BCS Wealth Management Reduces Stock Holdings in AbbVie Inc. $ABBV

BCS Wealth Management lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 48.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,025 shares of the company’s stock after selling 2,827 shares during the quarter. BCS Wealth Management’s holdings in AbbVie were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ABBV. Chelsea Counsel Co. purchased a new position in shares of AbbVie in the 3rd quarter valued at $26,000. Litman Gregory Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth $28,000. Westend Capital Management LLC purchased a new stake in AbbVie in the fourth quarter valued at $29,000. Imprint Wealth LLC lifted its position in AbbVie by 56.2% in the fourth 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 last quarter. Finally, Texas Capital Bancshares Inc TX acquired a new position in AbbVie in the third quarter valued at $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ABBV shares. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Morgan Stanley boosted their target price on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Wells Fargo & Company set a $260.00 price target on AbbVie in a research note on Monday. Finally, Guggenheim reaffirmed a “buy” rating and set a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $253.81.

AbbVie Stock Up 0.0%

ABBV opened at $234.79 on Thursday. AbbVie Inc. has a 52 week low of $181.73 and a 52 week high of $244.81. The business has a 50 day moving average price of $213.64 and a two-hundred day moving average price of $218.83. The company has a market cap of $414.83 billion, a PE ratio of 115.66, a P/E/G ratio of 0.72 and a beta of 0.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $2.46 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 14.3 EPS for the current fiscal 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 given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is 340.89%.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie announced European Commission approval of SKYRIZI for pediatric plaque psoriasis, expanding the drug’s addressable market into younger patients and adding a new dosing option. Article Title
• Positive Sentiment: AbbVie also received EU approval for MAVIRET in acute hepatitis C, strengthening an already approved franchise and broadening its use in Europe. Article Title
• Positive Sentiment: AbbVie expanded its pipeline with a new early-stage bretisilocin Phase 1 safety study, signaling continued investment in future growth assets. Article Title
• Neutral Sentiment: Multiple market articles highlighted AbbVie as a potential value/dividend buy and noted analyst price-target support, which may reinforce investor confidence but does not by itself change fundamentals. Article Title
• Neutral Sentiment: Several pieces focused on the broader M&A narrative and the Apogee takeover process, including shareholder scrutiny and investor commentary, which keeps attention on execution risk around the deal. Article Title

About AbbVie

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.