Rothschild Investment LLC Reduces Position in AbbVie Inc. $ABBV

Rothschild Investment LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 2.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 99,348 shares of the company’s stock after selling 2,453 shares during the period. AbbVie comprises approximately 1.2% of Rothschild Investment LLC’s portfolio, making the stock its 11th largest holding. Rothschild Investment LLC’s holdings in AbbVie were worth $22,700,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Vanguard Group Inc. boosted its holdings in AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares during the period. Geode Capital Management LLC boosted its holdings in AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares during the period. Legal & General Group Plc boosted its holdings in AbbVie by 1.1% during the 4th quarter. Legal & General Group Plc now owns 12,133,331 shares of the company’s stock valued at $2,772,345,000 after acquiring an additional 129,247 shares during the period. Wellington Management Group LLP boosted its holdings in AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after acquiring an additional 8,646,424 shares during the period. Finally, Amundi boosted its holdings in AbbVie by 15.6% during the 3rd quarter. Amundi now owns 10,508,317 shares of the company’s stock valued at $2,418,909,000 after acquiring an additional 1,414,621 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $249.00 price objective on shares of AbbVie in a report on Friday, May 1st. UBS Group decreased their price target on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Morgan Stanley lifted their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a research report on Thursday, February 5th. Three investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

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

AbbVie Stock Performance

NYSE:ABBV opened at $218.66 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 $386.32 billion, a P/E ratio of 107.71, a P/E/G ratio of 0.74 and a beta of 0.32. The firm has a 50-day simple moving average of $208.25 and a 200-day simple moving average of $219.68.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 EPS. On average, research analysts predict that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

Insider Transactions at AbbVie

In other news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the transaction, the senior vice president directly owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. This represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

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.