Janus Henderson Group PLC Purchases 1,468,961 Shares of AbbVie Inc. $ABBV

Janus Henderson Group PLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 29.8% during the 4th quarter, Holdings Channel reports. The firm owned 6,402,650 shares of the company’s stock after acquiring an additional 1,468,961 shares during the period. AbbVie comprises about 0.7% of Janus Henderson Group PLC’s holdings, making the stock its 21st biggest holding. Janus Henderson Group PLC’s holdings in AbbVie were worth $1,462,864,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of 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 last quarter. State Street Corp grew its holdings 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 purchasing an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 4,190,487 shares during the last quarter. Bank of America Corp DE grew its holdings 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 purchasing an additional 356,394 shares during the last quarter. Finally, Norges Bank bought a new stake in AbbVie in the fourth quarter valued at $5,865,055,000. Institutional investors own 70.23% of the company’s stock.

More AbbVie News

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

AbbVie Price Performance

ABBV opened at $221.25 on Thursday. The stock has a 50-day moving average price of $211.87 and a 200-day moving average price of $218.85. The firm has a market cap of $390.90 billion, a PE ratio of 108.99, a P/E/G ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81.

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

Analyst Ratings Changes

Several analysts recently weighed in on ABBV shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $240.00 price target on shares of AbbVie in a report on Thursday, April 30th. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Canaccord Genuity Group lifted their price target on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a report on Thursday, April 30th. Finally, Barclays started coverage on shares of AbbVie in a report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.