Sigma Planning Corp Has $12.36 Million Position in AbbVie Inc. $ABBV

Sigma Planning Corp lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,826 shares of the company’s stock after selling 2,478 shares during the period. Sigma Planning Corp’s holdings in AbbVie were worth $12,359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC boosted its position in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of 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 period. Schnieders Capital Management LLC. lifted its position in shares of AbbVie by 5.0% in 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 in the last quarter. Ieq Capital LLC lifted its position in shares of AbbVie by 4.6% in the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its holdings in shares of 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 purchasing an additional 612,702 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Guggenheim increased their price objective on AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. UBS Group lifted their price objective on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.24.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: BMO Capital Markets raised its price target on AbbVie to $300 from $258 and kept an outperform rating, signaling confidence in further upside for the shares.
• Positive Sentiment: Traders bought far more AbbVie call options than usual, suggesting some investors are positioning for a rebound or expecting a near-term catalyst.
• Positive Sentiment: AbbVie’s Allergan Aesthetics unit said SkinMedica is expanding its commitment to regenerative science, including more R&D investment and new advisory support, which reinforces AbbVie’s pipeline and innovation narrative. SkinMedica® Deepens Commitment to Regenerative Science with Continued Investment in Research and Development
• Positive Sentiment: Reports that AbbVie’s pharmaceutical project in Durham is moving forward point to continued operational expansion and investment.
• Neutral Sentiment: Analyst commentary from Zacks discussed whether AbbVie is a buy as Wall Street remains optimistic, but it did not introduce a new material corporate event. Is AbbVie (ABBV) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: AbbVie-related community and employee engagement updates in Asia are unlikely to move the stock much in the near term.
• Negative Sentiment: The stock has continued to slide for a seventh straight session, suggesting momentum has remained weak even with supportive analyst and options activity.
• Negative Sentiment: Broader sector concerns about big pharma’s looming patent-expiration problem may keep pressure on AbbVie and other drugmakers as investors focus on future revenue replacement needs.

AbbVie Trading Down 1.3%

NYSE:ABBV opened at $244.75 on Wednesday. The firm has a market capitalization of $432.42 billion, a PE ratio of 120.57, a PEG ratio of 0.82 and a beta of 0.30. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64. The firm’s fifty day simple moving average is $226.92 and its 200 day simple moving average is $221.44.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The business’s revenue was up 12.4% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 14.22 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s payout ratio is currently 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.