SBI Okasan Asset Management Co.Ltd. Acquires New Shares in AbbVie Inc. $ABBV

SBI Okasan Asset Management Co.Ltd. acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,200 shares of the company’s stock, valued at approximately $970,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABBV. Brighton Jones LLC raised its holdings in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in AbbVie by 5.0% in the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock valued at $3,056,000 after purchasing an additional 789 shares during the last quarter. Ieq Capital LLC grew its stake in AbbVie by 4.6% in the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock valued at $22,281,000 after purchasing an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in AbbVie by 117.3% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after purchasing an additional 612,702 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie received U.S. FDA approval for DECNUPAZ, its first ADC approved for blood cancer, opening a new potential revenue stream in a highly specialized oncology market. U.S. FDA Approves DECNUPAZTM (pivekimab sunirine-pvzy) for Treatment of Adult Patients with Blastic Plasmacytoid Dendritic Cell Neoplasm, an Ultra-Rare and Aggressive Blood Cancer With Limited Treatment Options
• Positive Sentiment: The European Commission expanded the VENCLYXTO label in untreated CLL, broadening use of an established oncology drug and potentially supporting international sales. AbbVie Announces European Commission Authorization of Expanded Label for VENCLYXTO® (venetoclax) to Include Additional Combinations in Previously Untreated Chronic Lymphocytic Leukemia
• Positive Sentiment: AbbVie advanced ABBV-519 into first-in-human testing, signaling continued momentum in its immunology pipeline. AbbVie Inc. (ABBV) Presents at EU Clinical Trial Regulation: Latest Developments and Upcoming Opportunities Transcript
• Neutral Sentiment: Recent articles note ABBV has outperformed since its last earnings report and remains viewed as reasonably valued by some analysts, but these are more commentary than fresh business catalysts. AbbVie (ABBV) Up 3.5% Since Last Earnings Report: Can It Continue?

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ABBV shares. Barclays started coverage on AbbVie in a research note on Thursday, February 19th. They issued an “overweight” rating and a $275.00 target price on the stock. Royal Bank Of Canada started coverage on AbbVie in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 target price on the stock. Morgan Stanley lifted their target price on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research note on Thursday, February 5th. Finally, UBS Group cut their target price on AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Three 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 stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

Insider Activity

In other news, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the transaction, the senior vice president owned 2,654 shares in the company, valued at $619,868.24. This represents a 66.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

AbbVie Stock Down 0.4%

ABBV opened at $217.83 on Friday. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81. The company has a market cap of $384.85 billion, a P/E ratio of 107.30, a price-to-earnings-growth ratio of 0.75 and a beta of 0.32. The firm’s 50-day moving average price is $208.43 and its 200-day moving average price is $219.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, research analysts anticipate 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.