AbbVie Inc. $ABBV Stock Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% in the third quarter, Holdings Channel reports. The institutional investor owned 940,207 shares of the company’s stock after selling 34,898 shares during the quarter. Commonwealth Equity Services LLC’s holdings in AbbVie were worth $245,949,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Burk Holdings LLC purchased a new position in AbbVie in the second quarter worth approximately $30,000. Marquette Asset Management LLC increased its stake in AbbVie by 52.2% during the second quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock worth $35,000 after acquiring an additional 48 shares during the last quarter. Principia Wealth Advisory LLC increased its stake in AbbVie by 38.9% during the second quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. IMG Wealth Management Inc. raised its position in AbbVie by 3,060.0% in the second quarter. IMG Wealth Management Inc. now owns 158 shares of the company’s stock valued at $40,000 after purchasing an additional 153 shares during the period. Finally, Tacita Capital Inc purchased a new stake in AbbVie in the second quarter valued at $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABBV. UBS Group upped their price target on AbbVie from $275.00 to $295.00 and gave the company a “neutral” rating in a research note on Monday. Erste Group Bank raised AbbVie from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Barclays raised their price objective on AbbVie from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Citigroup boosted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Guggenheim increased their target price on shares of AbbVie from $288.00 to $322.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $297.46.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Strong results and outlook: AbbVie reported $17.4 billion in third-quarter revenue and raised its full-year adjusted earnings guidance, reinforcing its growth case. The results helped lift shares recently. Article: AbbVie Stock Climbs as Q3 Earnings Fuel Growth Case
• Positive Sentiment: Pipeline expansion: AbbVie licensed global rights to Nxera Pharma’s experimental oral IBD drug NXE0033744, agreeing to pay $100 million upfront and up to $1.37 billion in development and commercial milestones, plus royalties. The deal adds a potential new treatment to its pipeline, though it remains investigational. Article: AbbVie Pens $1.4B Deal for Deprioritized IBD Drug from Nxera
• Positive Sentiment: Constructive investor sentiment: Recent coverage highlights analyst optimism and AbbVie’s defensive appeal as technology stocks retreat; the company has also recently reached a new 52-week high. These factors may support demand, but can also leave the stock vulnerable to a pullback after a strong advance. Article: Are Wall Street Analysts Bullish on AbbVie Stock?
• Neutral Sentiment: Additional R&D investment: AbbVie plans to invest £120 million to expand its Oxford research facility, supporting longer-term drug development but requiring time to translate into commercial returns. Article: AbbVie Invests £120m in UK Expansion
• Negative Sentiment: Oncology setback: AbbVie discontinued a Phase 2 solid-tumor drug program after seeing limited benefit, a reminder that clinical development carries risk and may weigh on expectations for its pipeline. Article: AbbVie Abandons Phase 2 Solid Tumor Drug Over Limited Benefit

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the transaction, the executive vice president owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 2.2%

ABBV opened at $288.48 on Friday. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $302.93. The business has a fifty day simple moving average of $271.31 and a 200-day simple moving average of $238.65. The firm has a market cap of $509.91 billion, a P/E ratio of 49.65, a P/E/G ratio of 1.34 and a beta of 0.20.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. The business had revenue of $17.40 billion during the quarter, compared to analysts’ expectations of $17.32 billion. AbbVie had a negative return on equity of 450.55% and a net margin of 15.67%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 13.99 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be given a $1.82 dividend. The ex-dividend date of this dividend is Friday, January 15th. This represents a $7.28 annualized dividend and a yield of 2.5%. This is an increase from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio is presently 119.10%.

AbbVie Profile

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company’s key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.