AbbVie Inc. $ABBV Shares Sold by Triglav Investments D.O.O.

Triglav Investments D.O.O. lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 55.5% in the first quarter, HoldingsChannel.com reports. The firm owned 23,600 shares of the company’s stock after selling 29,452 shares during the period. Triglav Investments D.O.O.’s holdings in AbbVie were worth $5,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. J. Safra Sarasin Holding AG grew its holdings in shares of AbbVie by 8.2% during the first quarter. J. Safra Sarasin Holding AG now owns 336,967 shares of the company’s stock valued at $73,252,000 after purchasing an additional 25,665 shares during the last quarter. Applied Finance Capital Management LLC boosted its position in AbbVie by 0.6% during the 1st quarter. Applied Finance Capital Management LLC now owns 30,071 shares of the company’s stock valued at $6,540,000 after purchasing an additional 177 shares during the period. Lifeworks Advisors LLC grew its stake in AbbVie by 6.5% during the 1st quarter. Lifeworks Advisors LLC now owns 39,697 shares of the company’s stock worth $8,634,000 after buying an additional 2,436 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in AbbVie by 4.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 290,591 shares of the company’s stock worth $63,201,000 after buying an additional 12,000 shares during the period. Finally, Procyon Advisors LLC lifted its stake in AbbVie by 0.3% in the first quarter. Procyon Advisors LLC now owns 32,839 shares of the company’s stock valued at $7,142,000 after buying an additional 87 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.0%

Shares of AbbVie stock opened at $248.00 on Monday. The stock has a 50-day moving average price of $225.42 and a 200 day moving average price of $221.20. The company has a market cap of $438.17 billion, a P/E ratio of 122.17, a P/E/G ratio of 0.81 and a beta of 0.30. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64.

AbbVie (NYSE:ABBV) last posted 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. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same period in the previous year, the company posted $2.46 EPS. AbbVie’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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 paid a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. AbbVie’s dividend payout ratio is 340.89%.

Key Headlines Impacting 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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Canaccord Genuity Group upped their target price on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research report on Tuesday, June 23rd. Piper Sandler restated an “overweight” rating and issued a $298.00 target price on shares of AbbVie in a research report on Tuesday, June 23rd. HSBC reiterated a “buy” rating and set a $300.00 price target on shares of AbbVie in a research report on Monday, July 6th. Finally, Evercore set a $235.00 price target on AbbVie in a report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.81.

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.