CrossGen Wealth LLC Acquires Shares of 5,117 AbbVie Inc. $ABBV

CrossGen Wealth LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,117 shares of the company’s stock, valued at approximately $1,169,000. AbbVie makes up about 1.0% of CrossGen Wealth LLC’s portfolio, making the stock its 29th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chelsea Counsel Co. purchased a new position in AbbVie during the 3rd quarter worth $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter worth $28,000. Westend Capital Management LLC purchased a new stake in shares of AbbVie in the 4th quarter worth $29,000. Imprint Wealth LLC grew its position in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX bought a new position in shares of AbbVie during the 3rd quarter worth $31,000. Institutional investors own 70.23% of the company’s stock.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

AbbVie Price Performance

Shares of NYSE ABBV opened at $216.63 on Friday. The stock has a market capitalization of $382.74 billion, a P/E ratio of 106.71, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a 1-year low of $181.73 and a 1-year high of $244.81. The business has a fifty day moving average price of $212.08 and a 200 day moving average price of $218.78.

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

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. Evercore set a $235.00 price objective on AbbVie in a report on Friday, May 15th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Canaccord Genuity Group boosted their price target on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 30th. William Blair reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Finally, DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $253.43.

AbbVie 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.