Miller Howard Investments Inc. NY reduced its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 397,998 shares of the company’s stock after selling 3,294 shares during the quarter. AbbVie comprises about 2.4% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 6th largest holding. Miller Howard Investments Inc. NY’s holdings in AbbVie were worth $86,560,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of AbbVie in the fourth quarter worth $5,865,055,000. Wellington Management Group LLP lifted its stake in shares of AbbVie by 457.4% during the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after buying an additional 8,646,424 shares during the period. Capital World Investors grew its holdings in shares of AbbVie by 106.3% during the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after buying an additional 6,736,161 shares during the last quarter. Cardano Risk Management B.V. grew its holdings in shares of AbbVie by 914.6% during 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 buying an additional 4,908,260 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.
Key AbbVie News
Here are the key news stories impacting AbbVie this week:
- Positive Sentiment: AbbVie announced European Commission approval of SKYRIZI for pediatric plaque psoriasis, expanding the drug’s addressable market into younger patients and adding a new dosing option. Article Title
- Positive Sentiment: AbbVie also received EU approval for MAVIRET in acute hepatitis C, strengthening an already approved franchise and broadening its use in Europe. Article Title
- Positive Sentiment: AbbVie expanded its pipeline with a new early-stage bretisilocin Phase 1 safety study, signaling continued investment in future growth assets. Article Title
- Neutral Sentiment: Multiple market articles highlighted AbbVie as a potential value/dividend buy and noted analyst price-target support, which may reinforce investor confidence but does not by itself change fundamentals. Article Title
- Neutral Sentiment: Several pieces focused on the broader M&A narrative and the Apogee takeover process, including shareholder scrutiny and investor commentary, which keeps attention on execution risk around the deal. Article Title
AbbVie Price Performance
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.46 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 14.3 EPS for the current year.
AbbVie Dividend Announcement
The business also recently announced 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 is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie’s dividend payout ratio is presently 340.89%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on ABBV shares. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Piper Sandler reiterated an “overweight” rating and set a $298.00 price target on shares of AbbVie in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of AbbVie in a report on Tuesday. Morgan Stanley raised their price objective on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $253.81.
Get Our Latest Stock Report on ABBV
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.
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