Candriam S.C.A. Has $248.95 Million Position in AbbVie Inc. $ABBV

Candriam S.C.A. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.2% during the first quarter, Holdings Channel reports. The firm owned 1,144,668 shares of the company’s stock after buying an additional 67,035 shares during the period. AbbVie comprises 1.3% of Candriam S.C.A.’s holdings, making the stock its 8th biggest holding. Candriam S.C.A.’s holdings in AbbVie were worth $248,954,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Bank of Jackson Hole Trust boosted its stake 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 buying an additional 44 shares in the last quarter. Eclectic Associates Inc. ADV raised its stake in 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 acquiring an additional 45 shares in the last quarter. Imprint Wealth LLC lifted its holdings in shares of AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Hardin Capital Partners LLC lifted its holdings 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 acquiring an additional 46 shares during the period. Finally, Dogwood Wealth Management LLC boosted its stake in shares of AbbVie by 10.8% in the 4th 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. 70.23% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about AbbVie

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

Analysts Set New Price Targets

ABBV has been the subject of a number of recent analyst reports. Bank of America increased 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. Wells Fargo & Company upped their price objective on shares of AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday. Guggenheim raised their price objective on shares of AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $262.81.

AbbVie Stock Down 0.8%

Shares of NYSE ABBV opened at $248.00 on Friday. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64. The firm’s 50-day simple moving average is $225.42 and its 200 day simple moving average is $221.25. The company has a market cap of $438.17 billion, a price-to-earnings ratio of 122.17, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 14.39 earnings per share for the current year.

AbbVie Announces Dividend

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

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.