Healthcare of Ontario Pension Plan Trust Fund Has $455.85 Million Holdings in AbbVie Inc. $ABBV

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 749.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,095,979 shares of the company’s stock after buying an additional 1,849,110 shares during the period. AbbVie makes up 0.7% of Healthcare of Ontario Pension Plan Trust Fund’s investment portfolio, making the stock its 25th largest holding. Healthcare of Ontario Pension Plan Trust Fund owned about 0.12% of AbbVie worth $455,854,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABBV. Litman Gregory Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $28,000. Imprint Wealth LLC grew its stake in shares of AbbVie by 56.2% in the 4th 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. Westend Capital Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at about $29,000. IFC & Insurance Marketing Inc. bought a new stake in AbbVie in the 4th quarter valued at about $31,000. Finally, Legacy Wealth Managment LLC ID increased its position in AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $259.10 on Friday. The stock has a market cap of $457.78 billion, a price-to-earnings ratio of 127.64, a PEG ratio of 0.85 and a beta of 0.30. AbbVie Inc. has a fifty-two week low of $187.62 and a fifty-two week high of $261.64. The firm’s 50-day simple moving average is $234.57 and its 200 day simple moving average is $222.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 analyst estimates of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 14.18 EPS for the current year.

AbbVie Dividend Announcement

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 issued a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s dividend payout ratio is 340.89%.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie is expected to report earnings next week, and several market write-ups highlight the stock as a potential winner if results or guidance beat expectations. Analysts also noted the shares may have room to rise if the company delivers on revenue and profit growth. AbbVie (ABBV) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Canaccord Genuity reiterated a constructive view on AbbVie, with a report saying the stock price is expected to rise, which may be helping sentiment around the name. AbbVie (NYSE:ABBV) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says
• Neutral Sentiment: AbbVie also announced progress on early-stage pipeline work for nacresertib and ABBV-313, but these updates are preliminary and are unlikely to move the stock as much as late-stage clinical data. AbbVie Advances Nacresertib With Key Drug–Drug Interaction Study AbbVie’s ABBV-313 Phase 1 Trial: What Early Safety Work Means for Investors
• Negative Sentiment: AbbVie and Genmab said the Phase 3 EPCORE DLBCL-1 trial for lymphoma drug epcoritamab missed its sole U.S. primary endpoint, a setback that could weigh on sentiment toward the company’s oncology pipeline. Genmab, AbbVie Say Lymphoma Drug Failed to Meet Primary Endpoint in Phase 3 Trial

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ABBV shares. Piper Sandler reiterated an “overweight” rating and issued a $298.00 price target on shares of AbbVie in a report on Tuesday, June 23rd. HSBC restated a “buy” rating and set a $300.00 price objective on shares of AbbVie in a report on Monday, July 6th. Citigroup upped their target price on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada increased their target price on AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Finally, DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.10.

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.