Global Retirement Partners LLC Buys 13,482 Shares of AbbVie Inc. $ABBV

Global Retirement Partners LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,681 shares of the company’s stock after purchasing an additional 13,482 shares during the period. Global Retirement Partners LLC’s holdings in AbbVie were worth $25,289,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Chelsea Counsel Co. bought a new position in AbbVie during the 3rd quarter worth $26,000. Westend Capital Management LLC bought a new position in AbbVie during the 4th quarter worth $29,000. Texas Capital Bancshares Inc TX bought a new position in AbbVie during the 3rd quarter worth $31,000. Legacy Wealth Managment LLC ID boosted its position in AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 73 shares during the last quarter. Finally, WestEnd Advisors LLC boosted its position in AbbVie by 160.4% during the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock valued at $32,000 after acquiring an additional 85 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.6%

Shares of AbbVie stock opened at $212.51 on Thursday. AbbVie Inc. has a 52 week low of $180.25 and a 52 week high of $244.81. The business has a 50 day moving average price of $209.19 and a 200-day moving average price of $219.73. The company has a market cap of $375.46 billion, a PE ratio of 104.69, a price-to-earnings-growth ratio of 0.74 and a beta of 0.32.

AbbVie (NYSE:ABBV) last announced 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. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 14.3 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABBV. Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price objective on shares of AbbVie in a research report on Thursday, April 30th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a research note on Thursday, February 5th. Royal Bank Of Canada initiated 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. Piper Sandler boosted their price objective on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, Guggenheim reissued a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $253.43.

Insiders Place Their Bets

In other news, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the sale, the senior vice president owned 2,654 shares in the company, valued at $619,868.24. This represents a 66.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 22,381 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the sale, the executive vice president owned 38,137 shares of the company’s stock, valued at approximately $8,771,510. This represents a 36.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is owned by insiders.

Key Stories 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.