Evansbrook LLC Invests $796,000 in AbbVie Inc. $ABBV

Evansbrook LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, Holdings Channel reports. The fund acquired 3,482 shares of the company’s stock, valued at approximately $796,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust raised its position in AbbVie by 0.6% during the fourth quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock worth $1,648,000 after acquiring an additional 44 shares during the last quarter. Eclectic Associates Inc. ADV grew its position in shares of AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock valued at $1,337,000 after purchasing an additional 45 shares during the last quarter. Imprint Wealth LLC increased its stake in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Hardin Capital Partners LLC increased its stake in shares of AbbVie by 1.4% during the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after purchasing an additional 46 shares in the last quarter. Finally, Dogwood Wealth Management LLC raised its position in shares of AbbVie by 10.8% during the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock worth $108,000 after purchasing an additional 46 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABBV. Piper Sandler upped their target price on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Morgan Stanley raised their price target on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price target on shares of AbbVie in a report on Thursday, April 30th. Royal Bank Of Canada initiated coverage on AbbVie in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price objective on the stock. Finally, Guggenheim reaffirmed a “buy” rating and set a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $253.43.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

AbbVie Trading Down 2.1%

Shares of NYSE:ABBV opened at $216.63 on Friday. The firm has a market cap of $382.74 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 0.68 and a beta of 0.32. The stock’s 50-day moving average price is $212.08 and its two-hundred day moving average price is $218.78. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81.

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. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.46 EPS. As a group, research analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, July 15th. AbbVie’s 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.