Vise Technologies Inc. Acquires 25,198 Shares of AbbVie Inc. $ABBV

Vise Technologies Inc. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 58.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 68,156 shares of the company’s stock after buying an additional 25,198 shares during the quarter. Vise Technologies Inc.’s holdings in AbbVie were worth $15,573,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ABBV. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter worth about $5,865,055,000. Wellington Management Group LLP lifted its holdings in shares of AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after acquiring an additional 8,646,424 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after acquiring an additional 4,190,487 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after acquiring an additional 3,032,438 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of AbbVie by 41.8% in the 2nd quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock worth $1,733,222,000 after acquiring an additional 2,753,312 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $224.81 on Friday. AbbVie Inc. has a one year low of $181.73 and a one year high of $244.81. The firm has a market cap of $397.19 billion, a P/E ratio of 110.74, a P/E/G ratio of 0.66 and a beta of 0.32. The firm has a 50-day simple moving average of $209.43 and a 200-day simple moving average of $219.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating 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 business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the previous year, the business posted $2.46 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, research analysts predict that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on ABBV shares. Piper Sandler raised their price target on shares of AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Wall Street Zen raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. UBS Group reduced their price target on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Guggenheim reaffirmed a “buy” rating and issued a $249.00 price target on shares of AbbVie in a research note on Friday, May 1st. Finally, 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. Three investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s ovarian cancer drug Elahere received a green light from the UK’s NHS, expanding access in a hard-to-treat cancer market and reinforcing the drug’s commercial potential. British drug-cost watchdog recommends use of AbbVie’s ovarian cancer therapy
• Positive Sentiment: AbbVie also won European approval for Aquipta as a migraine treatment, adding another approved indication and supporting future sales growth for its neurology franchise. AbbVie receives EC approval for Aquipta to treat migraine
• Positive Sentiment: Analyst-style coverage highlighted AbbVie as a “cheap stock” and a potentially undervalued name, which can support investor sentiment around the stock’s longer-term upside. 5 Best Cheap Stocks to Buy for Beginners
• Neutral Sentiment: AbbVie completed several study updates, including a real-world upadacitinib study in China and a bioavailability study for ABBV-932, which are supportive for the pipeline but not immediate commercial catalysts. AbbVie Completes Real World Upadacitinib Study in China AbbVie Advances ABBV-932 With Completed Bioavailability Study
• Negative Sentiment: AbbVie ended an early lung-cancer trial for ABBV-647, which slightly trims one oncology upside avenue, even though it does not change the broader growth story. AbbVie Ends Early Lung Cancer Trial for ABBV-647

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.