AbbVie Inc. $ABBV Shares Purchased by Wiregrass Investment Management LLC

Wiregrass Investment Management LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 73.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,094 shares of the company’s stock after purchasing an additional 2,159 shares during the period. Wiregrass Investment Management LLC’s holdings in AbbVie were worth $1,108,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Litman Gregory Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $28,000. Imprint Wealth LLC increased 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 acquiring an additional 45 shares during the last quarter. Westend Capital Management LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at approximately $29,000. IFC & Insurance Marketing Inc. bought a new position in AbbVie during the fourth quarter worth $31,000. Finally, Legacy Wealth Managment LLC ID boosted its holdings in 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 purchasing an additional 73 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 1.1%

Shares of NYSE:ABBV opened at $256.18 on Wednesday. The company has a 50 day moving average of $231.78 and a 200-day moving average of $222.23. The firm has a market cap of $452.62 billion, a P/E ratio of 126.20, a P/E/G ratio of 0.84 and a beta of 0.30. AbbVie Inc. has a twelve month low of $184.90 and a twelve month high of $261.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating 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 business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter last year, the business earned $2.46 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 14.18 EPS for the current year.

AbbVie Dividend Announcement

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 paid a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group raised their price target on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. HSBC reaffirmed a “buy” rating and set a $300.00 target price on shares of AbbVie in a report on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Evercore set a $235.00 price objective on AbbVie in a research note on Friday, May 15th. Finally, UBS Group increased their target price on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $267.67.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s stock has been outperforming the broader market, with recent trading strength reinforcing investor confidence in the name. AbbVie (ABBV) Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: Analysts at Erste Group Bank reportedly raised earnings estimates for AbbVie, which can support the shares if investors expect stronger profit growth ahead. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Positive Sentiment: AbbVie said its ABBV-8736 injection study showed “quiet but meaningful” pipeline progress, adding another sign that its drug development efforts are advancing. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: A recent bullish article argued AbbVie looks like a strong buy-and-hold candidate, reflecting generally constructive sentiment around the stock. 3 Reasons to Buy AbbVie Stock Like There’s No Tomorrow
• Neutral Sentiment: A separate article discussed broader biotech and healthcare market trends, but it does not appear to have a direct company-specific impact on AbbVie. Biotech IPOs Surge 55% as AI Listings Lose Momentum
• Neutral Sentiment: Another article questioned whether AbbVie is leaving eye care, but the available headline alone does not indicate a clear financial impact. BLOG: Exit stage left: Is AbbVie leaving eye care?
• Neutral Sentiment: Coverage of AbbVie’s $10.9 billion Apogee acquisition focused on potential dividend effects, but the headline suggests investors are mainly evaluating the deal rather than reacting to a fresh negative catalyst. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?

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.