AbbVie Inc. $ABBV Shares Purchased by SageGuard Financial Group LLC

SageGuard Financial Group LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 28.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 18,699 shares of the company’s stock after purchasing an additional 4,143 shares during the period. SageGuard Financial Group LLC’s holdings in AbbVie were worth $4,067,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after purchasing an additional 3,032,438 shares during the period. State Street Corp increased its holdings in AbbVie by 1.4% in the 4th quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC raised its position in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after purchasing an additional 4,190,487 shares during the period. Bank of America Corp DE raised its position in AbbVie by 1.4% in the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after purchasing an additional 356,394 shares during the period. Finally, Norges Bank acquired a new position in shares of AbbVie during the fourth quarter worth about $5,865,055,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie News Roundup

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABBV. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price for the company in a research report on Thursday, April 30th. Wall Street Zen upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday. Guggenheim reissued a “buy” rating and set a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $298.00 price objective on shares of AbbVie in a research report on Tuesday, June 23rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $253.81.

AbbVie Price Performance

NYSE:ABBV opened at $253.86 on Tuesday. The firm has a 50-day moving average of $216.06 and a two-hundred day moving average of $219.38. The stock has a market cap of $448.52 billion, a P/E ratio of 125.06, a PEG 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.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 14.28 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed 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 is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is 340.89%.

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.