Northeast Investment Management Buys 6,138 Shares of AbbVie Inc. $ABBV

Northeast Investment Management boosted its stake in AbbVie Inc. (NYSE:ABBV) by 51.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,175 shares of the company’s stock after acquiring an additional 6,138 shares during the period. Northeast Investment Management’s holdings in AbbVie were worth $4,754,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. State Street Corp grew its holdings in AbbVie by 1.7% during the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock valued at $20,784,646,000 after purchasing an additional 1,379,232 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AbbVie by 0.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock valued at $3,590,323,000 after buying an additional 106,091 shares during the period. Legal & General Group Plc bought a new stake in shares of AbbVie in the second quarter valued at $2,905,952,000. Deutsche Bank AG lifted its position in shares of AbbVie by 13.0% during the 2nd quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock valued at $2,710,905,000 after buying an additional 1,241,587 shares during the last quarter. Finally, Amundi lifted its position in shares of AbbVie by 2.4% during the 1st quarter. Amundi now owns 10,698,095 shares of the company’s stock valued at $2,326,728,000 after buying an additional 247,689 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Morgan Stanley boosted their price objective on AbbVie from $310.00 to $346.00 and gave the company an “overweight” rating in a research note on Monday. Erste Group Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. increased their target price on shares of AbbVie from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 8th. Barclays lifted their target price on shares of AbbVie from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Finally, Rothschild & Co Redburn boosted their price target on shares of AbbVie from $284.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.46.

AbbVie Trading Up 2.9%

ABBV stock opened at $294.15 on Thursday. The firm has a 50 day moving average of $270.80 and a 200-day moving average of $238.28. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $298.74. The firm has a market capitalization of $519.71 billion, a P/E ratio of 50.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.20.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.09. AbbVie had a net margin of 15.67% and a negative return on equity of 435.41%. The business had revenue of $17.40 billion for the quarter, compared to analyst estimates of $17.32 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. AbbVie’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 13.99 EPS for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from AbbVie’s previous quarterly dividend of $1.73. The ex-dividend date is Friday, January 15th. AbbVie’s dividend payout ratio (DPR) is 125.30%.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie secured global rights to Nxera’s investigational oral IBD drug NXE0033744. The deal includes $100 million upfront, up to $1.37 billion in development and commercial milestones, and tiered royalties. The agreement could strengthen AbbVie’s future immunology pipeline, but milestone payments depend on development and commercial progress. Nxera licensing agreement
• Positive Sentiment: Several analysts raised their AbbVie price targets, adding to a favorable near-term outlook. Morgan Stanley price target update
• Positive Sentiment: AbbVie expanded its Oxford research facility as part of an investment exceeding £120 million, supporting longer-term research in immunology, neurology and oncology. Reuters report on Oxford R&D expansion
• Neutral Sentiment: Updated full-year revenue guidance of $67.8 billion is slightly above consensus, while projected EPS of $13.95–$13.99 is broadly in line. Fourth-quarter revenue guidance also edged above expectations, but EPS guidance of $3.83–$3.87 is below the $3.89 consensus. AbbVie outlook and valuation
• Negative Sentiment: AbbVie discontinued a Phase 2 solid-tumor drug program after seeing “limited benefit,” a setback for that part of its pipeline. Report on discontinued drug program

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.