9,399 Shares in AbbVie Inc. $ABBV Bought by Gerald Baker Financial Group LLC

Gerald Baker Financial Group LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,399 shares of the company’s stock, valued at approximately $2,044,000.

A number of other institutional investors also recently bought and sold shares of the company. Chelsea Counsel Co. bought a new stake in shares of AbbVie during the 3rd quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter worth approximately $28,000. Westend Capital Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth approximately $29,000. Imprint Wealth LLC boosted its holdings in shares of AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID grew its position in AbbVie by 115.9% during the fourth 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 own 70.23% of the company’s stock.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s neuroscience business is expected to post solid Q2 growth, with key brands and Vyalev in focus ahead of earnings on July 31. Will AbbVie’s Neuroscience Franchise Deliver Another Strong Quarter?
• Positive Sentiment: Multiple analysts have recently raised price targets or kept a constructive view on ABBV, reinforcing confidence in the company’s post-Humira growth strategy and pipeline. AbbVie Inc. (NYSE:ABBV) Receives Average Recommendation of “Moderate Buy” from Brokerages
• Positive Sentiment: Investors are also responding to recent regulatory updates for RINVOQ in severe alopecia areata and a subcutaneous induction option for SKYRIZI in Crohn’s disease, which highlight additional growth drivers. AbbVie regulatory submissions update
• Positive Sentiment: AbbVie has also been the subject of upbeat technical and valuation-focused coverage, with commentary pointing to strong momentum and continued investor interest after a multi-year run. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: One article questioned whether AbbVie is fully valued after Tepkinly, but it did not signal a clear bearish catalyst. Is AbbVie (NYSE:ABBV) Fully Valued After Tepkinly?
• Neutral Sentiment: AbbVie’s stock has also drawn attention from traders and long-term holders as they wait for earnings and updates on its pipeline and guidance. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Cantor Fitzgerald boosted their price objective on shares of AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Wells Fargo & Company upped their price objective on AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. UBS Group raised their target price on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Citigroup lifted their target price on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday. Two 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 company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $267.67.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $254.29 on Friday. AbbVie Inc. has a 1-year low of $184.63 and a 1-year high of $261.64. The company has a market capitalization of $449.28 billion, a P/E ratio of 125.27, a P/E/G ratio of 0.81 and a beta of 0.30. The firm’s 50 day simple moving average is $228.73 and its two-hundred day simple moving average is $221.71.

AbbVie (NYSE:ABBV) last posted its quarterly 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. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.18 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

AbbVie Company 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.