MASTERINVEST Kapitalanlage GmbH Sells 8,675 Shares of AbbVie Inc. $ABBV

MASTERINVEST Kapitalanlage GmbH lowered its position in AbbVie Inc. (NYSE:ABBV) by 10.5% in the 1st quarter, HoldingsChannel reports. The fund owned 73,881 shares of the company’s stock after selling 8,675 shares during the period. AbbVie accounts for about 1.7% of MASTERINVEST Kapitalanlage GmbH’s holdings, making the stock its 11th biggest position. MASTERINVEST Kapitalanlage GmbH’s holdings in AbbVie were worth $16,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Chelsea Counsel Co. purchased a new stake in shares of AbbVie during the 3rd quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC purchased a new position in AbbVie in the 4th quarter valued at approximately $28,000. Westend Capital Management LLC bought a new stake in AbbVie during the 4th quarter valued at $29,000. Imprint Wealth LLC raised its holdings in AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Finally, Legacy Wealth Managment LLC ID lifted its position in shares of AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ABBV shares. Bank of America raised their price target on AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Piper Sandler reissued an “overweight” rating and set a $298.00 price objective on shares of AbbVie in a report on Tuesday, June 23rd. Evercore set a $235.00 target price on AbbVie in a report on Friday, May 15th. Wells Fargo & Company increased their price target on shares of AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.24.

AbbVie Stock Down 1.3%

NYSE:ABBV opened at $244.75 on Wednesday. The stock has a market cap of $432.42 billion, a P/E ratio of 120.57, a PEG ratio of 0.82 and a beta of 0.30. The business’s 50-day moving average price is $226.92 and its two-hundred day moving average price is $221.44. AbbVie Inc. has a twelve month low of $184.63 and a twelve month high of $261.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 14.22 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: BMO Capital Markets raised its price target on AbbVie to $300 from $258 and kept an outperform rating, signaling confidence in further upside for the shares.
• Positive Sentiment: Traders bought far more AbbVie call options than usual, suggesting some investors are positioning for a rebound or expecting a near-term catalyst.
• Positive Sentiment: AbbVie’s Allergan Aesthetics unit said SkinMedica is expanding its commitment to regenerative science, including more R&D investment and new advisory support, which reinforces AbbVie’s pipeline and innovation narrative. SkinMedica® Deepens Commitment to Regenerative Science with Continued Investment in Research and Development
• Positive Sentiment: Reports that AbbVie’s pharmaceutical project in Durham is moving forward point to continued operational expansion and investment.
• Neutral Sentiment: Analyst commentary from Zacks discussed whether AbbVie is a buy as Wall Street remains optimistic, but it did not introduce a new material corporate event. Is AbbVie (ABBV) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: AbbVie-related community and employee engagement updates in Asia are unlikely to move the stock much in the near term.
• Negative Sentiment: The stock has continued to slide for a seventh straight session, suggesting momentum has remained weak even with supportive analyst and options activity.
• Negative Sentiment: Broader sector concerns about big pharma’s looming patent-expiration problem may keep pressure on AbbVie and other drugmakers as investors focus on future revenue replacement needs.

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.