Evolve Private Wealth LLC Acquires Shares of 11,882 AbbVie Inc. $ABBV

Evolve Private Wealth LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, HoldingsChannel reports. The firm acquired 11,882 shares of the company’s stock, valued at approximately $2,715,000.

Other institutional investors also recently bought and sold shares of the company. Thornburg Investment Management Inc. increased its stake in AbbVie by 25.5% in the third quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock valued at $93,024,000 after purchasing an additional 81,625 shares during the period. Channing Capital Management LLC increased its stake in shares of AbbVie by 10.5% during the third quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock worth $12,885,000 after acquiring an additional 5,302 shares during the period. Procyon Advisors LLC increased its stake in shares of AbbVie by 19.9% during the fourth quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after acquiring an additional 5,427 shares during the period. Woodley Farra Manion Portfolio Management Inc. increased its stake in shares of AbbVie by 358.1% during the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 14,746 shares of the company’s stock worth $3,414,000 after acquiring an additional 11,527 shares during the period. Finally, Waycross Partners LLC increased its stake in shares of AbbVie by 2.9% during the fourth quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock worth $41,694,000 after acquiring an additional 5,063 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 0.6%

Shares of ABBV opened at $221.25 on Thursday. The firm’s 50-day moving average is $211.87 and its two-hundred day moving average is $218.85. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The firm has a market capitalization of $390.90 billion, a P/E ratio of 108.99, a PEG ratio of 0.68 and a beta of 0.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

Key Headlines Impacting 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

Analyst Ratings Changes

A number of research analysts have recently issued reports on ABBV shares. William Blair reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Guggenheim reiterated a “buy” rating and set a $249.00 price target on shares of AbbVie in a research note on Friday, May 1st. Finally, Royal Bank Of Canada started coverage on shares of AbbVie in a research note on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $253.43.

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.