NewEdge Wealth LLC Boosts Holdings in AbbVie Inc. $ABBV

NewEdge Wealth LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 406,062 shares of the company’s stock after buying an additional 8,385 shares during the quarter. AbbVie comprises approximately 1.1% of NewEdge Wealth LLC’s portfolio, making the stock its 15th largest position. NewEdge Wealth LLC’s holdings in AbbVie were worth $88,314,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. increased its position in shares of AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock valued at $3,056,000 after acquiring an additional 789 shares during the last quarter. Ieq Capital LLC raised its stake in shares of AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock valued at $22,281,000 after acquiring an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of AbbVie by 117.3% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after acquiring an additional 612,702 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 0.9%

AbbVie stock opened at $253.75 on Thursday. The firm has a market capitalization of $448.32 billion, a P/E ratio of 125.00, a P/E/G ratio of 0.85 and a beta of 0.30. AbbVie Inc. has a twelve month low of $186.77 and a twelve month high of $261.64. The stock’s fifty day simple moving average is $232.69 and its 200-day simple moving average is $222.41.

AbbVie (NYSE:ABBV) last released its earnings results 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 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 analyst estimates of $14.72 billion. During the same period last year, the business posted $2.46 earnings per share. AbbVie’s revenue was up 12.4% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 14.18 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is 340.89%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Evercore set a $235.00 target price on shares of AbbVie in a report on Friday, May 15th. HSBC reissued a “buy” rating and issued a $300.00 target price on shares of AbbVie in a research report on Monday, July 6th. JPMorgan Chase & Co. upped their price target on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada raised their price target on AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $268.10.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Canaccord Genuity raised its price target on AbbVie to $282 from $273 and reiterated a buy rating, signaling confidence in further upside for AbbVie Inc. (ABBV). Benzinga report
• Positive Sentiment: AbbVie’s aesthetics business got a boost after Allergan Aesthetics received European Commission approval for Boey, expanding the company’s portfolio in Europe and potentially supporting future revenue growth. Yahoo Finance article
• Neutral Sentiment: Several recent articles characterized AbbVie as a strong buy-and-hold name and noted that the stock has recently outperformed the broader market, reinforcing a generally constructive long-term view. Yahoo Finance article
• Negative Sentiment: Investors are watching AbbVie’s Q2 oncology revenue closely, with analysts warning that weakness in Imbruvica may outweigh gains from Venclexta and newer cancer treatments, which could pressure results. Yahoo Finance article

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.