Clear Trail Advisors LLC Has $2.03 Million Stock Holdings in AbbVie Inc. $ABBV

Clear Trail Advisors LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 59.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 9,344 shares of the company’s stock after acquiring an additional 3,488 shares during the quarter. Clear Trail Advisors LLC’s holdings in AbbVie were worth $2,032,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABBV. Thornburg Investment Management Inc. boosted its position in AbbVie by 25.5% in the third quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock valued at $93,024,000 after buying an additional 81,625 shares in the last quarter. Procyon Advisors LLC increased its holdings in shares of AbbVie by 19.9% during the fourth quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after buying an additional 5,427 shares in the last quarter. Waycross Partners LLC increased its holdings in shares of AbbVie by 2.9% during the fourth quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock worth $41,694,000 after buying an additional 5,063 shares in the last quarter. Calamos Advisors LLC lifted its stake in shares of AbbVie by 3.4% in the 4th quarter. Calamos Advisors LLC now owns 466,290 shares of the company’s stock valued at $106,543,000 after acquiring an additional 15,458 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of AbbVie by 11.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 636,710 shares of the company’s stock valued at $143,026,000 after acquiring an additional 66,720 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie agreed to buy Apogee Therapeutics for about $10.9 billion in cash, a move that adds late-stage candidates for atopic dermatitis and asthma and is being viewed as a strategic boost to AbbVie’s immunology franchise. Reuters: AbbVie strikes $10.9 billion deal for Apogee Therapeutics
• Positive Sentiment: Analysts said the Apogee deal could pay off over the long term despite some near-term dilution, since it deepens AbbVie’s immunology pipeline and supports growth beyond Humira. Benzinga: AbbVie’s Costly Apogee Acquisition Has Long-Term Upside: Analyst
• Positive Sentiment: AbbVie also secured European Commission approval for SKYRIZI in pediatric plaque psoriasis, expanding the drug’s addressable market and reinforcing momentum behind one of the company’s key growth products. Yahoo Finance: AbbVie Announces European Commission Approval of SKYRIZI
• Positive Sentiment: The European Commission also approved MAVIRET for acute hepatitis C infection, giving AbbVie a broader EU label for the antiviral and potentially supporting incremental international sales. PR Newswire: AbbVie Announces European Commission Approval of MAVIRET
• Positive Sentiment: Piper Sandler reaffirmed an overweight rating and lifted its price target to $298, signaling continued Wall Street confidence in AbbVie’s growth outlook. Benzinga reference

AbbVie Trading Up 2.2%

Shares of ABBV opened at $235.04 on Wednesday. The stock’s 50-day moving average price is $213.07 and its two-hundred day moving average price is $218.79. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81. The company has a market capitalization of $415.27 billion, a PE ratio of 115.78, a PEG ratio of 0.70 and a beta of 0.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share 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 company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced 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. This represents a $6.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio is currently 340.89%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Guggenheim reaffirmed a “buy” rating and issued a $249.00 target price on shares of AbbVie in a report on Friday, May 1st. Royal Bank Of Canada began coverage on AbbVie in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 target price for the company. Canaccord Genuity Group lifted their price target on AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their price target on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $253.81.

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.