Ibex Wealth Advisors Raises Position in AbbVie Inc. $ABBV

Ibex Wealth Advisors boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 39.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,939 shares of the company’s stock after buying an additional 23,591 shares during the period. AbbVie makes up about 1.7% of Ibex Wealth Advisors’ holdings, making the stock its 14th largest holding. Ibex Wealth Advisors’ holdings in AbbVie were worth $18,038,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Norges Bank bought a new stake in shares of AbbVie during the 4th quarter valued at about $5,865,055,000. Wellington Management Group LLP increased its position in shares of AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after purchasing an additional 8,646,424 shares during the last quarter. Capital World Investors increased its position in shares of AbbVie by 106.3% in the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock worth $2,986,777,000 after purchasing an additional 6,736,161 shares during the last quarter. Cardano Risk Management B.V. raised its stake in AbbVie by 914.6% in the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock valued at $1,244,112,000 after purchasing an additional 4,908,260 shares in the last quarter. Finally, Geode Capital Management LLC raised 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 purchasing an additional 4,190,487 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: JPMorgan raised its price target on AbbVie to $280 from $260 and kept an overweight rating, signaling confidence in further upside. Benzinga
• Positive Sentiment: The European Commission approved AbbVie’s Tepkinly-based combination for relapsed or refractory follicular lymphoma, expanding the company’s oncology footprint and potentially supporting future sales growth. Pharmaceutical Technology
• Positive Sentiment: AbbVie also completed a first-in-human ABBV-277 trial, and early safety data could matter for its pipeline if the program continues to show promise. TipRanks
• Neutral Sentiment: West Pharmaceutical completed the SmartDose 3.5mL sale to AbbVie, a transaction that helps West refocus on its core business but is not likely to be a major direct driver for AbbVie’s stock. Zacks
• Neutral Sentiment: Market commentary on cystic fibrosis drug development highlighted AbbVie’s presence in a growing orphan-drug category, but the article was broad industry context rather than a company-specific catalyst. Yahoo Finance
• Negative Sentiment: Despite the positive headlines, AbbVie’s shares ended the session lower, suggesting investors may be taking profits or waiting for the upcoming earnings report and clearer pipeline results. Zacks

AbbVie Price Performance

Shares of ABBV opened at $249.98 on Friday. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64. The stock has a 50 day simple moving average of $224.54 and a two-hundred day simple moving average of $221.06. The firm has a market cap of $441.67 billion, a P/E ratio of 123.14, a P/E/G ratio of 0.83 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 14.25 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABBV shares. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Cantor Fitzgerald raised their price objective on shares of AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Wells Fargo & Company set a $260.00 target price on shares of AbbVie in a research report on Monday, June 22nd. Finally, Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $258.19.

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.