AbbVie Inc. $ABBV Shares Bought by Sei Investments Co.

Sei Investments Co. grew its stake in AbbVie Inc. (NYSE:ABBV) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 884,601 shares of the company’s stock after acquiring an additional 65,445 shares during the quarter. Sei Investments Co. owned about 0.05% of AbbVie worth $192,380,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ABBV. Vanguard Group Inc. lifted its holdings in AbbVie by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares in the last quarter. State Street Corp grew its holdings in shares of AbbVie by 1.4% during the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after buying an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 in the last quarter. Bank of America Corp DE raised its position in shares of AbbVie by 1.4% in the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after buying an additional 356,394 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $5,865,055,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Key Stories Impacting 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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ABBV shares. Bank of America raised their target price on shares of AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Guggenheim boosted their price target on AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Royal Bank Of Canada increased their price target on AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. HSBC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of AbbVie in a research report on Monday, July 6th. Finally, Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $268.10.

AbbVie Trading Down 0.9%

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

AbbVie (NYSE:ABBV) last posted its quarterly 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. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $2.46 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 14.18 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. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s payout ratio is 340.89%.

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.