CFO Capital Management LLC Has $881,000 Stock Holdings in AbbVie Inc. $ABBV

CFO Capital Management LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 62.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,049 shares of the company’s stock after selling 6,660 shares during the quarter. CFO Capital Management LLC’s holdings in AbbVie were worth $881,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Nwam LLC grew its stake in AbbVie by 0.9% in the first quarter. Nwam LLC now owns 20,962 shares of the company’s stock valued at $4,559,000 after purchasing an additional 183 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of AbbVie by 0.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 89,040 shares of the company’s stock worth $19,365,000 after purchasing an additional 538 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of AbbVie by 43.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 22,098 shares of the company’s stock valued at $4,806,000 after buying an additional 6,730 shares during the last quarter. Avantax Planning Partners Inc. lifted its holdings in shares of AbbVie by 5.7% during the 1st quarter. Avantax Planning Partners Inc. now owns 60,872 shares of the company’s stock valued at $13,239,000 after buying an additional 3,283 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its stake in shares of AbbVie by 9.4% in the 1st quarter. Calamos Wealth Management LLC now owns 16,276 shares of the company’s stock valued at $3,540,000 after buying an additional 1,401 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.3%

NYSE:ABBV opened at $244.75 on Wednesday. The company’s 50 day moving average is $226.92 and its 200-day moving average is $221.44. AbbVie Inc. has a 12 month low of $184.63 and a 12 month high of $261.64. The firm has a market cap of $432.42 billion, a price-to-earnings ratio of 120.57, a P/E/G ratio of 0.82 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the prior year, the firm earned $2.46 EPS. AbbVie’s quarterly revenue was up 12.4% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 14.22 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ABBV shares. Guggenheim raised their price objective 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. Piper Sandler reissued an “overweight” rating and issued a $298.00 target price on shares of AbbVie in a research report on Tuesday, June 23rd. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. UBS Group lifted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Bank of America upped their price objective on shares of AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a 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 stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $266.24.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: BMO Capital Markets raised its price target on AbbVie to $300 from $258 and kept an outperform rating, signaling confidence in further upside for the shares.
• Positive Sentiment: Traders bought far more AbbVie call options than usual, suggesting some investors are positioning for a rebound or expecting a near-term catalyst.
• Positive Sentiment: AbbVie’s Allergan Aesthetics unit said SkinMedica is expanding its commitment to regenerative science, including more R&D investment and new advisory support, which reinforces AbbVie’s pipeline and innovation narrative. SkinMedica® Deepens Commitment to Regenerative Science with Continued Investment in Research and Development
• Positive Sentiment: Reports that AbbVie’s pharmaceutical project in Durham is moving forward point to continued operational expansion and investment.
• Neutral Sentiment: Analyst commentary from Zacks discussed whether AbbVie is a buy as Wall Street remains optimistic, but it did not introduce a new material corporate event. Is AbbVie (ABBV) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: AbbVie-related community and employee engagement updates in Asia are unlikely to move the stock much in the near term.
• Negative Sentiment: The stock has continued to slide for a seventh straight session, suggesting momentum has remained weak even with supportive analyst and options activity.
• Negative Sentiment: Broader sector concerns about big pharma’s looming patent-expiration problem may keep pressure on AbbVie and other drugmakers as investors focus on future revenue replacement needs.

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.