ABN Amro Investment Solutions Buys 105,906 Shares of AbbVie Inc. $ABBV

Key Points

• ABN Amro Investment Solutions increased its AbbVie stake by 80.6% in the first quarter, buying 105,906 additional shares and bringing its total holdings to 237,318 shares valued at about $51.6 million.
• AbbVie reported better-than-expected Q1 earnings, with EPS of $2.65 versus $2.59 expected and revenue of $15 billion, up 12.4% year over year.
• The company also announced a quarterly dividend of $1.73 per share, payable August 14, representing a 2.7% annualized yield, while analysts remain generally bullish with a consensus Moderate Buy rating and average target of $267.67.

ABN Amro Investment Solutions boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 80.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 237,318 shares of the company's stock after buying an additional 105,906 shares during the period. ABN Amro Investment Solutions' holdings in AbbVie were worth $51,614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Litman Gregory Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $28,000. Imprint Wealth LLC lifted its position in AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock valued at $29,000 after acquiring an additional 45 shares during the period. Westend Capital Management LLC purchased a new position in AbbVie during the 4th quarter valued at about $29,000. IFC & Insurance Marketing Inc. bought a new stake in AbbVie during the fourth quarter worth about $31,000. Finally, Legacy Wealth Managment LLC ID grew its holdings in AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock worth $31,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Up 1.1%

AbbVie stock opened at $256.18 on Wednesday. The company has a market cap of $452.62 billion, a price-to-earnings ratio of 126.20, a PEG ratio of 0.84 and a beta of 0.30. The firm's fifty day moving average is $231.78 and its 200 day moving average is $222.23. AbbVie Inc. has a 52-week low of $184.90 and a 52-week 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 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.72 billion. During the same period last year, the company posted $2.46 EPS. The business's revenue was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post 14.18 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

Trending Headlines about AbbVie

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?

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ABBV shares. Wells Fargo & Company lifted their target price on shares of AbbVie from $260.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, July 10th. JPMorgan Chase & Co. raised their price objective on AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. DZ Bank raised AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. UBS Group raised their price target on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Finally, Evercore set a $235.00 price objective on shares of AbbVie in a research note on Friday, May 15th. Two 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. According to MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $267.67.

AbbVie Company 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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