OP Asset Management Ltd Purchases Shares of 310,902 AbbVie Inc. $ABBV

OP Asset Management Ltd purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 310,902 shares of the company’s stock, valued at approximately $67,618,000. AbbVie comprises 0.7% of OP Asset Management Ltd’s holdings, making the stock its 24th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chelsea Counsel Co. purchased a new stake in AbbVie during the third quarter worth approximately $26,000. Litman Gregory Wealth Management LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $28,000. Westend Capital Management LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $29,000. Imprint Wealth LLC raised its holdings in 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. Finally, Texas Capital Bancshares Inc TX purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $31,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Canaccord Genuity Group boosted their price target on shares of AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company set a $260.00 price objective on shares of AbbVie in a research note on Monday. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.81.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie announced European Commission approval of SKYRIZI for pediatric plaque psoriasis, expanding the drug’s addressable market into younger patients and adding a new dosing option. Article Title
• Positive Sentiment: AbbVie also received EU approval for MAVIRET in acute hepatitis C, strengthening an already approved franchise and broadening its use in Europe. Article Title
• Positive Sentiment: AbbVie expanded its pipeline with a new early-stage bretisilocin Phase 1 safety study, signaling continued investment in future growth assets. Article Title
• Neutral Sentiment: Multiple market articles highlighted AbbVie as a potential value/dividend buy and noted analyst price-target support, which may reinforce investor confidence but does not by itself change fundamentals. Article Title
• Neutral Sentiment: Several pieces focused on the broader M&A narrative and the Apogee takeover process, including shareholder scrutiny and investor commentary, which keeps attention on execution risk around the deal. Article Title

AbbVie Trading Up 0.0%

Shares of ABBV opened at $234.79 on Thursday. The company’s 50 day simple moving average is $213.64 and its 200-day simple moving average is $218.83. The firm has a market cap of $414.83 billion, a PE ratio of 115.66, a price-to-earnings-growth ratio of 0.72 and a beta of 0.32. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio is presently 340.89%.

About AbbVie

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.