AbbVie Inc. $ABBV Shares Purchased by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 336,967 shares of the company’s stock after acquiring an additional 25,665 shares during the quarter. AbbVie comprises 1.2% of J. Safra Sarasin Holding AG’s portfolio, making the stock its 18th biggest position. J. Safra Sarasin Holding AG’s holdings in AbbVie were worth $73,252,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ABBV. Norges Bank purchased a new stake in shares of AbbVie during the 4th quarter worth about $5,865,055,000. Wellington Management Group LLP lifted its position in AbbVie by 457.4% during the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after buying an additional 8,646,424 shares in the last quarter. Capital World Investors lifted its position in AbbVie by 106.3% during the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after buying an additional 6,736,161 shares in the last quarter. Cardano Risk Management B.V. grew its stake in AbbVie by 914.6% during the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock worth $1,244,112,000 after buying an additional 4,908,260 shares during the period. Finally, Geode Capital Management LLC grew its stake in AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after buying an additional 4,190,487 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $248.00 on Monday. The company has a market capitalization of $438.17 billion, a P/E ratio of 122.17, a P/E/G ratio of 0.81 and a beta of 0.30. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64. The stock has a 50-day moving average price of $225.42 and a 200 day moving average price of $221.20.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping 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 company 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 business earned $2.46 EPS. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities research analysts forecast 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. Investors of record on Wednesday, July 15th will be paid 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 340.89%.

Analyst Ratings Changes

ABBV has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Friday. Cantor Fitzgerald raised their price objective on AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Piper Sandler restated an “overweight” rating and set a $298.00 price objective on shares of AbbVie in a research note on Tuesday, June 23rd. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 5th. Finally, Canaccord Genuity Group increased their target price on AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a research note 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $262.81.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Bank of America raised AbbVie’s price target to $276 from $234 and reiterated a buy rating, signaling confidence in additional upside for the shares. Bank of America raises AbbVie price target
• Positive Sentiment: RBC Capital also increased its price target to $280 from $260 and kept an outperform rating, adding to the wave of analyst support. RBC raises AbbVie price target
• Positive Sentiment: JPMorgan likewise lifted its target to $280 from $260 and maintained an overweight rating, reinforcing a favorable near-term outlook for AbbVie. JPMorgan raises AbbVie price target
• Neutral Sentiment: Recent coverage comparing Johnson & Johnson and AbbVie highlighted how both pharma giants’ latest quarterly results are shaping income-investor preferences, but it did not point to a clear new catalyst for AbbVie. Johnson & Johnson vs AbbVie article
• Neutral Sentiment: AbbVie also appeared in an industry piece on the expanding cystic fibrosis market, which may be supportive of long-term therapeutic demand but is not an immediate stock-moving event. Cystic fibrosis market article
• Negative Sentiment: Despite the analyst upgrades, AbbVie was recently reported as having moved lower in trading, suggesting the stock is still contending with profit-taking or broader market pressure. AbbVie stock drops despite market gains
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a routine transaction that may support AbbVie’s drug-delivery capabilities but is unlikely to move the stock on its own. West Pharmaceutical SmartDose sale to AbbVie

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.