Asset One Wealth Management LLC Acquires Shares of 19,017 AbbVie Inc. $ABBV

Asset One Wealth Management LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,017 shares of the company’s stock, valued at approximately $4,291,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in AbbVie by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares in the last quarter. State Street Corp lifted its stake in shares of AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after buying an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of AbbVie by 10.4% in the fourth 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 in the last quarter. Bank of America Corp DE lifted its stake in shares of AbbVie by 1.4% in the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after buying an additional 356,394 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of AbbVie in the fourth quarter worth about $5,865,055,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Key Stories 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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays assumed coverage on shares of AbbVie in a research note on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target on the stock. Canaccord Genuity Group raised their price target on shares of AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Guggenheim reissued a “buy” rating and issued a $249.00 price target on shares of AbbVie in a research note on Friday, May 1st. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Trading Down 0.6%

AbbVie stock opened at $221.25 on Thursday. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The stock has a market cap of $390.90 billion, a P/E ratio of 108.99, a PEG ratio of 0.68 and a beta of 0.32. The company has a 50-day moving average price of $211.87 and a 200 day moving average price of $218.85.

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

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.