AbbVie Inc. $ABBV Stock Position Boosted by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its AbbVie stake by 13.7% in the first quarter, adding 183,488 shares and bringing its holdings to about 1.52 million shares valued at roughly $330.6 million.
• Sentiment around AbbVie remains constructive, with analysts at firms such as Wells Fargo and BMO Capital Markets raising price targets and several recent articles highlighting stock outperformance and pipeline progress.
• AbbVie reported stronger-than-expected quarterly results, posting $2.65 EPS on $15 billion in revenue, and it also announced a quarterly dividend of $1.73 per share payable on August 14.

First Trust Advisors LP raised its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,519,986 shares of the company's stock after buying an additional 183,488 shares during the period. First Trust Advisors LP owned approximately 0.09% of AbbVie worth $330,582,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Litman Gregory Wealth Management LLC bought a new position in AbbVie during the fourth quarter valued at about $28,000. Imprint Wealth LLC raised its position in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Westend Capital Management LLC acquired a new stake in AbbVie in the 4th quarter valued at about $29,000. IFC & Insurance Marketing Inc. acquired a new stake in AbbVie in the 4th quarter valued at about $31,000. Finally, Legacy Wealth Managment LLC ID boosted its position in shares of AbbVie by 115.9% during the 4th 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. 70.23% of the stock is currently owned by institutional investors.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s stock has been outperforming the broader market, with recent trading strength reinforcing investor confidence in the name. AbbVie (ABBV) Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: Analysts at Erste Group Bank reportedly raised earnings estimates for AbbVie, which can support the shares if investors expect stronger profit growth ahead. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Positive Sentiment: AbbVie said its ABBV-8736 injection study showed “quiet but meaningful” pipeline progress, adding another sign that its drug development efforts are advancing. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: A recent bullish article argued AbbVie looks like a strong buy-and-hold candidate, reflecting generally constructive sentiment around the stock. 3 Reasons to Buy AbbVie Stock Like There's No Tomorrow
• Neutral Sentiment: A separate article discussed broader biotech and healthcare market trends, but it does not appear to have a direct company-specific impact on AbbVie. Biotech IPOs Surge 55% as AI Listings Lose Momentum
• Neutral Sentiment: Another article questioned whether AbbVie is leaving eye care, but the available headline alone does not indicate a clear financial impact. BLOG: Exit stage left: Is AbbVie leaving eye care?
• Neutral Sentiment: Coverage of AbbVie’s $10.9 billion Apogee acquisition focused on potential dividend effects, but the headline suggests investors are mainly evaluating the deal rather than reacting to a fresh negative catalyst. How Will AbbVie's $10.9 Billion Acquisition of Apogee Impact Its Dividend?

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of AbbVie from $260.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. BMO Capital Markets increased their target price on shares of AbbVie from $258.00 to $300.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Weiss Ratings restated a "hold (c)" rating on shares of AbbVie in a report on Monday, June 8th. Sanford C. Bernstein restated a "market perform" rating on shares of AbbVie in a research report on Tuesday, June 23rd. Finally, Cantor Fitzgerald upped their price target on AbbVie from $240.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $267.67.

AbbVie Trading Up 1.1%

NYSE ABBV opened at $256.18 on Wednesday. AbbVie Inc. has a 1 year low of $184.90 and a 1 year high of $261.64. The company has a market cap of $452.62 billion, a PE ratio of 126.20, a PEG ratio of 0.84 and a beta of 0.30. The stock's 50-day moving average price is $231.78 and its two-hundred day moving average price is $222.23.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during 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%. The business's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the company posted $2.46 earnings per share. Research analysts forecast that AbbVie Inc. will post 14.18 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid 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 yield of 2.7%. AbbVie's dividend payout ratio (DPR) is currently 340.89%.

About AbbVie

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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