AbbVie Inc. $ABBV Position Increased by MUFG Securities EMEA plc

MUFG Securities EMEA plc raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 114.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,445 shares of the company’s stock after buying an additional 38,632 shares during the period. MUFG Securities EMEA plc’s holdings in AbbVie were worth $16,553,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Bearing Point Capital LLC raised its holdings in AbbVie by 2.1% during the fourth quarter. Bearing Point Capital LLC now owns 14,552 shares of the company’s stock valued at $3,325,000 after buying an additional 306 shares in the last quarter. Texas Yale Capital Corp. raised its holdings in AbbVie by 9.8% during the fourth quarter. Texas Yale Capital Corp. now owns 46,947 shares of the company’s stock valued at $10,727,000 after buying an additional 4,208 shares in the last quarter. Sfmg LLC raised its holdings in AbbVie by 2.8% during the fourth quarter. Sfmg LLC now owns 5,830 shares of the company’s stock valued at $1,332,000 after buying an additional 157 shares in the last quarter. Riverpoint Wealth Management Holdings LLC raised its holdings in AbbVie by 0.7% during the fourth quarter. Riverpoint Wealth Management Holdings LLC now owns 8,662 shares of the company’s stock valued at $1,979,000 after buying an additional 60 shares in the last quarter. Finally, Holderness Investments Co. raised its holdings in AbbVie by 0.6% during the fourth quarter. Holderness Investments Co. now owns 22,003 shares of the company’s stock valued at $5,027,000 after buying an additional 124 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP David Ryan Purdue sold 5,230 shares of AbbVie 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 sale, the senior vice president directly owned 2,654 shares of the company’s stock, valued at $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ABBV shares. Morgan Stanley raised their target price on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Canaccord Genuity Group raised their target price on AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 30th. William Blair reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.43.

Key AbbVie News

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 Performance

AbbVie stock opened at $217.83 on Friday. The business’s 50-day simple moving average is $208.43 and its 200-day simple moving average is $219.66. The firm has a market capitalization of $384.85 billion, a PE ratio of 107.30, a PEG ratio of 0.75 and a beta of 0.32. AbbVie Inc. has a 52 week low of $181.73 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping 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 business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same period last year, the business earned $2.46 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current year.

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.