AbbVie Inc. $ABBV Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,320 shares of the company’s stock after purchasing an additional 7,698 shares during the period. Daiwa Securities Group Inc.’s holdings in AbbVie were worth $78,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ABBV. Brighton Jones LLC lifted its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. 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 acquiring 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 acquiring 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 acquiring 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 acquiring an additional 612,702 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the subject of several recent analyst reports. Piper Sandler boosted their price target on shares of AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Royal Bank Of Canada initiated coverage on shares of AbbVie in a report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price target for the company. Evercore set a $235.00 price target on shares of AbbVie in a report on Friday, May 15th. William Blair reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Finally, Wall Street Zen raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie won U.K. NHS backing for Elahere, its ovarian cancer therapy, and Reuters reported the British drug-cost watchdog recommended the treatment for a hard-to-treat form of ovarian cancer, improving access and potential sales in a key market. British drug-cost watchdog recommends use of AbbVie’s ovarian cancer therapy
• Positive Sentiment: The company also received European Commission approval for Aquipta to treat migraine, adding a second approved migraine indication and broadening the drug’s commercial opportunity. AbbVie receives EC approval for Aquipta to treat migraine
• Positive Sentiment: Analyst coverage also highlighted AbbVie’s oncology strategy after Decnupaz approval, signaling that management is building a larger antibody-drug conjugate pipeline that could create longer-term upside. Does Decnupaz Approval Validate ABBV’s ADC Strategy in Oncology?
• Neutral Sentiment: Several recent clinical-study updates, including completion of an upadacitinib study in China and a bioavailability study for ABBV-932, suggest steady pipeline progress, but they are not immediate revenue catalysts. AbbVie Completes Real World Upadacitinib Study in China: What Investors Should Watch AbbVie Advances ABBV-932 With Completed Bioavailability Study
• Negative Sentiment: AbbVie also ended an early-stage lung cancer trial for ABBV-647, which trims one potential oncology growth driver and adds some caution around pipeline execution. AbbVie Ends Early Lung Cancer Trial for ABBV-647

AbbVie Stock Up 3.5%

AbbVie stock opened at $224.81 on Friday. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81. The firm has a market capitalization of $397.19 billion, a price-to-earnings ratio of 110.74, a PEG ratio of 0.66 and a beta of 0.32. The company has a fifty day simple moving average of $209.43 and a 200-day simple moving average of $219.30.

AbbVie (NYSE:ABBV) last released its 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. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the prior year, the firm earned $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.