Harbour Wealth Management Group Inc. acquired a new stake in AbbVie Inc. (NYSE:ABBV – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,121 shares of the company’s stock, valued at approximately $713,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Chelsea Counsel Co. acquired a new position in shares of AbbVie in the 3rd quarter worth approximately $26,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at approximately $28,000. Westend Capital Management LLC bought a new position in AbbVie during the fourth quarter worth $29,000. Imprint Wealth LLC boosted its holdings in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares during the period. Finally, Texas Capital Bancshares Inc TX bought a new stake in AbbVie during the third quarter valued at $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on ABBV shares. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Royal Bank Of Canada initiated coverage on AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price target on shares of AbbVie in a report on Thursday, April 30th. Finally, Canaccord Genuity Group boosted their price objective on AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $253.43.
Trending Headlines about AbbVie
Here are the key news stories impacting AbbVie this week:
- Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
- Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
- Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
- Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
- Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients
AbbVie Stock Down 2.1%
AbbVie stock opened at $216.63 on Friday. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81. The firm has a market capitalization of $382.74 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 0.68 and a beta of 0.32. The firm has a 50-day moving average price of $212.08 and a two-hundred day moving average price of $218.78.
AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The company 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 for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 earnings per share. Research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current year.
AbbVie Announces Dividend
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 paid a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 3.2%. AbbVie’s payout ratio is presently 340.89%.
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.
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