Cardano Risk Management B.V. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 90.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 536,670 shares of the company’s stock after selling 4,908,260 shares during the period. AbbVie accounts for 1.2% of Cardano Risk Management B.V.’s investment portfolio, making the stock its 22nd largest holding. Cardano Risk Management B.V.’s holdings in AbbVie were worth $124,260,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in ABBV. Brighton Jones LLC raised 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 valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its stake in AbbVie by 72.7% in the 4th 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 during the last quarter. Schnieders Capital Management LLC. grew its holdings in AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after purchasing an additional 789 shares during the period. Ieq Capital LLC increased its position in AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after buying an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its position in AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after buying an additional 612,702 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.
Analyst Upgrades and Downgrades
ABBV has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Wells Fargo & Company set a $260.00 target price on AbbVie in a report on Monday. Evercore set a $235.00 price target on AbbVie in a research note on Friday, May 15th. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target for the company in a report on Thursday, April 30th. Finally, Canaccord Genuity Group lifted their price objective on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $253.81.
AbbVie Price Performance
Shares of NYSE:ABBV opened at $243.65 on Friday. The business’s 50 day simple moving average is $214.30 and its 200 day simple moving average is $218.96. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81. The company has a market capitalization of $430.47 billion, a P/E ratio of 120.02, a P/E/G ratio of 0.72 and a beta of 0.32.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $15 billion during 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 company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.29 EPS for the current fiscal year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s payout ratio is 340.89%.
Key Stories Impacting AbbVie
Here are the key news stories impacting AbbVie this week:
- Positive Sentiment: Canaccord raised its price target on AbbVie to $273 from $265 and reiterated a Buy rating, saying the Apogee acquisition improves AbbVie’s long-term growth outlook. Canaccord Says AbbVie’s (ABBV) Apogee Deal Strengthens Long-Term Growth Outlook
- Positive Sentiment: AbbVie’s Apogee deal is being viewed as a potentially accretive immunology bet, with articles highlighting the chance to add a prospective blockbuster asset and boost future revenue growth. AbbVie Just Sparked a 46% Rally in Apogee. Here’s Why This $10.9 Billion Deal Could Be a Win for AbbVie Investors.
- Positive Sentiment: AbbVie also expanded its pipeline by launching a new Phase 1 safety study for bretisilocin, adding another early-stage growth opportunity. AbbVie Expands Pipeline With New Bretisilocin Phase 1 Safety Study
- Positive Sentiment: AbbVie received EU approval for Skyrizi in pediatric plaque psoriasis, expanding the drug’s addressable market and supporting its immunology franchise. AbbVie Gets EU Nod for Skyrizi in Pediatric Plaque Psoriasis
- Neutral Sentiment: Several lifestyle and brand-related items highlighted Allergan Aesthetics and BOTOX® Cosmetic initiatives, including Formula Wellness earning Top 50 status and the Confidence Collective entrepreneur program. These reinforce AbbVie’s consumer aesthetics presence, but are unlikely to move the stock materially on their own. Formula Wellness Earns Top 50 Status for 2026 from Allergan Aesthetics
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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