AbbVie Inc. $ABBV Shares Sold by Brookstone Capital Management

Brookstone Capital Management reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 2.7% during the first quarter, Holdings Channel reports. The firm owned 88,934 shares of the company’s stock after selling 2,480 shares during the period. Brookstone Capital Management’s holdings in AbbVie were worth $19,342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Campbell Newman Asset Management Inc. boosted its holdings in AbbVie by 1.6% during the first quarter. Campbell Newman Asset Management Inc. now owns 165,389 shares of the company’s stock worth $35,970,000 after buying an additional 2,630 shares in the last quarter. Everstar Asset Management LLC increased its holdings in shares of AbbVie by 2.7% in the first quarter. Everstar Asset Management LLC now owns 4,873 shares of the company’s stock valued at $1,060,000 after buying an additional 128 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in shares of AbbVie by 0.4% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 31,491 shares of the company’s stock valued at $6,849,000 after buying an additional 111 shares in the last quarter. jvl associates llc lifted its position in shares of AbbVie by 4.7% during the 1st quarter. jvl associates llc now owns 1,200 shares of the company’s stock valued at $261,000 after acquiring an additional 54 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC lifted its position in shares of AbbVie by 2.4% during the 1st quarter. Warren Street Wealth Advisors LLC now owns 3,464 shares of the company’s stock valued at $753,000 after acquiring an additional 81 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $240.00 target price on shares of AbbVie in a report on Thursday, April 30th. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Piper Sandler increased their price target on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.43.

AbbVie Stock Up 6.3%

Shares of NYSE:ABBV opened at $230.10 on Tuesday. The company’s fifty day moving average is $212.53 and its two-hundred day moving average is $218.76. The company has a market cap of $406.54 billion, a P/E ratio of 113.35, a price-to-earnings-growth ratio of 0.66 and a beta of 0.32. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 EPS 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 business had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter last year, the firm posted $2.46 earnings per share. AbbVie’s revenue was up 12.4% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Expands AbbVie’s immunology franchise with late-stage assets that may help offset future patent and revenue pressures. Reuters: AbbVie strikes $10.9 billion deal for Apogee Therapeutics
• Positive Sentiment: Supports confidence in AbbVie’s ability to keep growing beyond Humira, helped by strength in newer drugs like Skyrizi and Rinvoq. Quiver Quant: AbbVie gains as investors weigh stronger growth outlook and recent pipeline wins
• Neutral Sentiment: Analysts and media outlets are framing the transaction as strategic, but the size of the deal also adds integration and execution risk. WSJ: AbbVie to Buy Apogee Therapeutics for $10.9 Billion in Cash
• Neutral Sentiment: AbbVie also received attention for recent product news, including FDA approval for Allergan Aesthetics’ Skinvive by Juvéderm, which adds another modest positive backdrop. Yahoo Finance: AbbVie’s Allergan Aesthetics Wins FDA Approval for Skinvive by Juvederm

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.