27,001 Shares in AbbVie Inc. $ABBV Bought by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, HoldingsChannel.com reports. The firm bought 27,001 shares of the company’s stock, valued at approximately $5,629,000. AbbVie accounts for approximately 4.6% of Arbor Capital Management Inc. ADV’s holdings, making the stock its biggest holding.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in AbbVie in the 4th quarter valued at about $5,865,055,000. Wellington Management Group LLP lifted its holdings in shares of AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after purchasing an additional 8,646,424 shares in the last quarter. Capital World Investors lifted its holdings in shares of AbbVie by 106.3% in the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after purchasing an additional 6,736,161 shares in the last quarter. Cardano Risk Management B.V. grew its position in shares of AbbVie by 914.6% in the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock valued at $1,244,112,000 after purchasing an additional 4,908,260 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Bank of America raised AbbVie’s price target to $276 from $234 and reiterated a buy rating, signaling confidence in additional upside for the shares. Bank of America raises AbbVie price target
• Positive Sentiment: RBC Capital also increased its price target to $280 from $260 and kept an outperform rating, adding to the wave of analyst support. RBC raises AbbVie price target
• Positive Sentiment: JPMorgan likewise lifted its target to $280 from $260 and maintained an overweight rating, reinforcing a favorable near-term outlook for AbbVie. JPMorgan raises AbbVie price target
• Neutral Sentiment: Recent coverage comparing Johnson & Johnson and AbbVie highlighted how both pharma giants’ latest quarterly results are shaping income-investor preferences, but it did not point to a clear new catalyst for AbbVie. Johnson & Johnson vs AbbVie article
• Neutral Sentiment: AbbVie also appeared in an industry piece on the expanding cystic fibrosis market, which may be supportive of long-term therapeutic demand but is not an immediate stock-moving event. Cystic fibrosis market article
• Negative Sentiment: Despite the analyst upgrades, AbbVie was recently reported as having moved lower in trading, suggesting the stock is still contending with profit-taking or broader market pressure. AbbVie stock drops despite market gains
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a routine transaction that may support AbbVie’s drug-delivery capabilities but is unlikely to move the stock on its own. West Pharmaceutical SmartDose sale to AbbVie

AbbVie Stock Performance

ABBV stock opened at $248.00 on Friday. The company has a 50 day moving average price of $225.42 and a two-hundred day moving average price of $221.25. The stock has a market capitalization of $438.17 billion, a P/E ratio of 122.17, a PEG ratio of 0.81 and a beta of 0.30. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 earnings per share. Research analysts forecast that AbbVie Inc. will post 14.39 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors 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 annualized dividend and a yield of 2.8%. AbbVie’s dividend payout ratio is 340.89%.

Analyst Ratings Changes

Several research firms have weighed in on ABBV. Bank of America raised their price target on AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research report on Friday. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Canaccord Genuity Group lifted their price objective on AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Finally, Cantor Fitzgerald boosted their target price on shares of AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $262.81.

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.