AbbVie Inc. $ABBV Shares Acquired by OMC Financial Services LTD

OMC Financial Services LTD increased its position in AbbVie Inc. (NYSE:ABBV) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,921 shares of the company’s stock after buying an additional 2,839 shares during the quarter. AbbVie comprises about 4.5% of OMC Financial Services LTD’s investment portfolio, making the stock its 6th biggest position. OMC Financial Services LTD’s holdings in AbbVie were worth $11,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new position in shares of AbbVie in the 3rd quarter valued at about $26,000. Litman Gregory Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth approximately $28,000. Westend Capital Management LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $29,000. Imprint Wealth LLC raised its holdings in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares during the period. Finally, Texas Capital Bancshares Inc TX acquired a new position in AbbVie during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Evercore set a $235.00 target price on shares of AbbVie in a report on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Cantor Fitzgerald increased their price target on AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Finally, Canaccord Genuity Group raised their price objective on AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.81.

AbbVie Stock Down 0.8%

Shares of NYSE ABBV traded down $1.91 during trading on Friday, reaching $248.00. 5,780,723 shares of the stock were exchanged, compared to its average volume of 8,942,850. The company has a market capitalization of $438.17 billion, a price-to-earnings ratio of 122.17, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The business’s 50-day moving average price is $225.42 and its 200 day moving average price is $221.25. AbbVie Inc. has a twelve month low of $184.63 and a twelve month high of $261.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share 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 during the quarter, compared to analyst estimates of $14.72 billion. During the same period last year, the business earned $2.46 EPS. The business’s revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 14.39 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s payout ratio is presently 340.89%.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Bank of America raised AbbVie’s price target to $276 from $234 and reiterated a buy rating, signaling confidence in additional upside for the shares. Bank of America raises AbbVie price target
• Positive Sentiment: RBC Capital also increased its price target to $280 from $260 and kept an outperform rating, adding to the wave of analyst support. RBC raises AbbVie price target
• Positive Sentiment: JPMorgan likewise lifted its target to $280 from $260 and maintained an overweight rating, reinforcing a favorable near-term outlook for AbbVie. JPMorgan raises AbbVie price target
• Neutral Sentiment: Recent coverage comparing Johnson & Johnson and AbbVie highlighted how both pharma giants’ latest quarterly results are shaping income-investor preferences, but it did not point to a clear new catalyst for AbbVie. Johnson & Johnson vs AbbVie article
• Neutral Sentiment: AbbVie also appeared in an industry piece on the expanding cystic fibrosis market, which may be supportive of long-term therapeutic demand but is not an immediate stock-moving event. Cystic fibrosis market article
• Negative Sentiment: Despite the analyst upgrades, AbbVie was recently reported as having moved lower in trading, suggesting the stock is still contending with profit-taking or broader market pressure. AbbVie stock drops despite market gains
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a routine transaction that may support AbbVie’s drug-delivery capabilities but is unlikely to move the stock on its own. West Pharmaceutical SmartDose sale to AbbVie

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.