Kestra Advisory Services LLC Raises Stake in AbbVie Inc. $ABBV

Kestra Advisory Services LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 431,581 shares of the company’s stock after acquiring an additional 20,714 shares during the quarter. Kestra Advisory Services LLC’s holdings in AbbVie were worth $93,864,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Chelsea Counsel Co. acquired a new position in AbbVie in the third quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter worth $28,000. Westend Capital Management LLC acquired a new stake in AbbVie during the fourth quarter worth $29,000. Imprint Wealth LLC raised its position in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after purchasing an additional 45 shares during the period. Finally, Texas Capital Bancshares Inc TX purchased a new stake in AbbVie in the third quarter valued at $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: JPMorgan raised its price target on AbbVie to $280 from $260 and kept an overweight rating, signaling confidence in further upside. Benzinga
• Positive Sentiment: The European Commission approved AbbVie’s Tepkinly-based combination for relapsed or refractory follicular lymphoma, expanding the company’s oncology footprint and potentially supporting future sales growth. Pharmaceutical Technology
• Positive Sentiment: AbbVie also completed a first-in-human ABBV-277 trial, and early safety data could matter for its pipeline if the program continues to show promise. TipRanks
• Neutral Sentiment: West Pharmaceutical completed the SmartDose 3.5mL sale to AbbVie, a transaction that helps West refocus on its core business but is not likely to be a major direct driver for AbbVie’s stock. Zacks
• Neutral Sentiment: Market commentary on cystic fibrosis drug development highlighted AbbVie’s presence in a growing orphan-drug category, but the article was broad industry context rather than a company-specific catalyst. Yahoo Finance
• Negative Sentiment: Despite the positive headlines, AbbVie’s shares ended the session lower, suggesting investors may be taking profits or waiting for the upcoming earnings report and clearer pipeline results. Zacks

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABBV. Wells Fargo & Company set a $260.00 price target on shares of AbbVie in a research report on Monday, June 22nd. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a report on Thursday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $298.00 target price on shares of AbbVie in a report on Tuesday, June 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Finally, HSBC restated a “buy” rating and set a $300.00 price target on shares of AbbVie in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $258.19.

AbbVie Trading Down 1.1%

Shares of NYSE:ABBV opened at $249.98 on Friday. The firm has a 50 day simple moving average of $224.54 and a 200-day simple moving average of $221.06. AbbVie Inc. has a twelve month low of $184.63 and a twelve month high of $261.64. The company has a market capitalization of $441.67 billion, a PE ratio of 123.14, a P/E/G ratio of 0.83 and a beta of 0.30.

AbbVie (NYSE:ABBV) last announced its 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 analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 14.25 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. AbbVie’s payout ratio is presently 340.89%.

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.