Bellwether Advisors LLC Buys 8,890 Shares of AbbVie Inc. $ABBV

Bellwether Advisors LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 39.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,607 shares of the company’s stock after acquiring an additional 8,890 shares during the period. AbbVie makes up 1.2% of Bellwether Advisors LLC’s portfolio, making the stock its 19th biggest position. Bellwether Advisors LLC’s holdings in AbbVie were worth $6,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in AbbVie during the 4th quarter valued at about $5,865,055,000. Wellington Management Group LLP increased its stake in AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after purchasing an additional 8,646,424 shares in the last quarter. Capital World Investors raised its holdings in AbbVie by 106.3% in the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock worth $2,986,777,000 after buying an additional 6,736,161 shares during the last quarter. Cardano Risk Management B.V. lifted its stake in shares of AbbVie by 914.6% in the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock worth $1,244,112,000 after buying an additional 4,908,260 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after buying an additional 4,190,487 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABBV has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $298.00 price target on shares of AbbVie in a report on Tuesday, June 23rd. Morgan Stanley boosted their price objective on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Guggenheim upped their price objective on AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Finally, Canaccord Genuity Group lifted their target price on AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $267.67.

AbbVie Stock Up 1.1%

Shares of NYSE ABBV opened at $256.18 on Wednesday. The firm’s 50-day moving average price is $231.78 and its 200-day moving average price is $222.23. AbbVie Inc. has a 52-week low of $184.90 and a 52-week high of $261.64. The company has a market cap of $452.62 billion, a PE ratio of 126.20, a PEG ratio of 0.84 and a beta of 0.30.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share 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 analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 14.18 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders 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 dividend on an annualized basis and a yield of 2.7%. AbbVie’s payout ratio is currently 340.89%.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s stock has been outperforming the broader market, with recent trading strength reinforcing investor confidence in the name. AbbVie (ABBV) Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: Analysts at Erste Group Bank reportedly raised earnings estimates for AbbVie, which can support the shares if investors expect stronger profit growth ahead. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Positive Sentiment: AbbVie said its ABBV-8736 injection study showed “quiet but meaningful” pipeline progress, adding another sign that its drug development efforts are advancing. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: A recent bullish article argued AbbVie looks like a strong buy-and-hold candidate, reflecting generally constructive sentiment around the stock. 3 Reasons to Buy AbbVie Stock Like There’s No Tomorrow
• Neutral Sentiment: A separate article discussed broader biotech and healthcare market trends, but it does not appear to have a direct company-specific impact on AbbVie. Biotech IPOs Surge 55% as AI Listings Lose Momentum
• Neutral Sentiment: Another article questioned whether AbbVie is leaving eye care, but the available headline alone does not indicate a clear financial impact. BLOG: Exit stage left: Is AbbVie leaving eye care?
• Neutral Sentiment: Coverage of AbbVie’s $10.9 billion Apogee acquisition focused on potential dividend effects, but the headline suggests investors are mainly evaluating the deal rather than reacting to a fresh negative catalyst. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?

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.