Invesco Ltd. Acquires 668,658 Shares of AbbVie Inc. $ABBV

Invesco Ltd. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,107,480 shares of the company’s stock after purchasing an additional 668,658 shares during the period. Invesco Ltd. owned 0.46% of AbbVie worth $1,852,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chelsea Counsel Co. bought a new stake in AbbVie during the 3rd quarter worth about $26,000. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth about $28,000. Westend Capital Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $29,000. Imprint Wealth LLC lifted its position in shares of AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX bought a new stake in shares of AbbVie during the third quarter valued at approximately $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

AbbVie Stock Down 2.1%

ABBV stock opened at $216.63 on Friday. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The company has a market cap of $382.74 billion, a P/E ratio of 106.71, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32. The business’s fifty day moving average is $212.08 and its 200-day moving average is $218.78.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 earnings per share. Research analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.2%. AbbVie’s dividend payout ratio is 340.89%.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Barclays started coverage on shares of AbbVie in a research report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price objective for the company. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Royal Bank Of Canada assumed coverage on AbbVie in a research note on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price target on the stock. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a research report on Thursday, April 30th. Finally, William Blair reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

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.