Eurizon SLJ Capital Ltd Acquires New Holdings in AbbVie Inc. $ABBV

Eurizon SLJ Capital Ltd acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,352 shares of the company’s stock, valued at approximately $766,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Eclectic Associates Inc. ADV raised its stake in AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock valued at $1,337,000 after buying an additional 45 shares during the last quarter. Weil Company Inc. raised its stake in AbbVie by 2.3% in the third quarter. Weil Company Inc. now owns 2,026 shares of the company’s stock valued at $469,000 after buying an additional 46 shares during the last quarter. Hardin Capital Partners LLC raised its stake in AbbVie by 1.4% in the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after buying an additional 46 shares during the last quarter. Dogwood Wealth Management LLC raised its stake in AbbVie by 10.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock valued at $108,000 after buying an additional 46 shares during the last quarter. Finally, Quantum Private Wealth LLC raised its stake in AbbVie by 2.0% in the fourth quarter. Quantum Private Wealth LLC now owns 2,376 shares of the company’s stock valued at $543,000 after buying an additional 46 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ABBV shares. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target for the company in a research note on Thursday, April 30th. 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 note on Thursday, April 30th. UBS Group decreased their price target on AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Finally, Piper Sandler increased their price target on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Three equities research 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.43.

Insider Activity

In other news, SVP David Ryan Purdue sold 5,230 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the transaction, the senior vice president directly owned 2,654 shares in the company, valued at $619,868.24. This trade represents a 66.34% 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. 0.06% of the stock is currently owned by insiders.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie received U.S. FDA approval for DECNUPAZ, its first ADC approved for blood cancer, opening a new potential revenue stream in a highly specialized oncology market. U.S. FDA Approves DECNUPAZTM (pivekimab sunirine-pvzy) for Treatment of Adult Patients with Blastic Plasmacytoid Dendritic Cell Neoplasm, an Ultra-Rare and Aggressive Blood Cancer With Limited Treatment Options
• Positive Sentiment: The European Commission expanded the VENCLYXTO label in untreated CLL, broadening use of an established oncology drug and potentially supporting international sales. AbbVie Announces European Commission Authorization of Expanded Label for VENCLYXTO® (venetoclax) to Include Additional Combinations in Previously Untreated Chronic Lymphocytic Leukemia
• Positive Sentiment: AbbVie advanced ABBV-519 into first-in-human testing, signaling continued momentum in its immunology pipeline. AbbVie Inc. (ABBV) Presents at EU Clinical Trial Regulation: Latest Developments and Upcoming Opportunities Transcript
• Neutral Sentiment: Recent articles note ABBV has outperformed since its last earnings report and remains viewed as reasonably valued by some analysts, but these are more commentary than fresh business catalysts. AbbVie (ABBV) Up 3.5% Since Last Earnings Report: Can It Continue?

AbbVie Stock Down 0.4%

Shares of NYSE:ABBV opened at $217.83 on Friday. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81. The stock has a market cap of $384.85 billion, a price-to-earnings ratio of 107.30, a PEG ratio of 0.75 and a beta of 0.32. The business has a 50-day moving average price of $208.43 and a 200-day moving average price of $219.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same period last year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

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.