Acumen Wealth Advisors LLC Acquires 3,081 Shares of AbbVie Inc. $ABBV

Acumen Wealth Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 270.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,221 shares of the company’s stock after acquiring an additional 3,081 shares during the period. Acumen Wealth Advisors LLC’s holdings in AbbVie were worth $918,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in AbbVie by 13.7% in the first quarter. First Trust Advisors LP now owns 1,519,986 shares of the company’s stock worth $330,582,000 after purchasing an additional 183,488 shares in the last quarter. Fortis Capital Management LLC boosted its holdings in AbbVie by 5.6% during the first quarter. Fortis Capital Management LLC now owns 7,180 shares of the company’s stock valued at $1,561,000 after purchasing an additional 380 shares in the last quarter. CacheTech Inc. grew its stake in shares of AbbVie by 7.0% in the 1st quarter. CacheTech Inc. now owns 2,965 shares of the company’s stock valued at $645,000 after purchasing an additional 195 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of AbbVie in the 1st quarter valued at approximately $18,896,000. Finally, Bellwether Advisors LLC raised its holdings in shares of AbbVie by 39.1% in the 1st quarter. Bellwether Advisors LLC now owns 31,607 shares of the company’s stock worth $6,874,000 after buying an additional 8,890 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 1.1%

AbbVie stock opened at $256.18 on Wednesday. AbbVie Inc. has a 1 year low of $184.90 and a 1 year high of $261.64. The company’s 50-day moving average is $231.78 and its two-hundred day moving average is $222.23. The company has a market cap of $452.62 billion, a PE ratio of 126.20, a PEG ratio of 0.84 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping 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 business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts forecast that AbbVie Inc. will post 14.18 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 2.7%. AbbVie’s payout ratio is presently 340.89%.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s stock has been outperforming the broader market, with recent trading strength reinforcing investor confidence in the name. AbbVie (ABBV) Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: Analysts at Erste Group Bank reportedly raised earnings estimates for AbbVie, which can support the shares if investors expect stronger profit growth ahead. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Positive Sentiment: AbbVie said its ABBV-8736 injection study showed “quiet but meaningful” pipeline progress, adding another sign that its drug development efforts are advancing. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: A recent bullish article argued AbbVie looks like a strong buy-and-hold candidate, reflecting generally constructive sentiment around the stock. 3 Reasons to Buy AbbVie Stock Like There’s No Tomorrow
• Neutral Sentiment: A separate article discussed broader biotech and healthcare market trends, but it does not appear to have a direct company-specific impact on AbbVie. Biotech IPOs Surge 55% as AI Listings Lose Momentum
• Neutral Sentiment: Another article questioned whether AbbVie is leaving eye care, but the available headline alone does not indicate a clear financial impact. BLOG: Exit stage left: Is AbbVie leaving eye care?
• Neutral Sentiment: Coverage of AbbVie’s $10.9 billion Apogee acquisition focused on potential dividend effects, but the headline suggests investors are mainly evaluating the deal rather than reacting to a fresh negative catalyst. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABBV. HSBC reaffirmed a “buy” rating and issued a $300.00 price target on shares of AbbVie in a research note on Monday, July 6th. Guggenheim increased their price objective on AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Canaccord Genuity Group upped their target price on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $267.67.

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.