Savant Capital LLC Sells 22,942 Shares of AbbVie Inc. $ABBV

Savant Capital LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,612 shares of the company’s stock after selling 22,942 shares during the quarter. Savant Capital LLC’s holdings in AbbVie were worth $37,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in AbbVie by 5.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after purchasing an additional 789 shares in the last quarter. Ieq Capital LLC increased its holdings in AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings in AbbVie by 117.3% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after purchasing an additional 612,702 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Key Headlines Impacting AbbVie

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

Insider Buying and Selling

In related news, SVP David Ryan Purdue sold 5,230 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the sale, the senior vice president owned 2,654 shares of the company’s stock, valued at $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Royal Bank Of Canada assumed coverage on AbbVie in a report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 target price for the company. Morgan Stanley boosted their target price on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. William Blair reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Guggenheim reissued a “buy” rating and set a $249.00 target price on shares of AbbVie in a report on Friday, May 1st. Finally, Piper Sandler boosted their target price on shares of AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $218.66 on Friday. The company has a market capitalization of $386.32 billion, a P/E ratio of 107.71, a price-to-earnings-growth ratio of 0.74 and a beta of 0.32. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81. The company’s 50 day moving average price is $208.25 and its 200-day moving average price is $219.68.

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