BXM Wealth LLC Lowers Holdings in AbbVie Inc. $ABBV

BXM Wealth LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 49.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,778 shares of the company’s stock after selling 3,674 shares during the period. BXM Wealth LLC’s holdings in AbbVie were worth $822,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ABBV. Brighton Jones LLC increased its holdings in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. lifted its holdings in shares of AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock valued at $3,056,000 after purchasing an additional 789 shares in the last quarter. Ieq Capital LLC boosted its position in shares of AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock valued at $22,281,000 after buying an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its position in shares of AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after buying an additional 612,702 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reported positive Phase 3 results for epcoritamab plus lenalidomide in relapsed/refractory diffuse large B-cell lymphoma, with the trial meeting its primary endpoint and showing a clinically meaningful improvement in progression-free survival. Article Title
• Positive Sentiment: The European Medicines Agency CHMP issued positive opinions for Rinvoq (upadacitinib) in severe alopecia areata and non-segmental vitiligo, increasing the odds of future EU approvals and expanding AbbVie’s dermatology franchise. Article Title
• Positive Sentiment: The FDA approved Skyrizi for pediatric psoriasis, broadening the drug’s label and supporting further sales growth in AbbVie’s immunology business. Article Title
• Positive Sentiment: AbbVie also received a $100 million milestone-related payment tied to REGENXBIO’s diabetic retinopathy program, signaling continued progress in partnered ophthalmology assets. Article Title
• Neutral Sentiment: AbbVie is set to trade ex-dividend on July 15, which may attract income-focused investors but is generally a routine calendar event rather than a new catalyst. Article Title
• Neutral Sentiment: Recent commentary noted AbbVie’s shares have hit new 52-week highs and have been supported by strong earnings revisions, but this is more a reflection of recent momentum than a fresh company-specific event. Article Title

AbbVie Trading Up 0.2%

ABBV opened at $253.86 on Tuesday. The firm’s 50 day simple moving average is $216.06 and its two-hundred day simple moving average is $219.38. The company has a market capitalization of $448.52 billion, a PE ratio of 125.06, a PEG ratio of 0.77 and a beta of 0.32. AbbVie Inc. has a 1-year low of $181.75 and a 1-year high of $255.99.

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, beating analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 EPS. Equities analysts forecast that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

Analysts Set New Price Targets

ABBV has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Canaccord Genuity Group boosted their price objective on shares of AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley boosted their target price on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.81.

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.