AbbVie Inc. $ABBV Shares Acquired by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lifted its position in AbbVie Inc. (NYSE:ABBV) by 8.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 336,967 shares of the company’s stock after acquiring an additional 25,665 shares during the period. AbbVie makes up 1.2% of J. Safra Sarasin Holding AG’s investment portfolio, making the stock its 18th largest position. J. Safra Sarasin Holding AG’s holdings in AbbVie were worth $73,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ABBV. Chelsea Counsel Co. acquired a new position in AbbVie in the third quarter worth $26,000. Litman Gregory Wealth Management LLC bought a new stake in AbbVie during the fourth quarter valued at $28,000. Westend Capital Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $29,000. Imprint Wealth LLC raised its holdings in shares of AbbVie by 56.2% during 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, Legacy Wealth Managment LLC ID lifted its position 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 buying an additional 73 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Piper Sandler reissued an “overweight” rating and issued a $298.00 target price on shares of AbbVie in a report on Tuesday, June 23rd. Guggenheim lifted their target price on AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley upped their target price on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Bank of America increased their price target on AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $262.81.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Bank of America raised AbbVie’s price target to $276 from $234 and reiterated a buy rating, signaling confidence in additional upside for the shares. Bank of America raises AbbVie price target
• Positive Sentiment: RBC Capital also increased its price target to $280 from $260 and kept an outperform rating, adding to the wave of analyst support. RBC raises AbbVie price target
• Positive Sentiment: JPMorgan likewise lifted its target to $280 from $260 and maintained an overweight rating, reinforcing a favorable near-term outlook for AbbVie. JPMorgan raises AbbVie price target
• Neutral Sentiment: Recent coverage comparing Johnson & Johnson and AbbVie highlighted how both pharma giants’ latest quarterly results are shaping income-investor preferences, but it did not point to a clear new catalyst for AbbVie. Johnson & Johnson vs AbbVie article
• Neutral Sentiment: AbbVie also appeared in an industry piece on the expanding cystic fibrosis market, which may be supportive of long-term therapeutic demand but is not an immediate stock-moving event. Cystic fibrosis market article
• Negative Sentiment: Despite the analyst upgrades, AbbVie was recently reported as having moved lower in trading, suggesting the stock is still contending with profit-taking or broader market pressure. AbbVie stock drops despite market gains
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a routine transaction that may support AbbVie’s drug-delivery capabilities but is unlikely to move the stock on its own. West Pharmaceutical SmartDose sale to AbbVie

AbbVie Stock Down 0.0%

AbbVie stock opened at $248.00 on Monday. AbbVie Inc. has a 52-week low of $184.63 and a 52-week high of $261.64. The firm has a market capitalization of $438.17 billion, a price-to-earnings ratio of 122.17, a PEG ratio of 0.81 and a beta of 0.30. The firm has a 50-day moving average price of $225.42 and a two-hundred day moving average price of $221.20.

AbbVie (NYSE:ABBV) last announced 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%. AbbVie’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $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. Investors of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 340.89%.

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.