Levin Capital Strategies L.P. Purchases Shares of 42,022 AbbVie Inc. $ABBV

Levin Capital Strategies L.P. purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 42,022 shares of the company’s stock, valued at approximately $9,139,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ranch Capital Advisors Inc. lifted its position in AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after acquiring an additional 4,017 shares during the last quarter. Waycross Partners LLC increased its stake in shares of AbbVie by 2.9% during the fourth quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock worth $41,694,000 after purchasing an additional 5,063 shares during the period. Calamos Advisors LLC increased its stake in shares of AbbVie by 3.4% during the fourth quarter. Calamos Advisors LLC now owns 466,290 shares of the company’s stock worth $106,543,000 after purchasing an additional 15,458 shares during the period. Savvy Advisors Inc. lifted its holdings in AbbVie by 22.2% during the 4th quarter. Savvy Advisors Inc. now owns 36,568 shares of the company’s stock worth $8,355,000 after purchasing an additional 6,646 shares during the last quarter. Finally, Bingham Private Wealth LLC acquired a new stake in AbbVie during the 4th quarter worth approximately $1,147,000. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $298.00 price objective on shares of AbbVie in a report on Tuesday, June 23rd. Wells Fargo & Company lifted their target price on AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. 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 report on Thursday, July 9th. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Finally, Bank of America raised their price target 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. Two research 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $268.10.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $253.75 on Thursday. The company has a market capitalization of $448.32 billion, a P/E ratio of 125.00, a P/E/G ratio of 0.85 and a beta of 0.30. AbbVie Inc. has a 1 year low of $186.77 and a 1 year high of $261.64. The business’s 50 day simple moving average is $232.69 and its 200 day simple moving average is $222.41.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.18 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 given a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

AbbVie News Summary

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

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.