Evansbrook LLC Makes New Investment in AbbVie Inc. $ABBV

Evansbrook LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,482 shares of the company’s stock, valued at approximately $796,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after acquiring an additional 3,032,438 shares during the period. State Street Corp increased its holdings in shares of AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares during the period. Geode Capital Management LLC increased its holdings in shares of 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 during the period. Bank of America Corp DE raised its stake in shares of AbbVie by 1.4% during the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after purchasing an additional 356,394 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $5,865,055,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

AbbVie Trading Down 2.1%

ABBV stock opened at $216.63 on Friday. The company’s 50-day moving average price is $212.08 and its 200 day moving average price is $218.78. AbbVie Inc. has a 52 week low of $181.73 and a 52 week high of $244.81. The company has a market cap of $382.74 billion, a P/E ratio of 106.71, a P/E/G ratio of 0.68 and a beta of 0.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same period last year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed 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. This represents a $6.92 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABBV. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a research report on Thursday, April 30th. Cantor Fitzgerald restated an “overweight” rating and set a $240.00 price objective on shares of AbbVie in a research report on Thursday, April 30th. William Blair restated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Finally, Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

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.