Foundations Investment Advisors LLC Grows Stock Holdings in AbbVie Inc. $ABBV

Foundations Investment Advisors LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 64.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,529 shares of the company’s stock after buying an additional 17,436 shares during the period. Foundations Investment Advisors LLC’s holdings in AbbVie were worth $10,174,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Godfrey Financial Associates Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $99,000. Thoroughbred Financial Services LLC boosted its position in AbbVie by 1.6% in the fourth quarter. Thoroughbred Financial Services LLC now owns 19,817 shares of the company’s stock valued at $4,528,000 after buying an additional 311 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $46,000. Huntington National Bank boosted its position in AbbVie by 2.5% in the fourth quarter. Huntington National Bank now owns 716,764 shares of the company’s stock valued at $163,773,000 after buying an additional 17,446 shares during the last quarter. Finally, Connecticut Capital Management Group LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $732,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president owned 2,654 shares in the company, valued at approximately $619,868.24. This represents a 66.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ABBV shares. Barclays started coverage on AbbVie in a research report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 target price on the stock. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research report on Thursday, February 5th. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Piper Sandler upped their target price on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, UBS Group dropped their target price on AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Three 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Trading Up 1.5%

AbbVie stock opened at $218.66 on Friday. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81. The stock’s 50 day simple moving average is $208.25 and its two-hundred day simple moving average is $219.68. The firm has a market cap of $386.32 billion, a PE ratio of 107.71, a P/E/G ratio of 0.74 and a beta of 0.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 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 business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 14.3 EPS for the current year.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The U.S. FDA approved AbbVie’s DECNUPAZ (pivekimab sunirine-pvzy) for adults with blastic plasmacytoid dendritic cell neoplasm (BPDCN), an ultra-rare and aggressive blood cancer. This is AbbVie’s first approved antibody-drug conjugate for blood cancer and could open a new revenue stream while strengthening its oncology franchise. Reuters: US FDA approves AbbVie’s rare blood cancer drug
• Positive Sentiment: AbbVie also announced it has launched a first-in-human Phase 1 study for ABBV-1451, signaling continued investment in its early-stage pipeline and potentially expanding future growth options beyond its current blockbuster portfolio. Article reference
• Positive Sentiment: Multiple analysts/commentary pieces highlighted AbbVie’s pipeline strength, with Piper Sandler raising its price target and pointing to progress in inflammatory bowel disease and broader development programs. That reinforces the market’s view that ABBV has room for longer-term growth. Yahoo Finance: Piper Sandler raises price target on AbbVie

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.