Ibex Wealth Advisors Buys 23,591 Shares of AbbVie Inc. $ABBV

Ibex Wealth Advisors boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 39.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,939 shares of the company’s stock after acquiring an additional 23,591 shares during the quarter. AbbVie accounts for about 1.7% of Ibex Wealth Advisors’ investment portfolio, making the stock its 14th largest holding. Ibex Wealth Advisors’ holdings in AbbVie were worth $18,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Chelsea Counsel Co. bought a new stake in AbbVie in the third quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth approximately $28,000. Westend Capital Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth $29,000. Imprint Wealth LLC increased its stake in shares of AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares during the period. Finally, Texas Capital Bancshares Inc TX bought a new stake in AbbVie during the 3rd quarter valued at $31,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: JPMorgan raised its price target on AbbVie to $280 from $260 and kept an overweight rating, signaling confidence in further upside. Benzinga
• Positive Sentiment: The European Commission approved AbbVie’s Tepkinly-based combination for relapsed or refractory follicular lymphoma, expanding the company’s oncology footprint and potentially supporting future sales growth. Pharmaceutical Technology
• Positive Sentiment: AbbVie also completed a first-in-human ABBV-277 trial, and early safety data could matter for its pipeline if the program continues to show promise. TipRanks
• Neutral Sentiment: West Pharmaceutical completed the SmartDose 3.5mL sale to AbbVie, a transaction that helps West refocus on its core business but is not likely to be a major direct driver for AbbVie’s stock. Zacks
• Neutral Sentiment: Market commentary on cystic fibrosis drug development highlighted AbbVie’s presence in a growing orphan-drug category, but the article was broad industry context rather than a company-specific catalyst. Yahoo Finance
• Negative Sentiment: Despite the positive headlines, AbbVie’s shares ended the session lower, suggesting investors may be taking profits or waiting for the upcoming earnings report and clearer pipeline results. Zacks

AbbVie Stock Down 1.1%

Shares of ABBV stock opened at $249.98 on Friday. The firm has a market capitalization of $441.67 billion, a price-to-earnings ratio of 123.14, a PEG ratio of 0.83 and a beta of 0.30. The stock has a fifty day moving average of $224.54 and a 200 day moving average of $221.06. AbbVie Inc. has a 52 week low of $184.63 and a 52 week high of $261.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating 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 business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the previous year, the firm earned $2.46 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 14.25 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. AbbVie’s payout ratio is currently 340.89%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ABBV. Guggenheim increased their price target on shares of AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler restated an “overweight” rating and issued a $298.00 price objective on shares of AbbVie in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their price objective on shares of AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Finally, Canaccord Genuity Group raised their target price on AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $258.19.

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.