Aware Super Pty Ltd as trustee of Aware Super Invests $18.63 Million in AbbVie Inc. $ABBV

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 85,652 shares of the company’s stock, valued at approximately $18,628,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Chelsea Counsel Co. bought a new stake in AbbVie during the third quarter worth $26,000. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $28,000. Westend Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $29,000. Imprint Wealth LLC increased its stake 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 purchasing an additional 45 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID increased its stake in shares of AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 4.2%

AbbVie stock opened at $254.29 on Friday. The company’s 50-day moving average price is $228.73 and its two-hundred day moving average price is $221.71. The stock has a market cap of $449.28 billion, a P/E ratio of 125.27, a P/E/G ratio of 0.81 and a beta of 0.30. AbbVie Inc. has a twelve month low of $184.63 and a twelve month high of $261.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 14.18 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s payout ratio is 340.89%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABBV. Bank of America upped their target price on shares of AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a report on Friday, July 10th. UBS Group lifted their price target on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. HSBC restated a “buy” rating and issued a $300.00 price objective on shares of AbbVie in a research note on Monday, July 6th. Finally, BMO Capital Markets raised their price objective on AbbVie from $258.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $267.67.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s neuroscience business is expected to post solid Q2 growth, with key brands and Vyalev in focus ahead of earnings on July 31. Will AbbVie’s Neuroscience Franchise Deliver Another Strong Quarter?
• Positive Sentiment: Multiple analysts have recently raised price targets or kept a constructive view on ABBV, reinforcing confidence in the company’s post-Humira growth strategy and pipeline. AbbVie Inc. (NYSE:ABBV) Receives Average Recommendation of “Moderate Buy” from Brokerages
• Positive Sentiment: Investors are also responding to recent regulatory updates for RINVOQ in severe alopecia areata and a subcutaneous induction option for SKYRIZI in Crohn’s disease, which highlight additional growth drivers. AbbVie regulatory submissions update
• Positive Sentiment: AbbVie has also been the subject of upbeat technical and valuation-focused coverage, with commentary pointing to strong momentum and continued investor interest after a multi-year run. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: One article questioned whether AbbVie is fully valued after Tepkinly, but it did not signal a clear bearish catalyst. Is AbbVie (NYSE:ABBV) Fully Valued After Tepkinly?
• Neutral Sentiment: AbbVie’s stock has also drawn attention from traders and long-term holders as they wait for earnings and updates on its pipeline and guidance. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It

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.