AbbVie Inc. $ABBV Shares Sold by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 38.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,897 shares of the company’s stock after selling 6,699 shares during the quarter. Midwest Professional Planners LTD.’s holdings in AbbVie were worth $2,370,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Chelsea Counsel Co. purchased a new stake in AbbVie in the 3rd quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC acquired a new position in AbbVie during the 4th quarter worth approximately $28,000. Westend Capital Management LLC purchased a new position in shares of AbbVie during the 4th quarter worth approximately $29,000. Imprint Wealth LLC lifted its holdings in shares of AbbVie by 56.2% in 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. Finally, Legacy Wealth Managment LLC ID lifted its holdings in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.2%

NYSE:ABBV opened at $244.21 on Thursday. The company has a market capitalization of $431.47 billion, a P/E ratio of 120.30, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The firm has a 50-day moving average price of $227.70 and a two-hundred day moving average price of $221.54. AbbVie Inc. has a twelve month low of $184.63 and a twelve month high of $261.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc. will post 14.22 earnings per share for the current year.

AbbVie Dividend Announcement

The business 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 dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s long-term safety and efficacy extension data for Bimatoprost SR could strengthen the case for its glaucoma pipeline if results continue to show durable safety and benefit. AbbVie’s Bimatoprost SR Extension Data: Why Long-Term Glaucoma Safety Matters for Investors
• Positive Sentiment: Analyst commentary highlighted confidence in AbbVie’s ability to replace Humira revenue, with Skyrizi and Rinvoq helping ease concerns about the company’s long-term earnings outlook. Should You Buy, Sell or Hold ABBV Stock After Its 9% YTD Rise?
• Positive Sentiment: AbbVie has also been described as a trending stock, suggesting elevated investor attention that can reinforce momentum in the shares. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Separate technical coverage pointed to a bullish “golden cross” setup, which may be encouraging traders looking for continued upside momentum in AbbVie. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: AbbVie was the target of unusually heavy call-option buying, which shows speculation and near-term trading interest but does not by itself confirm fundamental strength.
• Neutral Sentiment: Some valuation-focused commentary said the stock may be fully priced after its multi-year run, which could temper enthusiasm even as the growth story remains intact. AbbVie (ABBV) Stock Looks Fully Priced After A 152% Run
• Negative Sentiment: Reports that AbbVie has extended a slide for multiple sessions suggest some traders have been taking profits or reacting to valuation concerns in the near term. AbbVie extends slide to a seventh straight session

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent analyst reports. Guggenheim upped their price objective on AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Canaccord Genuity Group upped their price target on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Wells Fargo & Company raised their price objective on shares of AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Evercore set a $235.00 price objective on shares of AbbVie in a report on Friday, May 15th. Finally, Morgan Stanley upped their target price on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $267.67.

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.