2,718 Shares in AbbVie Inc. $ABBV Acquired by Archvest Wealth Advisors Inc.

Archvest Wealth Advisors Inc. acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,718 shares of the company’s stock, valued at approximately $621,000.

Other institutional investors also recently modified their holdings of the company. Chelsea Counsel Co. acquired a new position in shares of AbbVie in the third quarter worth $26,000. Westend Capital Management LLC purchased a new position in AbbVie in the fourth quarter valued at about $29,000. Texas Capital Bancshares Inc TX acquired a new position in AbbVie in the 3rd quarter worth about $31,000. Legacy Wealth Managment LLC ID increased its position in AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares during the last quarter. Finally, WestEnd Advisors LLC raised its stake in shares of AbbVie by 160.4% during the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The UK drug-cost watchdog recommended AbbVie’s ovarian cancer therapy Elahere for patients with a hard-to-treat form of ovarian cancer, boosting the drug’s commercial prospects in a key market. British drug-cost watchdog recommends use of AbbVie’s ovarian cancer therapy
• Positive Sentiment: AbbVie won EU approval for AQUIPTA (atogepant) as an acute treatment for migraine in adults, adding a second approved migraine indication and expanding the drug’s revenue opportunity. AbbVie Gets EU Nod for Aquipta as Acute Treatment for Migraine
• Positive Sentiment: The European Commission also authorized an expanded label for VENCLYXTO, which could broaden use in combination therapies and support oncology sales. AbbVie Inc. (ABBV) Announces EC Authorization of Expanded Label for VENCLYXTO®
• Positive Sentiment: AbbVie’s update on a Japan safety study for RINVOQ drew attention to ongoing development and post-market monitoring, though the details appear to be part of routine clinical follow-up rather than a major catalyst. AbbVie’s RINVOQ Safety Study In Japan
• Neutral Sentiment: AbbVie also said it will present at the Goldman Sachs healthcare conference next week, which usually keeps investors focused on management commentary but is not a direct business update. AbbVie to Present at the Goldman Sachs 47th Annual Global Healthcare Conference

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ABBV shares. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a report on Thursday, April 30th. Morgan Stanley boosted their target price on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a report on Thursday, February 5th. Finally, William Blair restated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Price Performance

ABBV stock opened at $217.24 on Thursday. The company has a 50-day moving average of $209.03 and a two-hundred day moving average of $219.35. The stock has a market capitalization of $383.82 billion, a price-to-earnings ratio of 107.02, a price-to-earnings-growth ratio of 0.66 and a beta of 0.32. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81.

AbbVie (NYSE:ABBV) last posted 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. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

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.