Madison Asset Management LLC Trims Stock Position in AbbVie Inc. $ABBV

Madison Asset Management LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,369 shares of the company’s stock after selling 5,052 shares during the quarter. Madison Asset Management LLC’s holdings in AbbVie were worth $13,130,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. MWA Asset Management lifted its position in AbbVie by 2.8% during the first quarter. MWA Asset Management now owns 17,890 shares of the company’s stock valued at $3,891,000 after purchasing an additional 483 shares in the last quarter. Johnson Financial Group Inc. raised its stake in shares of AbbVie by 1.3% in the first quarter. Johnson Financial Group Inc. now owns 37,652 shares of the company’s stock worth $8,189,000 after buying an additional 471 shares during the period. Florida Financial Advisors LLC lifted its position in shares of AbbVie by 5.2% during the 1st quarter. Florida Financial Advisors LLC now owns 2,985 shares of the company’s stock valued at $649,000 after buying an additional 147 shares in the last quarter. Swan Global Investments LLC lifted its holdings in AbbVie by 3.5% during the first quarter. Swan Global Investments LLC now owns 1,501 shares of the company’s stock valued at $326,000 after purchasing an additional 51 shares in the last quarter. Finally, Earned Wealth Advisors LLC boosted its position in shares of AbbVie by 9.4% in the first quarter. Earned Wealth Advisors LLC now owns 6,334 shares of the company’s stock worth $1,378,000 after purchasing an additional 546 shares during the period. 70.23% of the stock is currently owned by institutional investors.

More AbbVie News

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 brokerages have recently issued reports on ABBV. Guggenheim increased their price objective on shares of AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. BMO Capital Markets upped their target price on shares of AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Evercore set a $235.00 price target on AbbVie in a research note on Friday, May 15th. JPMorgan Chase & Co. raised their price target on AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, UBS Group upped their price objective on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note 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 issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $267.67.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $256.18 on Wednesday. The firm has a fifty day moving average price of $231.78 and a 200 day moving average price of $222.23. AbbVie Inc. has a fifty-two week low of $184.90 and a fifty-two week high of $261.64. The firm has a market cap of $452.62 billion, a price-to-earnings ratio of 126.20, a P/E/G ratio of 0.84 and a beta of 0.30.

AbbVie (NYSE:ABBV) last announced its quarterly 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 company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. As a group, research analysts predict that AbbVie Inc. will post 14.18 earnings per share for the current 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. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s payout ratio is 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.