AbbVie Inc. $ABBV Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 11.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 182,001 shares of the company’s stock after purchasing an additional 18,381 shares during the quarter. Carnegie Investment Counsel’s holdings in AbbVie were worth $37,523,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several research firms have commented on ABBV. Royal Bank Of Canada raised their price objective on AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Guggenheim raised their price target on shares of AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their target price on AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday. Two equities research 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. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $262.81.

Key Stories Impacting 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

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $1.91 during midday trading on Friday, hitting $248.00. 5,780,723 shares of the stock were exchanged, compared to its average volume of 8,942,850. The company has a market capitalization of $438.17 billion, a PE ratio of 122.17, a P/E/G ratio of 0.81 and a beta of 0.30. AbbVie Inc. has a 52-week low of $184.63 and a 52-week high of $261.64. The business’s fifty day simple moving average is $225.42 and its two-hundred day simple moving average is $221.25.

AbbVie (NYSE:ABBV) last issued its earnings results 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 company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the firm posted $2.46 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Dividend Announcement

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

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.