Corient Private Wealth LLC Purchases 154,569 Shares of AbbVie Inc. $ABBV

Corient Private Wealth LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,501,035 shares of the company’s stock after buying an additional 154,569 shares during the quarter. Corient Private Wealth LLC’s holdings in AbbVie were worth $538,583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Chelsea Counsel Co. purchased a new position in shares of AbbVie in the third quarter worth $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at $28,000. Imprint Wealth LLC boosted its position in shares of AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares during the last quarter. Westend Capital Management LLC bought a new stake in AbbVie in the 4th quarter worth about $29,000. Finally, IFC & Insurance Marketing Inc. bought a new stake in AbbVie in the 4th quarter worth about $31,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 2.1%

Shares of NYSE:ABBV opened at $216.63 on Friday. The firm’s 50 day moving average price is $212.08 and its 200-day moving average price is $218.78. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The stock has a market capitalization of $382.74 billion, a PE ratio of 106.71, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABBV. Cantor Fitzgerald restated an “overweight” rating and set a $240.00 target price on shares of AbbVie in a research note on Thursday, April 30th. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Canaccord Genuity Group raised their target price on shares of AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Barclays initiated coverage on shares of AbbVie in a research report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $253.43.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

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.