Bridgeway Capital Management LLC Raises Stock Position in AbbVie Inc. $ABBV

Bridgeway Capital Management LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 106,734 shares of the company’s stock after purchasing an additional 7,453 shares during the period. Bridgeway Capital Management LLC’s holdings in AbbVie were worth $24,388,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ABBV. Brighton Jones LLC grew its stake in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after buying an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after buying an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in AbbVie by 5.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after buying an additional 789 shares in the last quarter. Ieq Capital LLC grew its stake in AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after buying an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in AbbVie by 117.3% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after buying an additional 612,702 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Trending Headlines about AbbVie

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

Analysts Set New Price Targets

A number of equities analysts have commented on ABBV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price target on shares of AbbVie in a research note on Thursday, April 30th. Canaccord Genuity Group boosted their price target on shares of AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Piper Sandler boosted their price target on shares of AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Finally, Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Three 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

AbbVie Trading Down 0.6%

Shares of NYSE:ABBV opened at $221.25 on Thursday. The stock’s 50-day moving average price is $211.87 and its 200-day moving average price is $218.85. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The stock has a market capitalization of $390.90 billion, a P/E ratio of 108.99, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $14.72 billion. During the same period last year, the firm earned $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, research analysts predict that AbbVie Inc. will post 14.3 EPS for the current 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.