First Trust Advisors LP Has $330.58 Million Holdings in AbbVie Inc. $ABBV

First Trust Advisors LP raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 13.7% during the 1st quarter, HoldingsChannel reports. The fund owned 1,519,986 shares of the company’s stock after purchasing an additional 183,488 shares during the period. First Trust Advisors LP’s holdings in AbbVie were worth $330,582,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $28,000. Westend Capital Management LLC purchased a new position in AbbVie during the fourth quarter valued at approximately $29,000. Imprint Wealth LLC increased its stake in AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares during the period. Legacy Wealth Managment LLC ID increased its stake in AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 73 shares during the period. Finally, IFC & Insurance Marketing Inc. purchased a new stake in AbbVie in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ABBV. UBS Group boosted their target price on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Bank of America raised their price target on AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Citigroup lifted their price target on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price target on AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $267.67.

More AbbVie News

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?

AbbVie Price Performance

ABBV stock opened at $256.18 on Wednesday. The stock has a market capitalization of $452.62 billion, a price-to-earnings ratio of 126.20, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30. The company has a 50-day moving average of $231.78 and a two-hundred day moving average of $222.23. AbbVie Inc. has a 52-week low of $184.90 and a 52-week high of $261.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The company 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%.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 company earned $2.46 earnings per share. Equities analysts expect that AbbVie Inc. will post 14.18 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

AbbVie Company 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.