Chase Investment Counsel Corp Has $6.65 Million Position in AbbVie Inc. $ABBV

Chase Investment Counsel Corp cut its stake in AbbVie Inc. (NYSE:ABBV) by 14.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,581 shares of the company’s stock after selling 5,299 shares during the quarter. AbbVie accounts for 1.7% of Chase Investment Counsel Corp’s holdings, making the stock its 19th biggest position. Chase Investment Counsel Corp’s holdings in AbbVie were worth $6,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ABBV. Ranch Capital Advisors Inc. boosted its stake in AbbVie by 37.0% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after purchasing an additional 4,017 shares during the period. Waycross Partners LLC raised its stake in shares of AbbVie by 2.9% in the 4th 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 during the period. Calamos Advisors LLC lifted its holdings in shares of AbbVie by 3.4% in the fourth quarter. Calamos Advisors LLC now owns 466,290 shares of the company’s stock valued at $106,543,000 after purchasing an additional 15,458 shares in the last quarter. Savvy Advisors Inc. lifted its holdings in shares of AbbVie by 22.2% in the fourth quarter. Savvy Advisors Inc. now owns 36,568 shares of the company’s stock valued at $8,355,000 after purchasing an additional 6,646 shares in the last quarter. Finally, Bingham Private Wealth LLC acquired a new position in shares of AbbVie during the fourth quarter worth about $1,147,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $256.18 on Wednesday. The business has a 50-day moving average of $231.78 and a 200-day moving average of $222.23. The stock has a market capitalization of $452.62 billion, a price-to-earnings ratio of 126.20, a PEG ratio of 0.84 and a beta of 0.30. AbbVie Inc. has a fifty-two week low of $184.90 and a fifty-two week high of $261.64.

AbbVie (NYSE:ABBV) last released its earnings results 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 negative return on equity of 576.45% and a net margin of 5.79%.The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. AbbVie’s revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 14.18 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie’s payout ratio is 340.89%.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s stock has been outperforming the broader market, with recent trading strength reinforcing investor confidence in the name. AbbVie (ABBV) Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: Analysts at Erste Group Bank reportedly raised earnings estimates for AbbVie, which can support the shares if investors expect stronger profit growth ahead. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Positive Sentiment: AbbVie said its ABBV-8736 injection study showed “quiet but meaningful” pipeline progress, adding another sign that its drug development efforts are advancing. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: A recent bullish article argued AbbVie looks like a strong buy-and-hold candidate, reflecting generally constructive sentiment around the stock. 3 Reasons to Buy AbbVie Stock Like There’s No Tomorrow
• Neutral Sentiment: A separate article discussed broader biotech and healthcare market trends, but it does not appear to have a direct company-specific impact on AbbVie. Biotech IPOs Surge 55% as AI Listings Lose Momentum
• Neutral Sentiment: Another article questioned whether AbbVie is leaving eye care, but the available headline alone does not indicate a clear financial impact. BLOG: Exit stage left: Is AbbVie leaving eye care?
• Neutral Sentiment: Coverage of AbbVie’s $10.9 billion Apogee acquisition focused on potential dividend effects, but the headline suggests investors are mainly evaluating the deal rather than reacting to a fresh negative catalyst. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABBV. Cantor Fitzgerald increased their price objective on AbbVie from $240.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Citigroup boosted their target price on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Wells Fargo & Company upped their price target on AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. Finally, 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 report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.67.

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.