Amundi Has $2.33 Billion Holdings in AbbVie Inc. $ABBV

Amundi raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,698,095 shares of the company's stock after buying an additional 247,689 shares during the period. AbbVie comprises approximately 0.6% of Amundi's investment portfolio, making the stock its 19th biggest holding. Amundi owned approximately 0.61% of AbbVie worth $2,326,728,000 at the end of the most recent quarter.

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

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Skyrizi and Rinvoq remain key growth drivers. The two immunology drugs are reportedly growing at more than 20% and have increasingly offset Humira’s loss of exclusivity, strengthening confidence in AbbVie’s long-term revenue outlook. Should You Buy, Hold or Sell ABBV Stock Ahead of Q2 Earnings?
• Positive Sentiment: Income and guidance support the investment case. Coverage highlights AbbVie’s roughly 2.62% dividend yield and raised earnings guidance, presenting ABBV as a combination of income, growth and comparatively low volatility ahead of the quarterly report. 3 Major Reasons for Investors to Buy AbbVie Stock Before July 31st
• Positive Sentiment: Pipeline and real-world data provide additional support. AbbVie completed a real-world RINVOQ study in psoriatic arthritis, while early safety data from the ABBV-722 Phase 1 program offer incremental pipeline visibility, though neither update is yet a major revenue catalyst. AbbVie Wraps Up Real-World RINVOQ Study in Psoriatic Arthritis
• Neutral Sentiment: Former AbbVie executive Michael Severino was named Sarepta Therapeutics’ CEO. The appointment is not expected to materially affect AbbVie’s operations, but it highlights the departure of a longtime AbbVie leader from the broader biopharmaceutical sector. Sarepta Names Former AbbVie President as CEO
• Negative Sentiment: Near-term “sell the news” risk remains. AbbVie’s recent rally has raised the possibility of profit-taking if second-quarter results, guidance or drug sales fail to exceed elevated expectations, despite the favorable long-term view. Should You Buy AbbVie Stock Hand Over Fist Before July 31?

Analyst Ratings Changes

Several research firms have recently commented on ABBV. Evercore set a $235.00 target price on AbbVie in a research report on Friday, May 15th. UBS Group lifted their price target on AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Cantor Fitzgerald boosted their price target on AbbVie from $240.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Bank of America boosted their price target on AbbVie from $234.00 to $276.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, Canaccord Genuity Group upped their price objective on AbbVie from $273.00 to $282.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $268.10.

AbbVie Trading Up 2.6%

NYSE ABBV opened at $263.49 on Wednesday. The firm's 50 day simple moving average is $236.52 and its 200 day simple moving average is $223.32. The firm has a market capitalization of $465.53 billion, a price-to-earnings ratio of 129.80, a P/E/G ratio of 0.85 and a beta of 0.30. AbbVie Inc. has a 1 year low of $187.62 and a 1 year high of $266.92.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion during 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%. The company's revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.46 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 14.16 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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 2.6%. AbbVie's payout ratio is 340.89%.

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.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.