Invesco Ltd. Has $1.85 Billion Holdings in AbbVie Inc. $ABBV

Invesco Ltd. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,107,480 shares of the company’s stock after acquiring an additional 668,658 shares during the period. Invesco Ltd.’s holdings in AbbVie were worth $1,852,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Thornburg Investment Management Inc. lifted its position in AbbVie by 25.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock valued at $93,024,000 after acquiring an additional 81,625 shares in the last quarter. Channing Capital Management LLC increased its holdings in AbbVie by 10.5% during the 3rd quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock worth $12,885,000 after purchasing an additional 5,302 shares in the last quarter. Procyon Advisors LLC increased its holdings in AbbVie by 19.9% during the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after purchasing an additional 5,427 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. lifted its holdings in shares of AbbVie by 358.1% in the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 14,746 shares of the company’s stock valued at $3,414,000 after purchasing an additional 11,527 shares in the last quarter. Finally, Waycross Partners LLC lifted its holdings in shares of AbbVie by 2.9% in the fourth quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock valued at $41,694,000 after purchasing an additional 5,063 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 2.1%

Shares of AbbVie stock opened at $216.63 on Friday. The stock has a market cap of $382.74 billion, a P/E ratio of 106.71, a P/E/G ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The business’s 50 day moving average is $212.08 and its 200-day moving average is $218.78.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the business earned $2.46 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 3.2%. AbbVie’s payout ratio is currently 340.89%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Morgan Stanley raised their target price on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

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.