6,138 AbbVie Inc. $ABBV Shares Bought by Northeast Investment Management

Northeast Investment Management increased its stake in AbbVie Inc. (NYSE:ABBV) by 51.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,175 shares of the company’s stock after acquiring an additional 6,138 shares during the period. Northeast Investment Management’s holdings in AbbVie were worth $4,754,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in AbbVie by 1.7% during the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after purchasing an additional 1,379,232 shares during the last quarter. Corient Private Wealth LP purchased a new position in shares of AbbVie in the 2nd quarter worth about $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AbbVie by 0.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock valued at $3,590,323,000 after purchasing an additional 106,091 shares during the last quarter. Legal & General Group Plc bought a new position in shares of AbbVie during the 2nd quarter valued at about $2,905,952,000. Finally, Deutsche Bank AG raised its holdings in shares of AbbVie by 13.0% during the 2nd quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock valued at $2,710,905,000 after buying an additional 1,241,587 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 2.9%

Shares of NYSE:ABBV opened at $294.15 on Thursday. The stock’s 50-day moving average price is $270.80 and its 200-day moving average price is $238.28. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $298.74. The stock has a market capitalization of $519.71 billion, a P/E ratio of 50.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.20.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. The company had revenue of $17.40 billion during the quarter, compared to analyst estimates of $17.32 billion. AbbVie had a negative return on equity of 435.41% and a net margin of 15.67%. AbbVie’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 EPS. As a group, research analysts predict that AbbVie Inc. will post 13.99 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be paid a $1.82 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.73. The ex-dividend date of this dividend is Friday, January 15th. This represents a $7.28 dividend on an annualized basis and a yield of 2.5%. AbbVie’s payout ratio is presently 125.30%.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the sale, the executive vice president owned 74,430 shares in the company, valued at approximately $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie secured global rights to Nxera’s investigational oral IBD drug NXE0033744. The deal includes $100 million upfront, up to $1.37 billion in development and commercial milestones, and tiered royalties. The agreement could strengthen AbbVie’s future immunology pipeline, but milestone payments depend on development and commercial progress. Nxera licensing agreement
• Positive Sentiment: Several analysts raised their AbbVie price targets, adding to a favorable near-term outlook. Morgan Stanley price target update
• Positive Sentiment: AbbVie expanded its Oxford research facility as part of an investment exceeding £120 million, supporting longer-term research in immunology, neurology and oncology. Reuters report on Oxford R&D expansion
• Neutral Sentiment: Updated full-year revenue guidance of $67.8 billion is slightly above consensus, while projected EPS of $13.95–$13.99 is broadly in line. Fourth-quarter revenue guidance also edged above expectations, but EPS guidance of $3.83–$3.87 is below the $3.89 consensus. AbbVie outlook and valuation
• Negative Sentiment: AbbVie discontinued a Phase 2 solid-tumor drug program after seeing “limited benefit,” a setback for that part of its pipeline. Report on discontinued drug program

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABBV. Cantor Fitzgerald boosted their target price on AbbVie from $290.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup increased their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Argus increased their price target on shares of AbbVie from $250.00 to $270.00 in a research report on Tuesday, August 4th. Morgan Stanley lifted their price target on shares of AbbVie from $310.00 to $346.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company boosted their price objective on shares of AbbVie from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $297.46.

AbbVie Company Profile

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company’s key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.