AbbVie Inc. $ABBV Position Increased by Opal Capital LLC

Opal Capital LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 19.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 41,153 shares of the company’s stock after buying an additional 6,759 shares during the quarter. AbbVie accounts for 1.6% of Opal Capital LLC’s holdings, making the stock its 13th largest position. Opal Capital LLC’s holdings in AbbVie were worth $8,950,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after buying an additional 3,401 shares during the period. Revolve Wealth Partners LLC raised its holdings 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 period. Schnieders Capital Management LLC. lifted its position in shares of AbbVie by 5.0% in the 2nd 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 in the last quarter. Ieq Capital LLC boosted its stake in AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after purchasing an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its position in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after purchasing an additional 612,702 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Guggenheim boosted their target price on shares of AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Wells Fargo & Company lifted their price target on AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Cantor Fitzgerald upped their price target 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 reissued an “overweight” rating and issued a $298.00 price objective on shares of AbbVie in a research note on Tuesday, June 23rd. Finally, Canaccord Genuity Group raised their price objective on AbbVie from $273.00 to $282.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $268.10.

AbbVie Stock Up 2.6%

Shares of NYSE:ABBV opened at $263.49 on Wednesday. The firm has a fifty day moving average of $236.52 and a two-hundred day moving average of $223.32. AbbVie Inc. has a 12-month low of $187.62 and a 12-month high of $266.92. The firm has a market capitalization of $465.53 billion, a P/E ratio of 129.80, a price-to-earnings-growth ratio of 0.85 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the prior year, the business posted $2.46 earnings per share. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post 14.16 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be paid a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.6%. AbbVie’s payout ratio is 340.89%.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Skyrizi and Rinvoq remain key growth drivers. The two immunology drugs are reportedly growing at more than 20% and have increasingly offset Humira’s loss of exclusivity, strengthening confidence in AbbVie’s long-term revenue outlook. Should You Buy, Hold or Sell ABBV Stock Ahead of Q2 Earnings?
• Positive Sentiment: Income and guidance support the investment case. Coverage highlights AbbVie’s roughly 2.62% dividend yield and raised earnings guidance, presenting ABBV as a combination of income, growth and comparatively low volatility ahead of the quarterly report. 3 Major Reasons for Investors to Buy AbbVie Stock Before July 31st
• Positive Sentiment: Pipeline and real-world data provide additional support. AbbVie completed a real-world RINVOQ study in psoriatic arthritis, while early safety data from the ABBV-722 Phase 1 program offer incremental pipeline visibility, though neither update is yet a major revenue catalyst. AbbVie Wraps Up Real-World RINVOQ Study in Psoriatic Arthritis
• Neutral Sentiment: Former AbbVie executive Michael Severino was named Sarepta Therapeutics’ CEO. The appointment is not expected to materially affect AbbVie’s operations, but it highlights the departure of a longtime AbbVie leader from the broader biopharmaceutical sector. Sarepta Names Former AbbVie President as CEO
• Negative Sentiment: Near-term “sell the news” risk remains. AbbVie’s recent rally has raised the possibility of profit-taking if second-quarter results, guidance or drug sales fail to exceed elevated expectations, despite the favorable long-term view. Should You Buy AbbVie Stock Hand Over Fist Before July 31?

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.