Texas Yale Capital Corp. Has $10.73 Million Stock Position in AbbVie Inc. $ABBV

Texas Yale Capital Corp. increased its position in AbbVie Inc. (NYSE:ABBV) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,947 shares of the company’s stock after purchasing an additional 4,208 shares during the quarter. Texas Yale Capital Corp.’s holdings in AbbVie were worth $10,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in AbbVie by 1.7% in the fourth 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 period. Geode Capital Management LLC grew its position in shares of AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after buying an additional 4,190,487 shares during the period. Norges Bank acquired a new position in shares of AbbVie during the 4th quarter worth about $5,865,055,000. Legal & General Group Plc grew its position in shares of AbbVie by 1.1% during the 4th quarter. Legal & General Group Plc now owns 12,133,331 shares of the company’s stock worth $2,772,345,000 after buying an additional 129,247 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after buying an additional 8,646,424 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other 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 transaction, the senior vice president 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 at this hyperlink. 0.06% of the stock is owned by company insiders.

AbbVie Price Performance

NYSE:ABBV opened at $217.83 on Friday. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81. The stock has a market capitalization of $384.85 billion, a PE ratio of 107.30, a price-to-earnings-growth ratio of 0.75 and a beta of 0.32. The business’s 50-day simple moving average is $208.43 and its 200-day simple moving average is $219.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $14.72 billion. During the same quarter in the previous year, the business posted $2.46 EPS. AbbVie’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ABBV shares. Evercore set a $235.00 target price on AbbVie in a research report on Friday, May 15th. UBS Group decreased their target price on AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. William Blair restated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Royal Bank Of Canada started coverage on AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $240.00 target price on shares of AbbVie in a research report on Thursday, April 30th. Three research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

Key Stories Impacting AbbVie

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?

About AbbVie

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.