AbbVie Inc. $ABBV Shares Sold by Sigma Planning Corp

Sigma Planning Corp lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,826 shares of the company’s stock after selling 2,478 shares during the quarter. Sigma Planning Corp’s holdings in AbbVie were worth $12,359,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. bought a new position in shares of AbbVie in the 3rd quarter worth about $26,000. Litman Gregory Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at about $28,000. Westend Capital Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at about $29,000. Imprint Wealth LLC raised its stake in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after acquiring an additional 45 shares during the period. Finally, Legacy Wealth Managment LLC ID raised its stake in AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares during the period. Institutional investors own 70.23% of the company’s stock.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: BMO Capital Markets raised its price target on AbbVie to $300 from $258 and kept an outperform rating, signaling confidence in further upside for the shares.
• Positive Sentiment: Traders bought far more AbbVie call options than usual, suggesting some investors are positioning for a rebound or expecting a near-term catalyst.
• Positive Sentiment: AbbVie’s Allergan Aesthetics unit said SkinMedica is expanding its commitment to regenerative science, including more R&D investment and new advisory support, which reinforces AbbVie’s pipeline and innovation narrative. SkinMedica® Deepens Commitment to Regenerative Science with Continued Investment in Research and Development
• Positive Sentiment: Reports that AbbVie’s pharmaceutical project in Durham is moving forward point to continued operational expansion and investment.
• Neutral Sentiment: Analyst commentary from Zacks discussed whether AbbVie is a buy as Wall Street remains optimistic, but it did not introduce a new material corporate event. Is AbbVie (ABBV) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: AbbVie-related community and employee engagement updates in Asia are unlikely to move the stock much in the near term.
• Negative Sentiment: The stock has continued to slide for a seventh straight session, suggesting momentum has remained weak even with supportive analyst and options activity.
• Negative Sentiment: Broader sector concerns about big pharma’s looming patent-expiration problem may keep pressure on AbbVie and other drugmakers as investors focus on future revenue replacement needs.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ABBV shares. HSBC reissued a “buy” rating and issued a $300.00 price target on shares of AbbVie in a report on Monday, July 6th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Canaccord Genuity Group increased their price objective on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Guggenheim lifted their price objective on shares of AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Bank of America boosted their target price on shares of AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Two investment 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 company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.24.

AbbVie Stock Down 1.3%

Shares of ABBV stock opened at $244.75 on Wednesday. The stock has a 50-day simple moving average of $226.92 and a 200 day simple moving average of $221.44. AbbVie Inc. has a fifty-two week low of $184.63 and a fifty-two week high of $261.64. The stock has a market capitalization of $432.42 billion, a P/E ratio of 120.57, a P/E/G ratio of 0.82 and a beta of 0.30.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same period in the previous year, the business earned $2.46 earnings per share. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.22 earnings per share for the current year.

AbbVie Dividend Announcement

The firm 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. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio 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.