Banco Bilbao Vizcaya Argentaria S.A. Sells 20,090 Shares of AbbVie Inc. $ABBV

Banco Bilbao Vizcaya Argentaria S.A. lessened its position in AbbVie Inc. (NYSE:ABBV) by 5.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 336,613 shares of the company’s stock after selling 20,090 shares during the period. AbbVie comprises approximately 0.5% of Banco Bilbao Vizcaya Argentaria S.A.’s holdings, making the stock its 29th biggest holding. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in AbbVie were worth $76,966,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 buying an additional 3,032,438 shares in the last quarter. State Street Corp increased its holdings in shares of AbbVie by 1.4% during the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after buying an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 last quarter. Bank of America Corp DE boosted its holdings in shares of AbbVie by 1.4% in the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after acquiring an additional 356,394 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie in the 4th quarter worth approximately $5,865,055,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABBV. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Barclays assumed coverage on AbbVie in a report on Thursday, February 19th. They set an “overweight” rating and a $275.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research report on Thursday, April 30th. Finally, William Blair restated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie presented new Phase 3 data on its fixed-duration venetoclax-based combination at the European Hematology Association Congress, adding to the company’s oncology pipeline credibility and reinforcing the long-term growth case for ABBV. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Positive Sentiment: AbbVie also highlighted progress in a late-stage colorectal cancer study for ABBV-400, keeping the drug candidate in the spotlight and signaling that the company still has multiple pipeline catalysts beyond its core immunology franchise. AbbVie’s New Phase 3 Colorectal Cancer Trial Puts ABBV-400 in the Late-Stage Spotlight
• Positive Sentiment: Recent commentary has focused on AbbVie’s strong first-quarter execution, including revenue of about $15.0 billion and raised full-year EPS guidance, which supports the view that the business is performing better than many expected. This $15 Billion Operational Beat Just Rewrote the Entire Bear Thesis for AbbVie
• Neutral Sentiment: Several articles noted that AbbVie remains a widely watched and frequently recommended stock, with investors focusing on analyst sentiment, dividend appeal, and the company’s valuation as they assess whether recent gains can continue. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Broader market coverage also pointed to AbbVie as a possible dividend and defensive healthcare holding, but these pieces were mostly reiterations of the stock’s established investment case rather than new price-moving developments. Brokers Suggest Investing in AbbVie (ABBV): Read This Before Placing a Bet

AbbVie Stock Down 0.6%

ABBV stock opened at $221.25 on Thursday. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The company has a market cap of $390.90 billion, a P/E ratio of 108.99, a PEG ratio of 0.68 and a beta of 0.32. The business has a fifty day moving average of $211.87 and a 200-day moving average of $218.85.

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