ABN Amro Investment Solutions grew its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 109.4% during the 4th quarter, Holdings Channel reports. The firm owned 131,412 shares of the company’s stock after buying an additional 68,656 shares during the period. ABN Amro Investment Solutions’ holdings in AbbVie were worth $30,026,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ABBV. Wellington Management Group LLP grew its position in shares of AbbVie by 457.4% in the third 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. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 3,032,438 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of AbbVie by 41.8% in the second quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock valued at $1,733,222,000 after purchasing an additional 2,753,312 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of AbbVie by 31.8% during the third quarter. Alliancebernstein L.P. now owns 7,281,327 shares of the company’s stock valued at $1,685,918,000 after buying an additional 1,758,657 shares during the period. Finally, Amundi lifted its stake in shares of AbbVie by 15.6% during the third quarter. Amundi now owns 10,508,317 shares of the company’s stock valued at $2,418,909,000 after buying an additional 1,414,621 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Stock Down 0.6%
NYSE:ABBV opened at $212.51 on Thursday. The company has a market cap of $375.46 billion, a P/E ratio of 104.69, a P/E/G ratio of 0.74 and a beta of 0.32. AbbVie Inc. has a fifty-two week low of $180.25 and a fifty-two week high of $244.81. The firm’s 50 day moving average is $209.19 and its two-hundred day moving average is $219.73.
Wall Street Analyst Weigh In
ABBV has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, January 21st. Guggenheim reissued a “buy” rating and set a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. William Blair reissued an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Three research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $253.43.
Check Out Our Latest Analysis on AbbVie
Insider Buying and Selling
In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the transaction, the senior vice president owned 2,654 shares of the company’s stock, valued at $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 22,381 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the transaction, the executive vice president directly owned 38,137 shares in the company, valued at approximately $8,771,510. This represents a 36.98% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.06% of the company’s stock.
Key Headlines 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
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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