Compound Planning Inc. Purchases 25,534 Shares of AbbVie Inc. $ABBV

Compound Planning Inc. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 135.8% during the 4th quarter, HoldingsChannel reports. The fund owned 44,341 shares of the company’s stock after purchasing an additional 25,534 shares during the quarter. Compound Planning Inc.’s holdings in AbbVie were worth $10,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Chelsea Counsel Co. acquired a new position in AbbVie during the 3rd quarter valued at about $26,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $28,000. Westend Capital Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $29,000. Imprint Wealth LLC raised its stake 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 buying an additional 45 shares during the last quarter. Finally, Texas Capital Bancshares Inc TX bought a new stake in shares of AbbVie during the third quarter worth approximately $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

AbbVie Price Performance

AbbVie stock opened at $216.63 on Friday. The firm has a market capitalization of $382.74 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 0.68 and a beta of 0.32. The company’s 50 day simple moving average is $212.08 and its 200 day simple moving average is $218.78. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last issued its 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 firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. As a group, analysts predict that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company 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 $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 3.2%. AbbVie’s dividend payout ratio is currently 340.89%.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. Piper Sandler increased their price objective on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. William Blair reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Finally, Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

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.