Income Insurance Ltd Buys Shares of 5,414 AbbVie Inc. $ABBV

Income Insurance Ltd bought a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, HoldingsChannel.com reports. The fund bought 5,414 shares of the company’s stock, valued at approximately $1,237,000. AbbVie accounts for approximately 0.8% of Income Insurance Ltd’s holdings, making the stock its 19th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Wellington Management Group LLP lifted its holdings in AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after purchasing an additional 8,646,424 shares in the last quarter. Vanguard Group Inc. lifted its holdings in AbbVie by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in AbbVie by 41.8% in the 2nd quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock valued at $1,733,222,000 after purchasing an additional 2,753,312 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in AbbVie by 31.8% in the 3rd quarter. Alliancebernstein L.P. now owns 7,281,327 shares of the company’s stock valued at $1,685,918,000 after purchasing an additional 1,758,657 shares in the last quarter. Finally, Amundi lifted its holdings in AbbVie by 15.6% in the 3rd quarter. Amundi now owns 10,508,317 shares of the company’s stock valued at $2,418,909,000 after purchasing an additional 1,414,621 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the transaction, the senior vice president owned 2,654 shares in the company, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 22,381 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the transaction, the executive vice president owned 38,137 shares in the company, valued at $8,771,510. The trade was a 36.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.06% of the company’s stock.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie continued to draw bullish attention after reporting strong first-quarter results, with revenue and earnings coming in ahead of expectations and showing that growth is extending beyond Humira into newer drugs like Skyrizi and Rinvoq. AbbVie Delivers Strong Q1 Earnings Beyond Humira. This Dividend King Still Shines.
• Positive Sentiment: AbbVie completed an early safety study for ABBV-142, which may improve investor confidence in the company’s pipeline and future oncology growth prospects. AbbVie Completes Early Safety Study for ABBV-142, Nudging Pipeline Hopes Higher
• Positive Sentiment: AbbVie and adMare BioInnovations named RIME Therapeutics as a Biotech Innovators Award winner, reinforcing AbbVie’s efforts to support early-stage biotech innovation and build optionality around its pipeline ecosystem. AbbVie (ABBV), adMare BioInnovations Name RIME Therapeutics as Biotech Innovators Award Winner
• Positive Sentiment: Skyrizi ranked ahead of J&J’s Tremfya in April drug ad spending, signaling continued competitive momentum and heavy marketing support for one of AbbVie’s key growth brands. AbbVie’s Skyrizi beats out J&J’s Tremfya in April drug ad spending leaderboard
• Neutral Sentiment: Analyst commentary and Q1 earnings-call recaps highlighted ongoing interest in AbbVie’s post-Humira growth strategy, but these pieces were mostly interpretive rather than new market-moving disclosures. 5 must-read analyst questions from AbbVie’s Q1 earnings call
• Neutral Sentiment: Coverage on SKYRIZI expansion and reimbursement progress in Canada suggests continued international adoption, but the article framed these as part of an already constructive longer-term thesis rather than a single new catalyst. Does Strong Q1 Results And SKYRIZI Expansion Reshape The Bull Case For AbbVie (ABBV)?
• Negative Sentiment: One relative headwind is that ABBV shares have recently traded below key moving averages, reflecting some investor caution even as fundamentals remain solid.

AbbVie Price Performance

Shares of ABBV stock opened at $201.24 on Friday. The firm has a market cap of $355.83 billion, a P/E ratio of 99.13, a PEG ratio of 0.70 and a beta of 0.32. AbbVie Inc. has a 1-year low of $176.57 and a 1-year high of $244.81. The firm’s 50-day simple moving average is $213.18 and its 200-day simple moving average is $221.00.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share 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 analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 911.57%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 EPS. Analysts expect that AbbVie Inc. will post 14.32 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, April 15th. AbbVie’s dividend payout ratio is presently 340.89%.

Analysts Set New Price Targets

A number of research firms have issued reports on ABBV. Evercore reduced their target price on shares of AbbVie from $232.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. Citigroup reduced their target price on shares of AbbVie from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Wall Street Zen upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday. Cantor Fitzgerald restated an “overweight” rating and issued a $240.00 target price on shares of AbbVie in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a report on Wednesday, January 21st. Three 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $252.90.

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.