BXM Wealth LLC Sells 3,674 Shares of AbbVie Inc. $ABBV

BXM Wealth LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 49.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,778 shares of the company’s stock after selling 3,674 shares during the period. BXM Wealth LLC’s holdings in AbbVie were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares during the period. Schnieders Capital Management LLC. grew its position in shares of AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after purchasing an additional 789 shares in the last quarter. Ieq Capital LLC grew its position in shares of AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after purchasing an additional 612,702 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABBV. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of AbbVie in a report on Tuesday, June 23rd. Guggenheim restated a “buy” rating and set a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Three equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $253.81.

AbbVie Price Performance

Shares of ABBV stock opened at $253.86 on Tuesday. The company has a market cap of $448.52 billion, a PE ratio of 125.06, a price-to-earnings-growth ratio of 0.77 and a beta of 0.32. AbbVie Inc. has a 1 year low of $181.75 and a 1 year high of $255.99. The stock’s 50 day simple moving average is $216.06 and its two-hundred day simple moving average is $219.38.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. Equities research analysts expect that AbbVie Inc. will post 14.28 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is currently 340.89%.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reported positive Phase 3 results for epcoritamab plus lenalidomide in relapsed/refractory diffuse large B-cell lymphoma, with the trial meeting its primary endpoint and showing a clinically meaningful improvement in progression-free survival. Article Title
• Positive Sentiment: The European Medicines Agency CHMP issued positive opinions for Rinvoq (upadacitinib) in severe alopecia areata and non-segmental vitiligo, increasing the odds of future EU approvals and expanding AbbVie’s dermatology franchise. Article Title
• Positive Sentiment: The FDA approved Skyrizi for pediatric psoriasis, broadening the drug’s label and supporting further sales growth in AbbVie’s immunology business. Article Title
• Positive Sentiment: AbbVie also received a $100 million milestone-related payment tied to REGENXBIO’s diabetic retinopathy program, signaling continued progress in partnered ophthalmology assets. Article Title
• Neutral Sentiment: AbbVie is set to trade ex-dividend on July 15, which may attract income-focused investors but is generally a routine calendar event rather than a new catalyst. Article Title
• Neutral Sentiment: Recent commentary noted AbbVie’s shares have hit new 52-week highs and have been supported by strong earnings revisions, but this is more a reflection of recent momentum than a fresh company-specific event. Article Title

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.