Chicago Partners Investment Group LLC Increases Stock Holdings in AbbVie Inc. $ABBV

Chicago Partners Investment Group LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,582 shares of the company’s stock after purchasing an additional 6,927 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in AbbVie were worth $11,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in AbbVie during the 4th quarter worth $5,865,055,000. Wellington Management Group LLP boosted its stake in AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after acquiring an additional 8,646,424 shares in the last quarter. Capital World Investors grew its holdings in shares of AbbVie by 106.3% during the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock worth $2,986,777,000 after purchasing an additional 6,736,161 shares during the last quarter. Cardano Risk Management B.V. grew its holdings in shares of AbbVie by 914.6% during the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock worth $1,244,112,000 after purchasing an additional 4,908,260 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABBV. Guggenheim upped their target price on AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank Of Canada lifted their price target on AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler reiterated an “overweight” rating and issued a $298.00 price objective on shares of AbbVie in a research note on Tuesday, June 23rd. Morgan Stanley increased their price objective on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Bank of America raised their target price on shares of AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research report on Friday. Two 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $262.81.

AbbVie Stock Down 0.0%

NYSE ABBV opened at $248.00 on Monday. AbbVie Inc. has a 52-week low of $184.63 and a 52-week high of $261.64. The business’s 50-day moving average price is $225.42 and its 200 day moving average price is $221.20. The firm has a market cap of $438.17 billion, a P/E ratio of 122.17, a P/E/G ratio of 0.81 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating 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 firm 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 business earned $2.46 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Announces Dividend

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

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Bank of America raised AbbVie’s price target to $276 from $234 and reiterated a buy rating, signaling confidence in additional upside for the shares. Bank of America raises AbbVie price target
• Positive Sentiment: RBC Capital also increased its price target to $280 from $260 and kept an outperform rating, adding to the wave of analyst support. RBC raises AbbVie price target
• Positive Sentiment: JPMorgan likewise lifted its target to $280 from $260 and maintained an overweight rating, reinforcing a favorable near-term outlook for AbbVie. JPMorgan raises AbbVie price target
• Neutral Sentiment: Recent coverage comparing Johnson & Johnson and AbbVie highlighted how both pharma giants’ latest quarterly results are shaping income-investor preferences, but it did not point to a clear new catalyst for AbbVie. Johnson & Johnson vs AbbVie article
• Neutral Sentiment: AbbVie also appeared in an industry piece on the expanding cystic fibrosis market, which may be supportive of long-term therapeutic demand but is not an immediate stock-moving event. Cystic fibrosis market article
• Negative Sentiment: Despite the analyst upgrades, AbbVie was recently reported as having moved lower in trading, suggesting the stock is still contending with profit-taking or broader market pressure. AbbVie stock drops despite market gains
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a routine transaction that may support AbbVie’s drug-delivery capabilities but is unlikely to move the stock on its own. West Pharmaceutical SmartDose sale to AbbVie

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.