Elevation Point Wealth Partners LLC Purchases 53,414 Shares of AbbVie Inc. $ABBV

Elevation Point Wealth Partners LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 157.7% during the first quarter, HoldingsChannel.com reports. The firm owned 87,277 shares of the company’s stock after buying an additional 53,414 shares during the period. Elevation Point Wealth Partners LLC’s holdings in AbbVie were worth $18,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ABBV. Chelsea Counsel Co. bought a new stake in AbbVie in the third quarter valued at about $26,000. Litman Gregory Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $28,000. Westend Capital Management LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $29,000. Imprint Wealth LLC boosted its stake in AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX acquired a new position in AbbVie during the third quarter worth $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie said its ongoing post-market study for CoolSculpting Elite supports the aesthetics franchise, bolstering the outlook for a business that can diversify revenue beyond core pharma. AbbVie’s CoolSculpting Elite Study Update Strengthens Aesthetics Outlook
• Positive Sentiment: AbbVie’s venetoclax data in chronic lymphocytic leukemia added to confidence in the company’s hematology pipeline and long-term commercialization potential. AbbVie Inc. (ABBV) Hits New Milestone with Venetoclax on Chronic Lymphocytic Leukemia (CLL) Treatment
• Positive Sentiment: Commentary around AbbVie as a top dividend and value stock continues to highlight its strong cash flow, income appeal, and recent operating momentum. 3 Dividend Stocks to Buy Hand Over Fist in July
• Neutral Sentiment: Several articles framed AbbVie as an attractive long-term portfolio holding versus peers like Johnson & Johnson, but these pieces were largely comparative and not direct new catalysts. J&J or AbbVie: Which Stock Deserves a Place in Your Portfolio Now?
• Neutral Sentiment: Analyst estimate revisions were mixed but only slightly trimmed FY2027 earnings expectations, suggesting no major change to the fundamental view.
• Positive Sentiment: Coverage around AbbVie’s Apogee acquisition also pointed to a broader strategic moat and pipeline expansion, which can support sentiment on the stock. AbbVie: Apogee Deal Just Widened An Already Dominant Moat

AbbVie Stock Performance

NYSE ABBV opened at $260.88 on Friday. The stock has a fifty day moving average of $218.98 and a 200-day moving average of $220.02. The stock has a market capitalization of $460.92 billion, a P/E ratio of 128.51, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. AbbVie Inc. has a 52 week low of $184.63 and a 52 week high of $261.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to analyst estimates 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 for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. AbbVie’s dividend payout ratio is presently 340.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Morgan Stanley upped their price objective on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $253.81.

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.