4,410 Shares in AbbVie Inc. $ABBV Purchased by Navigation Group LLC

Navigation Group LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,410 shares of the company’s stock, valued at approximately $959,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Twin Capital Management Inc. raised its holdings in AbbVie by 2.4% in the first quarter. Twin Capital Management Inc. now owns 19,426 shares of the company’s stock worth $4,225,000 after buying an additional 447 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of AbbVie by 4.1% during the first quarter. Illinois Municipal Retirement Fund now owns 175,516 shares of the company’s stock valued at $38,173,000 after buying an additional 6,875 shares during the last quarter. Providence Wealth Advisors LLC grew its holdings in shares of AbbVie by 0.9% during the first quarter. Providence Wealth Advisors LLC now owns 12,779 shares of the company’s stock valued at $2,738,000 after buying an additional 115 shares during the last quarter. Peninsula Asset Management Inc. bought a new stake in shares of AbbVie during the first quarter valued at approximately $370,000. Finally, NFSG Corp increased its position in shares of AbbVie by 1.4% during the first quarter. NFSG Corp now owns 8,735 shares of the company’s stock valued at $1,900,000 after acquiring an additional 122 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s long-term safety and efficacy extension data for Bimatoprost SR could strengthen the case for its glaucoma pipeline if results continue to show durable safety and benefit. AbbVie’s Bimatoprost SR Extension Data: Why Long-Term Glaucoma Safety Matters for Investors
• Positive Sentiment: Analyst commentary highlighted confidence in AbbVie’s ability to replace Humira revenue, with Skyrizi and Rinvoq helping ease concerns about the company’s long-term earnings outlook. Should You Buy, Sell or Hold ABBV Stock After Its 9% YTD Rise?
• Positive Sentiment: AbbVie has also been described as a trending stock, suggesting elevated investor attention that can reinforce momentum in the shares. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Separate technical coverage pointed to a bullish “golden cross” setup, which may be encouraging traders looking for continued upside momentum in AbbVie. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: AbbVie was the target of unusually heavy call-option buying, which shows speculation and near-term trading interest but does not by itself confirm fundamental strength.
• Neutral Sentiment: Some valuation-focused commentary said the stock may be fully priced after its multi-year run, which could temper enthusiasm even as the growth story remains intact. AbbVie (ABBV) Stock Looks Fully Priced After A 152% Run
• Negative Sentiment: Reports that AbbVie has extended a slide for multiple sessions suggest some traders have been taking profits or reacting to valuation concerns in the near term. AbbVie extends slide to a seventh straight session

Analysts Set New Price Targets

Several equities analysts recently issued reports on ABBV shares. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Guggenheim upped 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. Cantor Fitzgerald increased their price objective on AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, UBS Group lifted their price objective on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday. Two equities 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’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.67.

AbbVie Trading Down 0.2%

Shares of ABBV stock opened at $244.21 on Thursday. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64. The stock has a market capitalization of $431.47 billion, a P/E ratio of 120.30, a P/E/G ratio of 0.81 and a beta of 0.30. The firm’s 50 day moving average is $227.70 and its 200 day moving average is $221.54.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating 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 net margin of 5.79% and a negative return on equity of 576.45%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. As a group, equities analysts predict that AbbVie Inc. will post 14.22 earnings per share for the current 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 given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio is 340.89%.

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.