Wesbanco Bank Inc. Lowers Stock Position in AbbVie Inc. $ABBV

Wesbanco Bank Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,082 shares of the company’s stock after selling 9,620 shares during the period. Wesbanco Bank Inc.’s holdings in AbbVie were worth $18,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of AbbVie by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after purchasing an additional 3,032,438 shares during the last quarter. Legal & General Group Plc raised its position in shares of AbbVie by 4.3% in the 3rd quarter. Legal & General Group Plc now owns 12,004,084 shares of the company’s stock worth $2,779,426,000 after purchasing an additional 493,420 shares during the last quarter. Wellington Management Group LLP raised its position in shares of AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after purchasing an additional 8,646,424 shares during the last quarter. Amundi raised its position in shares of AbbVie by 15.6% in the 3rd quarter. Amundi now owns 10,508,317 shares of the company’s stock worth $2,418,909,000 after purchasing an additional 1,414,621 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of AbbVie by 4.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 9,675,877 shares of the company’s stock worth $2,241,363,000 after purchasing an additional 408,426 shares during 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 continued to draw bullish attention after reporting strong first-quarter results, with revenue and earnings coming in ahead of expectations and showing that growth is extending beyond Humira into newer drugs like Skyrizi and Rinvoq. AbbVie Delivers Strong Q1 Earnings Beyond Humira. This Dividend King Still Shines.
• Positive Sentiment: AbbVie completed an early safety study for ABBV-142, which may improve investor confidence in the company’s pipeline and future oncology growth prospects. AbbVie Completes Early Safety Study for ABBV-142, Nudging Pipeline Hopes Higher
• Positive Sentiment: AbbVie and adMare BioInnovations named RIME Therapeutics as a Biotech Innovators Award winner, reinforcing AbbVie’s efforts to support early-stage biotech innovation and build optionality around its pipeline ecosystem. AbbVie (ABBV), adMare BioInnovations Name RIME Therapeutics as Biotech Innovators Award Winner
• Positive Sentiment: Skyrizi ranked ahead of J&J’s Tremfya in April drug ad spending, signaling continued competitive momentum and heavy marketing support for one of AbbVie’s key growth brands. AbbVie’s Skyrizi beats out J&J’s Tremfya in April drug ad spending leaderboard
• Neutral Sentiment: Analyst commentary and Q1 earnings-call recaps highlighted ongoing interest in AbbVie’s post-Humira growth strategy, but these pieces were mostly interpretive rather than new market-moving disclosures. 5 must-read analyst questions from AbbVie’s Q1 earnings call
• Neutral Sentiment: Coverage on SKYRIZI expansion and reimbursement progress in Canada suggests continued international adoption, but the article framed these as part of an already constructive longer-term thesis rather than a single new catalyst. Does Strong Q1 Results And SKYRIZI Expansion Reshape The Bull Case For AbbVie (ABBV)?
• Negative Sentiment: One relative headwind is that ABBV shares have recently traded below key moving averages, reflecting some investor caution even as fundamentals remain solid.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ABBV shares. Citigroup lowered their price target on AbbVie from $235.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. Evercore reduced their price objective on AbbVie from $232.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. Barclays began coverage on AbbVie in a report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a report on Friday, May 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $240.00 price objective on shares of AbbVie in a report on Thursday, April 30th. Three investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $252.90.

Insider Transactions at AbbVie

In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the sale, the senior vice president directly owned 2,654 shares in the company, valued at $619,868.24. The trade was a 66.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 22,381 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total value of $5,147,630.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.06% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $201.24 on Friday. AbbVie Inc. has a one year low of $176.57 and a one year high of $244.81. The stock has a 50-day moving average of $213.18 and a 200 day moving average of $221.00. The company has a market capitalization of $355.83 billion, a price-to-earnings ratio of 99.13, a PEG ratio of 0.70 and a beta of 0.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 911.57% and a net margin of 5.79%.The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS. On average, equities analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, April 15th. AbbVie’s payout ratio is currently 340.89%.

AbbVie Company 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.