Epoch Investment Partners Inc. Has $327.57 Million Stock Position in AbbVie Inc. $ABBV

Epoch Investment Partners Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,506,142 shares of the company’s stock after acquiring an additional 151,894 shares during the period. AbbVie makes up approximately 2.0% of Epoch Investment Partners Inc.’s holdings, making the stock its 2nd biggest position. Epoch Investment Partners Inc. owned approximately 0.09% of AbbVie worth $327,571,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ABBV. Litman Gregory Wealth Management LLC bought a new stake in AbbVie in the 4th quarter worth approximately $28,000. Imprint Wealth LLC lifted its holdings in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares during the period. Westend Capital Management LLC purchased a new position in shares of AbbVie in the 4th quarter worth $29,000. IFC & Insurance Marketing Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $31,000. Finally, Legacy Wealth Managment LLC ID grew its holdings in shares of AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company raised their target price on AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Royal Bank Of Canada increased their price objective on shares of AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. UBS Group raised their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Morgan Stanley boosted their target price on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $268.10.

AbbVie Stock Up 0.8%

Shares of ABBV opened at $259.10 on Friday. The business has a 50-day simple moving average of $234.57 and a two-hundred day simple moving average of $222.86. AbbVie Inc. has a 52 week low of $187.62 and a 52 week high of $261.64. The stock has a market cap of $457.78 billion, a price-to-earnings ratio of 127.64, a PEG ratio of 0.85 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating 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 business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 14.18 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio is presently 340.89%.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie is expected to report earnings next week, and several market write-ups highlight the stock as a potential winner if results or guidance beat expectations. Analysts also noted the shares may have room to rise if the company delivers on revenue and profit growth. AbbVie (ABBV) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Canaccord Genuity reiterated a constructive view on AbbVie, with a report saying the stock price is expected to rise, which may be helping sentiment around the name. AbbVie (NYSE:ABBV) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says
• Neutral Sentiment: AbbVie also announced progress on early-stage pipeline work for nacresertib and ABBV-313, but these updates are preliminary and are unlikely to move the stock as much as late-stage clinical data. AbbVie Advances Nacresertib With Key Drug–Drug Interaction Study AbbVie’s ABBV-313 Phase 1 Trial: What Early Safety Work Means for Investors
• Negative Sentiment: AbbVie and Genmab said the Phase 3 EPCORE DLBCL-1 trial for lymphoma drug epcoritamab missed its sole U.S. primary endpoint, a setback that could weigh on sentiment toward the company’s oncology pipeline. Genmab, AbbVie Say Lymphoma Drug Failed to Meet Primary Endpoint in Phase 3 Trial

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.