Smith Salley Wealth Management Acquires 3,415 Shares of AbbVie Inc. $ABBV

Smith Salley Wealth Management grew its holdings in AbbVie Inc. (NYSE:ABBV) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 160,791 shares of the company’s stock after buying an additional 3,415 shares during the quarter. AbbVie makes up 1.8% of Smith Salley Wealth Management’s portfolio, making the stock its 14th largest position. Smith Salley Wealth Management’s holdings in AbbVie were worth $34,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust increased its position in AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock valued at $1,648,000 after acquiring an additional 44 shares in the last quarter. Eclectic Associates Inc. ADV lifted its position in shares of AbbVie by 0.8% during the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock worth $1,337,000 after purchasing an additional 45 shares in the last quarter. Imprint Wealth LLC lifted its position in shares of AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Hardin Capital Partners LLC grew its stake in shares of AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after purchasing an additional 46 shares during the last quarter. Finally, Dogwood Wealth Management LLC increased its holdings in shares of AbbVie by 10.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock valued at $108,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Expands AbbVie’s immunology franchise with late-stage assets that may help offset future patent and revenue pressures. Reuters: AbbVie strikes $10.9 billion deal for Apogee Therapeutics
• Positive Sentiment: Supports confidence in AbbVie’s ability to keep growing beyond Humira, helped by strength in newer drugs like Skyrizi and Rinvoq. Quiver Quant: AbbVie gains as investors weigh stronger growth outlook and recent pipeline wins
• Neutral Sentiment: Analysts and media outlets are framing the transaction as strategic, but the size of the deal also adds integration and execution risk. WSJ: AbbVie to Buy Apogee Therapeutics for $10.9 Billion in Cash
• Neutral Sentiment: AbbVie also received attention for recent product news, including FDA approval for Allergan Aesthetics’ Skinvive by Juvéderm, which adds another modest positive backdrop. Yahoo Finance: AbbVie’s Allergan Aesthetics Wins FDA Approval for Skinvive by Juvederm

AbbVie Trading Up 6.3%

NYSE ABBV opened at $230.10 on Tuesday. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81. The stock has a 50-day simple moving average of $212.53 and a 200 day simple moving average of $218.76. The company has a market capitalization of $406.54 billion, a PE ratio of 113.35, a P/E/G ratio of 0.66 and a beta of 0.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion for 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 revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid 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 yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Royal Bank Of Canada initiated coverage on AbbVie in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 target price for the company. Guggenheim restated a “buy” rating and set a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Thursday, April 30th. Finally, Wells Fargo & Company set a $260.00 price target on AbbVie in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $253.43.

AbbVie 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.