AbbVie Inc. $ABBV Shares Acquired by Signal Advisors Wealth LLC

Key Points

• Signal Advisors Wealth LLC more than doubled its AbbVie stake in the first quarter, increasing its holdings by 101.5% to 11,748 shares valued at about $2.56 million.
• AbbVie announced a major $10.9 billion cash acquisition of Apogee Therapeutics, a deal seen as strengthening its immunology pipeline with late-stage candidates for atopic dermatitis and asthma.
• The company also received key regulatory wins in Europe, including approval for SKYRIZI in pediatric plaque psoriasis and MAVIRET for acute hepatitis C infection, while analysts remain broadly bullish with a consensus “Moderate Buy” rating.

Signal Advisors Wealth LLC grew its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 101.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,748 shares of the company's stock after acquiring an additional 5,918 shares during the quarter. Signal Advisors Wealth LLC's holdings in AbbVie were worth $2,555,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Worth Asset Management LLC raised its position in shares of AbbVie by 6.7% in the first quarter. Worth Asset Management LLC now owns 1,626 shares of the company's stock valued at $354,000 after buying an additional 102 shares during the last quarter. Sovereign Financial Group Inc. boosted its position in AbbVie by 7.3% during the first quarter. Sovereign Financial Group Inc. now owns 4,198 shares of the company's stock worth $913,000 after acquiring an additional 284 shares during the last quarter. Bell Investment Advisors Inc grew its stake in AbbVie by 23.4% during the 1st quarter. Bell Investment Advisors Inc now owns 3,563 shares of the company's stock valued at $775,000 after acquiring an additional 676 shares in the last quarter. Outlook Wealth Advisors LLC raised its holdings in AbbVie by 4.7% in the 1st quarter. Outlook Wealth Advisors LLC now owns 1,341 shares of the company's stock valued at $292,000 after acquiring an additional 60 shares during the last quarter. Finally, Anchyra Partners LLC raised its holdings in AbbVie by 6.8% in the 1st quarter. Anchyra Partners LLC now owns 5,399 shares of the company's stock valued at $1,174,000 after acquiring an additional 343 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie agreed to buy Apogee Therapeutics for about $10.9 billion in cash, a move that adds late-stage candidates for atopic dermatitis and asthma and is being viewed as a strategic boost to AbbVie’s immunology franchise. Reuters: AbbVie strikes $10.9 billion deal for Apogee Therapeutics
• Positive Sentiment: Analysts said the Apogee deal could pay off over the long term despite some near-term dilution, since it deepens AbbVie’s immunology pipeline and supports growth beyond Humira. Benzinga: AbbVie’s Costly Apogee Acquisition Has Long-Term Upside: Analyst
• Positive Sentiment: AbbVie also secured European Commission approval for SKYRIZI in pediatric plaque psoriasis, expanding the drug’s addressable market and reinforcing momentum behind one of the company’s key growth products. Yahoo Finance: AbbVie Announces European Commission Approval of SKYRIZI
• Positive Sentiment: The European Commission also approved MAVIRET for acute hepatitis C infection, giving AbbVie a broader EU label for the antiviral and potentially supporting incremental international sales. PR Newswire: AbbVie Announces European Commission Approval of MAVIRET
• Positive Sentiment: Piper Sandler reaffirmed an overweight rating and lifted its price target to $298, signaling continued Wall Street confidence in AbbVie’s growth outlook. Benzinga reference

AbbVie Trading Up 2.2%

ABBV opened at $235.04 on Wednesday. The stock's 50-day moving average price is $213.07 and its 200 day moving average price is $218.79. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The firm has a market cap of $415.27 billion, a price-to-earnings ratio of 115.78, a PEG ratio of 0.70 and a beta of 0.32.

AbbVie (NYSE:ABBV - Get Free Report) last released 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. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie's revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS. On average, research analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie's dividend payout ratio is presently 340.89%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent research reports. Guggenheim restated a "buy" rating and set a $249.00 target price on shares of AbbVie in a report on Friday, May 1st. Royal Bank Of Canada assumed coverage on AbbVie in a research report on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 price objective for the company. William Blair restated an "outperform" rating on shares of AbbVie in a research report on Monday, March 9th. Piper Sandler reissued an "overweight" rating and set a $298.00 price objective on shares of AbbVie in a research report on Tuesday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of AbbVie in a report on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $253.81.

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.

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