Commerzbank Aktiengesellschaft FI cut its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 9.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,061 shares of the company’s stock after selling 7,351 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in AbbVie were worth $15,673,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $28,000. Imprint Wealth LLC boosted its stake in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares during the last quarter. Westend Capital Management LLC purchased a new stake in AbbVie in the 4th quarter valued at $29,000. IFC & Insurance Marketing Inc. purchased a new stake in AbbVie in the 4th quarter valued at $31,000. Finally, Legacy Wealth Managment LLC ID increased its stake in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on ABBV. Citigroup lifted their price target on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research report on Tuesday, June 23rd. Wells Fargo & Company lifted their target price on shares of AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Royal Bank Of Canada boosted their target price on shares of AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Finally, Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 5th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $267.67.
AbbVie Stock Down 0.4%
ABBV opened at $253.37 on Tuesday. AbbVie Inc. has a 52 week low of $184.63 and a 52 week high of $261.64. The business has a fifty day simple moving average of $230.81 and a 200-day simple moving average of $222.04. The firm has a market cap of $447.66 billion, a P/E ratio of 124.81, a P/E/G ratio of 0.84 and a beta of 0.30.
AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results 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 company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS. Sell-side analysts expect that AbbVie Inc. will post 14.18 earnings per share for the current year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.
More AbbVie News
Here are the key news stories impacting AbbVie this week:
- Positive Sentiment: AbbVie reported quiet but meaningful pipeline progress in its ABBV-8736 injection study, which could support longer-term growth expectations if the program continues to advance. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
- Positive Sentiment: Some coverage says AbbVie should be able to preserve its dividend even after the $10.9 billion Apogee acquisition because the deal is being funded with debt rather than cash, reducing immediate pressure on reserves. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?
- Neutral Sentiment: Broker coverage and article commentary pointed to higher earnings estimates for AbbVie, but also noted the stock may be stretched versus its growth outlook, leaving the market split on whether upside is already priced in. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
- Neutral Sentiment: Broader pharma commentary placed AbbVie alongside other large drugmakers and suggested it has outperformed the S&P 500, but also described its valuation as relatively elevated compared with growth expectations. 3 Biggest Pharma Giants: Buy, Sell or Hold?
- Negative Sentiment: Some market commentary around AbbVie’s eye-care exposure raised questions about whether the company is pulling back from that segment, which could signal strategic uncertainty for part of its portfolio. BLOG: Exit stage left: Is AbbVie leaving eye care?
AbbVie 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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