Andra AP fonden Acquires 86,969 Shares of AbbVie Inc. $ABBV

Andra AP fonden increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 44.2% in the 1st quarter, HoldingsChannel reports. The firm owned 283,811 shares of the company’s stock after acquiring an additional 86,969 shares during the period. AbbVie makes up approximately 0.8% of Andra AP fonden’s holdings, making the stock its 18th largest holding. Andra AP fonden’s holdings in AbbVie were worth $61,726,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust grew its position in shares of AbbVie by 0.6% during the 4th 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 position 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 during the period. Imprint Wealth LLC lifted 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 valued at $29,000 after acquiring an additional 45 shares during the period. Hardin Capital Partners LLC boosted its stake in AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after acquiring an additional 46 shares in the last quarter. Finally, Dogwood Wealth Management LLC grew its holdings in AbbVie by 10.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock worth $108,000 after purchasing an additional 46 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $298.00 price target on shares of AbbVie in a research note on Tuesday, June 23rd. Cantor Fitzgerald increased their price objective on shares of AbbVie from $240.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Citigroup upped their price target on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, UBS Group increased their price target on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. 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’s stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $267.67.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reported quiet but meaningful pipeline progress in its ABBV-8736 injection study, which could support longer-term growth expectations if the program continues to advance. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: Some coverage says AbbVie should be able to preserve its dividend even after the $10.9 billion Apogee acquisition because the deal is being funded with debt rather than cash, reducing immediate pressure on reserves. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?
• Neutral Sentiment: Broker coverage and article commentary pointed to higher earnings estimates for AbbVie, but also noted the stock may be stretched versus its growth outlook, leaving the market split on whether upside is already priced in. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Neutral Sentiment: Broader pharma commentary placed AbbVie alongside other large drugmakers and suggested it has outperformed the S&P 500, but also described its valuation as relatively elevated compared with growth expectations. 3 Biggest Pharma Giants: Buy, Sell or Hold?
• Negative Sentiment: Some market commentary around AbbVie’s eye-care exposure raised questions about whether the company is pulling back from that segment, which could signal strategic uncertainty for part of its portfolio. BLOG: Exit stage left: Is AbbVie leaving eye care?

AbbVie Stock Down 0.4%

Shares of AbbVie stock opened at $253.37 on Tuesday. The company has a market cap of $447.66 billion, a PE ratio of 124.81, a price-to-earnings-growth ratio of 0.84 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 has a 50 day moving average price of $230.81 and a 200-day moving average price of $222.04.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (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 company had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 14.18 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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 dividend yield of 2.7%. AbbVie’s dividend payout ratio is presently 340.89%.

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.