Calamos Advisors LLC Acquires 17,380 Shares of AbbVie Inc. $ABBV

Calamos Advisors LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% during the first quarter, Holdings Channel reports. The firm owned 483,670 shares of the company’s stock after purchasing an additional 17,380 shares during the quarter. Calamos Advisors LLC’s holdings in AbbVie were worth $105,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Procyon Advisors LLC raised its holdings in AbbVie by 19.9% during the fourth quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock valued at $7,484,000 after acquiring an additional 5,427 shares during the period. Waycross Partners LLC grew its holdings in shares of AbbVie by 2.9% in the fourth quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock valued at $41,694,000 after purchasing an additional 5,063 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AbbVie by 11.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 636,710 shares of the company’s stock worth $143,026,000 after buying an additional 66,720 shares during the last quarter. Savvy Advisors Inc. increased its stake in AbbVie by 22.2% during the fourth quarter. Savvy Advisors Inc. now owns 36,568 shares of the company’s stock worth $8,355,000 after acquiring an additional 6,646 shares during the last quarter. Finally, Bingham Private Wealth LLC purchased a new stake in AbbVie during the 4th quarter valued at $1,147,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABBV. Wells Fargo & Company increased their price target on AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a research report on Tuesday, June 23rd. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Evercore set a $235.00 target price on shares of AbbVie in a research note on Friday, May 15th. Finally, Morgan Stanley boosted their price target on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Two research 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. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.24.

AbbVie Trading Down 0.0%

Shares of ABBV stock opened at $248.06 on Tuesday. The stock has a 50 day moving average of $226.15 and a 200 day moving average of $221.34. AbbVie Inc. has a twelve month low of $184.63 and a twelve month high of $261.64. The stock has a market cap of $438.27 billion, a P/E ratio of 122.20, a P/E/G ratio of 0.81 and a beta of 0.30.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the prior year, the firm posted $2.46 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, research analysts predict that AbbVie Inc. will post 14.3 earnings per share 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 issued a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is presently 340.89%.

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.