Wealthfront Advisers LLC Has $39.79 Million Position in AbbVie Inc. $ABBV

Wealthfront Advisers LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,934 shares of the company’s stock after acquiring an additional 2,931 shares during the quarter. Wealthfront Advisers LLC’s holdings in AbbVie were worth $39,786,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Chelsea Counsel Co. bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $28,000. Imprint Wealth LLC lifted its position in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares during the period. Westend Capital Management LLC acquired a new stake in AbbVie in the 4th quarter valued at $29,000. Finally, IFC & Insurance Marketing Inc. acquired a new stake in AbbVie in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s long-term safety and efficacy extension data for Bimatoprost SR could strengthen the case for its glaucoma pipeline if results continue to show durable safety and benefit. AbbVie’s Bimatoprost SR Extension Data: Why Long-Term Glaucoma Safety Matters for Investors
• Positive Sentiment: Analyst commentary highlighted confidence in AbbVie’s ability to replace Humira revenue, with Skyrizi and Rinvoq helping ease concerns about the company’s long-term earnings outlook. Should You Buy, Sell or Hold ABBV Stock After Its 9% YTD Rise?
• Positive Sentiment: AbbVie has also been described as a trending stock, suggesting elevated investor attention that can reinforce momentum in the shares. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Separate technical coverage pointed to a bullish “golden cross” setup, which may be encouraging traders looking for continued upside momentum in AbbVie. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: AbbVie was the target of unusually heavy call-option buying, which shows speculation and near-term trading interest but does not by itself confirm fundamental strength.
• Neutral Sentiment: Some valuation-focused commentary said the stock may be fully priced after its multi-year run, which could temper enthusiasm even as the growth story remains intact. AbbVie (ABBV) Stock Looks Fully Priced After A 152% Run
• Negative Sentiment: Reports that AbbVie has extended a slide for multiple sessions suggest some traders have been taking profits or reacting to valuation concerns in the near term. AbbVie extends slide to a seventh straight session

AbbVie Price Performance

Shares of NYSE:ABBV opened at $244.21 on Thursday. The stock has a market cap of $431.47 billion, a price-to-earnings ratio of 120.30, a P/E/G ratio of 0.81 and a beta of 0.30. The company has a 50 day moving average of $227.70 and a 200-day moving average of $221.54. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The business 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%.The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.46 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 14.22 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is currently 340.89%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Bank of America increased their price objective on AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. HSBC reaffirmed a “buy” rating and issued a $300.00 target price on shares of AbbVie in a report on Monday, July 6th. Morgan Stanley lifted their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Royal Bank Of Canada boosted their price target on shares of AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $267.67.

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.