AbbVie Inc. $ABBV Shares Sold by Midwest Professional Planners LTD.

Key Points

• Midwest Professional Planners LTD. cut its AbbVie stake by 38.1% in the first quarter, selling 6,699 shares and leaving it with 10,897 shares valued at about $2.37 million.
• AbbVie’s latest quarterly results topped expectations, with EPS of $2.65 and revenue of $15 billion, while revenue rose 12.4% year over year.
• Wall Street remains broadly positive on the stock: several firms raised price targets, and AbbVie now has a Moderate Buy consensus rating with an average target price of $267.67.

Midwest Professional Planners LTD. lowered its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 38.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,897 shares of the company's stock after selling 6,699 shares during the quarter. Midwest Professional Planners LTD.'s holdings in AbbVie were worth $2,370,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. purchased a new position in AbbVie in the third quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $28,000. Imprint Wealth LLC lifted its position in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after buying an additional 45 shares during the last quarter. Westend Capital Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $29,000. Finally, IFC & Insurance Marketing Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s long-term safety and efficacy extension data for Bimatoprost SR could strengthen the case for its glaucoma pipeline if results continue to show durable safety and benefit. AbbVie’s Bimatoprost SR Extension Data: Why Long-Term Glaucoma Safety Matters for Investors
• Positive Sentiment: Analyst commentary highlighted confidence in AbbVie’s ability to replace Humira revenue, with Skyrizi and Rinvoq helping ease concerns about the company’s long-term earnings outlook. Should You Buy, Sell or Hold ABBV Stock After Its 9% YTD Rise?
• Positive Sentiment: AbbVie has also been described as a trending stock, suggesting elevated investor attention that can reinforce momentum in the shares. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Separate technical coverage pointed to a bullish “golden cross” setup, which may be encouraging traders looking for continued upside momentum in AbbVie. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: AbbVie was the target of unusually heavy call-option buying, which shows speculation and near-term trading interest but does not by itself confirm fundamental strength.
• Neutral Sentiment: Some valuation-focused commentary said the stock may be fully priced after its multi-year run, which could temper enthusiasm even as the growth story remains intact. AbbVie (ABBV) Stock Looks Fully Priced After A 152% Run
• Negative Sentiment: Reports that AbbVie has extended a slide for multiple sessions suggest some traders have been taking profits or reacting to valuation concerns in the near term. AbbVie extends slide to a seventh straight session

AbbVie Price Performance

ABBV stock opened at $244.21 on Thursday. The company has a market cap of $431.47 billion, a price-to-earnings ratio of 120.30, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The company has a fifty day moving average price of $227.70 and a 200 day moving average price of $221.54. AbbVie Inc. has a 12 month low of $184.63 and a 12 month high of $261.64.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) 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 the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. As a group, analysts anticipate that AbbVie Inc. will post 14.22 earnings per share for the current year.

AbbVie Announces Dividend

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 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 (DPR) is currently 340.89%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research analyst reports. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 5th. JPMorgan Chase & Co. upped their price objective on shares of AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Royal Bank Of Canada raised their price objective on AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Morgan Stanley lifted their target price on AbbVie from $270.00 to $278.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Piper Sandler reissued an "overweight" rating and issued a $298.00 target price on shares of AbbVie in a report on Tuesday, June 23rd. Two investment 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 company's stock. According to MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price 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.

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