Price
• Positive Sentiment: AbbVie was also featured on CNBC’s “Final Trades”, which can support investor sentiment by keeping the stock in the market spotlight. AbbVie, Devon Energy and more on CNBC's 'Final Trades'
• Neutral Sentiment: Several pieces described AbbVie as a stock worth watching or holding after a strong run, with valuation and balance-sheet concerns tempering enthusiasm but not signaling a major change in the business outlook. Up 45% Since 2024: 1 Glaring Reality That Makes AbbVie Stock a Hold at $225
• Negative Sentiment: AbbVie also faced a FDA Complete Response Letter for its fast-acting neurotoxin TrenibotE, citing manufacturing-related issues. While the letter reportedly raised no safety or efficacy concerns, it delays the program and adds near-term regulatory uncertainty. FDA Issues Complete Response Letter for AbbVie’s Fast-Acting Neurotoxin TrenibotE; Spokane dermatologist Dr. Philip Werschler on What the Letter Means

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABBV. Piper Sandler raised their price objective on AbbVie from $294.00 to $298.00 and gave the stock an "overweight" rating in a research note on Thursday, May 14th. Morgan Stanley raised their price objective on AbbVie from $270.00 to $278.00 and gave the stock an "overweight" 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. Royal Bank Of Canada began coverage on AbbVie in a research note on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 price objective on the stock. Finally, DZ Bank raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $253.43.

AbbVie Trading Up 0.0%

Shares of ABBV opened at $225.04 on Friday. The business's 50 day moving average is $210.80 and its 200 day moving average is $219.01. The company has a market capitalization of $397.60 billion, a PE ratio of 110.86, a price-to-earnings-growth ratio of 0.69 and a beta of 0.32. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81.

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