Capitolis Liquid Global Markets LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 13.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 673,317 shares of the company’s stock after purchasing an additional 82,246 shares during the period. AbbVie accounts for 0.9% of Capitolis Liquid Global Markets LLC’s holdings, making the stock its 24th largest position. Capitolis Liquid Global Markets LLC’s holdings in AbbVie were worth $153,846,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Norges Bank acquired a new stake in AbbVie in the 4th quarter valued at about $5,865,055,000. 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 in the last quarter. Capital World Investors raised its position in AbbVie by 106.3% in the 4th quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after purchasing an additional 6,736,161 shares in the last quarter. Cardano Risk Management B.V. raised its position in AbbVie by 914.6% in the 4th quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock valued at $1,244,112,000 after purchasing an additional 4,908,260 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in AbbVie by 10.4% in 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. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Trading Down 0.6%
NYSE:ABBV opened at $221.25 on Thursday. The firm has a market cap of $390.90 billion, a P/E ratio of 108.99, a PEG ratio of 0.68 and a beta of 0.32. The stock’s 50 day simple moving average is $211.87 and its 200-day simple moving average is $218.85. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81.
Wall Street Analyst Weigh In
A number of research firms have issued reports on ABBV. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Canaccord Genuity Group increased their price target on AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Evercore set a $235.00 price target on AbbVie in a research report on Friday, May 15th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Finally, William Blair reaffirmed 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 stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $253.43.
Get Our Latest Stock Report on ABBV
More AbbVie News
Here are the key news stories impacting AbbVie this week:
- Positive Sentiment: AbbVie presented new Phase 3 data on its fixed-duration venetoclax-based combination at the European Hematology Association Congress, adding to the company’s oncology pipeline credibility and reinforcing the long-term growth case for ABBV. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
- Positive Sentiment: AbbVie also highlighted progress in a late-stage colorectal cancer study for ABBV-400, keeping the drug candidate in the spotlight and signaling that the company still has multiple pipeline catalysts beyond its core immunology franchise. AbbVie’s New Phase 3 Colorectal Cancer Trial Puts ABBV-400 in the Late-Stage Spotlight
- Positive Sentiment: Recent commentary has focused on AbbVie’s strong first-quarter execution, including revenue of about $15.0 billion and raised full-year EPS guidance, which supports the view that the business is performing better than many expected. This $15 Billion Operational Beat Just Rewrote the Entire Bear Thesis for AbbVie
- Neutral Sentiment: Several articles noted that AbbVie remains a widely watched and frequently recommended stock, with investors focusing on analyst sentiment, dividend appeal, and the company’s valuation as they assess whether recent gains can continue. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
- Neutral Sentiment: Broader market coverage also pointed to AbbVie as a possible dividend and defensive healthcare holding, but these pieces were mostly reiterations of the stock’s established investment case rather than new price-moving developments. Brokers Suggest Investing in AbbVie (ABBV): Read This Before Placing a Bet
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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