AbbVie Inc. $ABBV Position Increased by Independence Bank of Kentucky

Independence Bank of Kentucky increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,847 shares of the company’s stock after acquiring an additional 2,572 shares during the quarter. AbbVie makes up approximately 0.8% of Independence Bank of Kentucky’s holdings, making the stock its 23rd biggest holding. Independence Bank of Kentucky’s holdings in AbbVie were worth $6,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Bank of Jackson Hole Trust lifted its holdings in shares of AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock worth $1,648,000 after purchasing an additional 44 shares during the last quarter. Eclectic Associates Inc. ADV grew its stake in AbbVie by 0.8% during the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock worth $1,337,000 after buying an additional 45 shares during the last quarter. Imprint Wealth LLC increased its position in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares during the period. Hardin Capital Partners LLC lifted its stake in AbbVie by 1.4% in the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after buying an additional 46 shares during the last quarter. Finally, Dogwood Wealth Management LLC lifted its stake in AbbVie by 10.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock valued at $108,000 after buying an additional 46 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $248.00 on Friday. The firm’s 50 day moving average is $225.42 and its 200-day moving average is $221.25. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64. The stock has a market capitalization of $438.17 billion, a P/E ratio of 122.17, a P/E/G ratio of 0.81 and a beta of 0.30.

AbbVie (NYSE:ABBV) last announced its 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 business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the prior year, the business posted $2.46 earnings per share. AbbVie’s revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 14.39 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Bank of America raised AbbVie’s price target to $276 from $234 and reiterated a buy rating, signaling confidence in additional upside for the shares. Bank of America raises AbbVie price target
• Positive Sentiment: RBC Capital also increased its price target to $280 from $260 and kept an outperform rating, adding to the wave of analyst support. RBC raises AbbVie price target
• Positive Sentiment: JPMorgan likewise lifted its target to $280 from $260 and maintained an overweight rating, reinforcing a favorable near-term outlook for AbbVie. JPMorgan raises AbbVie price target
• Neutral Sentiment: Recent coverage comparing Johnson & Johnson and AbbVie highlighted how both pharma giants’ latest quarterly results are shaping income-investor preferences, but it did not point to a clear new catalyst for AbbVie. Johnson & Johnson vs AbbVie article
• Neutral Sentiment: AbbVie also appeared in an industry piece on the expanding cystic fibrosis market, which may be supportive of long-term therapeutic demand but is not an immediate stock-moving event. Cystic fibrosis market article
• Negative Sentiment: Despite the analyst upgrades, AbbVie was recently reported as having moved lower in trading, suggesting the stock is still contending with profit-taking or broader market pressure. AbbVie stock drops despite market gains
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a routine transaction that may support AbbVie’s drug-delivery capabilities but is unlikely to move the stock on its own. West Pharmaceutical SmartDose sale to AbbVie

Analysts Set New Price Targets

A number of research firms recently weighed in on ABBV. Wells Fargo & Company increased their price objective on shares of AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday. Canaccord Genuity Group upped their target price on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Morgan Stanley raised their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada lifted their price target on AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a report on Friday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $262.81.

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.