Cura Wealth Advisors LLC Has $63.72 Million Stock Holdings in AbbVie Inc. $ABBV

Cura Wealth Advisors LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 292,983 shares of the company’s stock after buying an additional 11,157 shares during the period. AbbVie accounts for about 28.5% of Cura Wealth Advisors LLC’s portfolio, making the stock its largest holding. Cura Wealth Advisors LLC’s holdings in AbbVie were worth $63,721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $28,000. Westend Capital Management LLC acquired a new position in AbbVie during the fourth quarter valued at approximately $29,000. Imprint Wealth LLC boosted its position in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Legacy Wealth Managment LLC ID grew its stake in AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after purchasing an additional 73 shares in the last quarter. Finally, IFC & Insurance Marketing Inc. bought a new position in AbbVie in the fourth quarter valued at approximately $31,000. 70.23% of the stock is owned by institutional investors.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reported quiet but meaningful pipeline progress in its ABBV-8736 injection study, which could support longer-term growth expectations if the program continues to advance. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: Some coverage says AbbVie should be able to preserve its dividend even after the $10.9 billion Apogee acquisition because the deal is being funded with debt rather than cash, reducing immediate pressure on reserves. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?
• Neutral Sentiment: Broker coverage and article commentary pointed to higher earnings estimates for AbbVie, but also noted the stock may be stretched versus its growth outlook, leaving the market split on whether upside is already priced in. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Neutral Sentiment: Broader pharma commentary placed AbbVie alongside other large drugmakers and suggested it has outperformed the S&P 500, but also described its valuation as relatively elevated compared with growth expectations. 3 Biggest Pharma Giants: Buy, Sell or Hold?
• Negative Sentiment: Some market commentary around AbbVie’s eye-care exposure raised questions about whether the company is pulling back from that segment, which could signal strategic uncertainty for part of its portfolio. BLOG: Exit stage left: Is AbbVie leaving eye care?

AbbVie Stock Down 0.4%

ABBV opened at $253.37 on Tuesday. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64. The business has a 50 day moving average of $230.81 and a 200-day moving average of $222.04. The stock has a market cap of $447.66 billion, a price-to-earnings ratio of 124.81, a PEG ratio of 0.84 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the previous year, the firm earned $2.46 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc. will post 14.18 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is currently 340.89%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $298.00 price objective on shares of AbbVie in a report on Tuesday, June 23rd. Cantor Fitzgerald upped their price target on shares of AbbVie from $240.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Royal Bank Of Canada increased their price target on shares of AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Guggenheim lifted their price objective on shares of AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.67.

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.