Kestra Advisory Services LLC Raises Stock Position in AbbVie Inc. $ABBV

Kestra Advisory Services LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 431,581 shares of the company’s stock after purchasing an additional 20,714 shares during the quarter. Kestra Advisory Services LLC’s holdings in AbbVie were worth $93,864,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ABBV. Chelsea Counsel Co. purchased a new stake in AbbVie in the third quarter worth $26,000. Litman Gregory Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter valued at about $28,000. Westend Capital Management LLC purchased a new stake in AbbVie during the fourth quarter worth $29,000. Imprint Wealth LLC lifted its stake in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares during the last quarter. Finally, Texas Capital Bancshares Inc TX bought a new stake in shares of AbbVie in the 3rd quarter valued at about $31,000. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ABBV shares. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Morgan Stanley increased their price target on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price target on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Canaccord Genuity Group increased their price objective on shares of AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $258.19.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $249.98 on Friday. The business’s 50 day moving average price is $224.54 and its 200-day moving average price is $221.06. The firm has a market capitalization of $441.67 billion, a PE ratio of 123.14, a P/E/G ratio of 0.83 and a beta of 0.30. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the prior year, the company earned $2.46 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc. will post 14.25 earnings per share for the current year.

AbbVie Announces Dividend

The firm 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. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 340.89%.

Trending Headlines about AbbVie

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 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.