AbbVie Inc. $ABBV Shares Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. raised its holdings in AbbVie Inc. (NYSE:ABBV) by 23,216.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 535,576 shares of the company’s stock after purchasing an additional 533,279 shares during the period. AbbVie comprises 1.0% of Jupiter Asset Management Ltd.’s holdings, making the stock its 20th largest position. Jupiter Asset Management Ltd.’s holdings in AbbVie were worth $122,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chelsea Counsel Co. purchased a new position in shares of AbbVie in the third quarter valued at approximately $26,000. Westend Capital Management LLC purchased a new position in shares of AbbVie in the fourth quarter valued at approximately $29,000. Texas Capital Bancshares Inc TX purchased a new position in shares of AbbVie in the third quarter valued at approximately $31,000. Legacy Wealth Managment LLC ID lifted its position in shares of AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC lifted its position in shares of AbbVie by 160.4% in the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock valued at $32,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The U.S. FDA approved AbbVie’s DECNUPAZ (pivekimab sunirine-pvzy) for adults with blastic plasmacytoid dendritic cell neoplasm (BPDCN), an ultra-rare and aggressive blood cancer. This is AbbVie’s first approved antibody-drug conjugate for blood cancer and could open a new revenue stream while strengthening its oncology franchise. Reuters: US FDA approves AbbVie’s rare blood cancer drug
• Positive Sentiment: AbbVie also announced it has launched a first-in-human Phase 1 study for ABBV-1451, signaling continued investment in its early-stage pipeline and potentially expanding future growth options beyond its current blockbuster portfolio. Article reference
• Positive Sentiment: Multiple analysts/commentary pieces highlighted AbbVie’s pipeline strength, with Piper Sandler raising its price target and pointing to progress in inflammatory bowel disease and broader development programs. That reinforces the market’s view that ABBV has room for longer-term growth. Yahoo Finance: Piper Sandler raises price target on AbbVie

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore set a $235.00 price objective on AbbVie in a research report on Friday, May 15th. UBS Group reduced their price objective on AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Royal Bank Of Canada assumed coverage on AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 price objective on shares of AbbVie in a research report on Thursday, April 30th. Finally, Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price on the stock in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $253.43.

Insider Buying and Selling

In related news, SVP David Ryan Purdue sold 5,230 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president directly owned 2,654 shares of the company’s stock, 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 through this hyperlink. 0.06% of the stock is owned by insiders.

AbbVie Trading Up 1.5%

ABBV stock opened at $218.66 on Friday. The company has a market capitalization of $386.32 billion, a PE ratio of 107.71, a P/E/G ratio of 0.74 and a beta of 0.32. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The business’s fifty day moving average price is $208.25 and its 200 day moving average price is $219.68.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping 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 firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same period in the previous year, the firm posted $2.46 EPS. AbbVie’s revenue for the quarter was up 12.4% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Company 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.