Texas Yale Capital Corp. Acquires 4,208 Shares of AbbVie Inc. $ABBV

Texas Yale Capital Corp. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,947 shares of the company’s stock after acquiring an additional 4,208 shares during the quarter. Texas Yale Capital Corp.’s holdings in AbbVie were worth $10,727,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. bought a new position in AbbVie during the third quarter valued at approximately $26,000. Westend Capital Management LLC bought a new position in AbbVie during the fourth quarter valued at approximately $29,000. Texas Capital Bancshares Inc TX bought a new position in AbbVie during the third quarter valued at approximately $31,000. Legacy Wealth Managment LLC ID raised its position in AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC raised its position in AbbVie by 160.4% during the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock valued at $32,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Key AbbVie News

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?

AbbVie Trading Down 0.4%

Shares of AbbVie stock opened at $217.83 on Friday. The company’s fifty day simple moving average is $208.43 and its 200-day simple moving average is $219.66. The company has a market cap of $384.85 billion, a price-to-earnings ratio of 107.30, a PEG ratio of 0.75 and a beta of 0.32. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.06. The business 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%. AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Insider Activity

In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction 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 transaction, the senior vice president directly owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Canaccord Genuity Group increased their price target on AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Morgan Stanley increased their price target on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Evercore set a $235.00 price target on AbbVie in a report on Friday, May 15th. Finally, Wall Street Zen upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie 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.