AbbVie Inc. $ABBV Shares Sold by Triglav Investments D.O.O.

Triglav Investments D.O.O. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,052 shares of the company’s stock after selling 3,369 shares during the quarter. Triglav Investments D.O.O.’s holdings in AbbVie were worth $12,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new stake in AbbVie during the 3rd quarter worth $26,000. Westend Capital Management LLC acquired a new stake in AbbVie during the 4th quarter worth $29,000. Texas Capital Bancshares Inc TX acquired a new stake in AbbVie during the 3rd quarter worth $31,000. Legacy Wealth Managment LLC ID boosted its stake in AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares during the last quarter. Finally, WestEnd Advisors LLC boosted its stake in AbbVie by 160.4% during the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ABBV shares. Royal Bank Of Canada assumed coverage on shares of AbbVie in a research note on Tuesday, February 24th. They set an “outperform” rating and a $260.00 target price on the stock. Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research report on Thursday, April 30th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a research report on Thursday, February 5th. Piper Sandler boosted their price target on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $253.43.

Insider Transactions at AbbVie

In related news, SVP David Ryan Purdue sold 5,230 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the sale, the senior vice president directly owned 2,654 shares in the company, valued at approximately $619,868.24. The trade was a 66.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

AbbVie News Summary

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 Trading Down 0.4%

Shares of ABBV stock opened at $217.83 on Friday. The company’s 50-day moving average price is $208.43 and its 200-day moving average price is $219.66. The stock has a market cap of $384.85 billion, a price-to-earnings ratio of 107.30, a PEG ratio of 0.75 and a beta of 0.32. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results 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. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

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.