Natixis Advisors LLC Has $298.15 Million Stake in AbbVie Inc. $ABBV

Natixis Advisors LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,304,890 shares of the company’s stock after acquiring an additional 7,705 shares during the period. Natixis Advisors LLC owned about 0.07% of AbbVie worth $298,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares during the period. Geode Capital Management LLC grew its stake in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares during the period. Norges Bank acquired a new position in AbbVie in the fourth quarter valued at about $5,865,055,000. Legal & General Group Plc grew its stake in AbbVie by 1.1% in the fourth quarter. Legal & General Group Plc now owns 12,133,331 shares of the company’s stock valued at $2,772,345,000 after acquiring an additional 129,247 shares during the period. Finally, Wellington Management Group LLP grew its stake in AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after acquiring an additional 8,646,424 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction that occurred 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 represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $212.63 on Tuesday. The stock has a 50 day moving average price of $208.56 and a 200 day moving average price of $219.58. AbbVie Inc. has a 52 week low of $181.73 and a 52 week high of $244.81. The stock has a market capitalization of $375.67 billion, a PE ratio of 104.74, a price-to-earnings-growth ratio of 0.75 and a beta of 0.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same period in the prior year, the firm posted $2.46 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 14.3 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on ABBV. Piper Sandler boosted their target price on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $240.00 price objective on shares of AbbVie in a research report on Thursday, April 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. UBS Group reduced their price objective on AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

About AbbVie

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.