Gerald Baker Financial Group LLC Takes Position in AbbVie Inc. $ABBV

Gerald Baker Financial Group LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,399 shares of the company’s stock, valued at approximately $2,044,000.

Several other institutional investors also recently modified their holdings of the business. Chelsea Counsel Co. purchased a new stake in AbbVie in the third quarter worth about $26,000. Litman Gregory Wealth Management LLC purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $28,000. Westend Capital Management LLC purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $29,000. Imprint Wealth LLC boosted its position in shares of AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID boosted its position in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

AbbVie stock opened at $254.29 on Friday. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64. The business’s fifty day moving average is $228.73 and its 200 day moving average is $221.71. The stock has a market capitalization of $449.28 billion, a PE ratio of 125.27, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30.

AbbVie (NYSE:ABBV) last issued 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. The business had revenue of $15 billion during 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%.AbbVie’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 14.18 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s neuroscience business is expected to post solid Q2 growth, with key brands and Vyalev in focus ahead of earnings on July 31. Will AbbVie’s Neuroscience Franchise Deliver Another Strong Quarter?
• Positive Sentiment: Multiple analysts have recently raised price targets or kept a constructive view on ABBV, reinforcing confidence in the company’s post-Humira growth strategy and pipeline. AbbVie Inc. (NYSE:ABBV) Receives Average Recommendation of “Moderate Buy” from Brokerages
• Positive Sentiment: Investors are also responding to recent regulatory updates for RINVOQ in severe alopecia areata and a subcutaneous induction option for SKYRIZI in Crohn’s disease, which highlight additional growth drivers. AbbVie regulatory submissions update
• Positive Sentiment: AbbVie has also been the subject of upbeat technical and valuation-focused coverage, with commentary pointing to strong momentum and continued investor interest after a multi-year run. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: One article questioned whether AbbVie is fully valued after Tepkinly, but it did not signal a clear bearish catalyst. Is AbbVie (NYSE:ABBV) Fully Valued After Tepkinly?
• Neutral Sentiment: AbbVie’s stock has also drawn attention from traders and long-term holders as they wait for earnings and updates on its pipeline and guidance. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It

Analyst Ratings Changes

A number of research analysts recently weighed in on ABBV shares. Evercore set a $235.00 price objective on AbbVie in a research report on Friday, May 15th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Piper Sandler reissued an “overweight” rating and issued a $298.00 target price on shares of AbbVie in a research note on Tuesday, June 23rd. Guggenheim raised their price target on AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, HSBC reaffirmed a “buy” rating and issued a $300.00 price target on shares of AbbVie in a research report on Monday, July 6th. Two 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $267.67.

About AbbVie

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.