MilWealth Group LLC Purchases New Shares in AbbVie Inc. $ABBV

MilWealth Group LLC purchased a new position in AbbVie Inc. (NYSE:ABBV) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,012 shares of the company’s stock, valued at approximately $1,311,000. AbbVie accounts for about 0.3% of MilWealth Group LLC’s investment portfolio, making the stock its 17th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Burk Holdings LLC purchased a new stake in shares of AbbVie in the 2nd quarter worth about $30,000. Marquette Asset Management LLC lifted its position in AbbVie by 52.2% during the 2nd quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock valued at $35,000 after acquiring an additional 48 shares during the period. IMG Wealth Management Inc. lifted its position in AbbVie by 3,060.0% during the 2nd quarter. IMG Wealth Management Inc. now owns 158 shares of the company’s stock valued at $40,000 after acquiring an additional 153 shares during the period. Principia Wealth Advisory LLC lifted its position in AbbVie by 38.9% during the 2nd quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Finally, Tacita Capital Inc bought a new stake in AbbVie during the second quarter worth about $42,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Guggenheim upped their price objective on shares of AbbVie from $288.00 to $322.00 and gave the stock a “buy” rating in a report on Monday. Erste Group Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. Sanford C. Bernstein reissued a “market perform” rating and issued a $275.00 price target on shares of AbbVie in a research report on Monday. Royal Bank Of Canada upped their price target on AbbVie from $280.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, BMO Capital Markets set a $315.00 price objective on AbbVie in a research report on Wednesday. One investment 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. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $297.46.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Strong results and outlook: AbbVie reported $17.4 billion in third-quarter revenue and raised its full-year adjusted earnings guidance, reinforcing its growth case. The results helped lift shares recently. Article: AbbVie Stock Climbs as Q3 Earnings Fuel Growth Case
• Positive Sentiment: Pipeline expansion: AbbVie licensed global rights to Nxera Pharma’s experimental oral IBD drug NXE0033744, agreeing to pay $100 million upfront and up to $1.37 billion in development and commercial milestones, plus royalties. The deal adds a potential new treatment to its pipeline, though it remains investigational. Article: AbbVie Pens $1.4B Deal for Deprioritized IBD Drug from Nxera
• Positive Sentiment: Constructive investor sentiment: Recent coverage highlights analyst optimism and AbbVie’s defensive appeal as technology stocks retreat; the company has also recently reached a new 52-week high. These factors may support demand, but can also leave the stock vulnerable to a pullback after a strong advance. Article: Are Wall Street Analysts Bullish on AbbVie Stock?
• Neutral Sentiment: Additional R&D investment: AbbVie plans to invest £120 million to expand its Oxford research facility, supporting longer-term drug development but requiring time to translate into commercial returns. Article: AbbVie Invests £120m in UK Expansion
• Negative Sentiment: Oncology setback: AbbVie discontinued a Phase 2 solid-tumor drug program after seeing limited benefit, a reminder that clinical development carries risk and may weigh on expectations for its pipeline. Article: AbbVie Abandons Phase 2 Solid Tumor Drug Over Limited Benefit

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were 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 $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

AbbVie Price Performance

Shares of AbbVie stock opened at $288.48 on Friday. The stock has a market cap of $509.91 billion, a price-to-earnings ratio of 49.65, a PEG ratio of 1.34 and a beta of 0.20. The firm’s 50-day moving average is $271.31 and its 200 day moving average is $238.65. AbbVie Inc. has a 1 year low of $190.75 and a 1 year high of $302.93.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. The business had revenue of $17.40 billion during the quarter, compared to analyst estimates of $17.32 billion. AbbVie had a net margin of 15.67% and a negative return on equity of 450.55%. AbbVie’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $1.86 EPS. On average, equities analysts expect that AbbVie Inc. will post 13.99 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Stockholders of record on Friday, January 15th will be issued a dividend of $1.82 per share. The ex-dividend date is Friday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.73. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.5%. AbbVie’s dividend payout ratio is currently 119.10%.

About AbbVie

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.