Cetera Investment Advisers Purchases 15,857 Shares of AbbVie Inc. $ABBV

Key Points

• Cetera Investment Advisers increased its AbbVie stake by 1.7% in the first quarter, buying 15,857 additional shares and bringing its total holdings to 965,429 shares worth about $209.97 million.
• Analyst sentiment remains generally positive: Royal Bank of Canada and JPMorgan both raised their price targets to $280, and AbbVie now carries an average Moderate Buy rating with a consensus target of $268.10.
• AbbVie reported strong quarterly results, with earnings and revenue both beating estimates, and it also announced a $1.73 quarterly dividend payable August 14, implying a 2.7% yield.

Cetera Investment Advisers lifted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 965,429 shares of the company's stock after purchasing an additional 15,857 shares during the quarter. Cetera Investment Advisers owned 0.05% of AbbVie worth $209,971,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Litman Gregory Wealth Management LLC purchased a new position in shares of AbbVie in the 4th quarter worth $28,000. Imprint Wealth LLC increased its holdings in shares of AbbVie by 56.2% in 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 purchased a new stake in shares of AbbVie during the 4th quarter valued at about $29,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at about $31,000. Finally, Legacy Wealth Managment LLC ID lifted its holdings in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock valued at $31,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on ABBV shares. Evercore set a $235.00 price target on AbbVie in a research report on Friday, May 15th. Royal Bank Of Canada lifted their target price on AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 5th. Weiss Ratings restated a "hold (c)" rating on shares of AbbVie in a report on Monday, June 8th. Finally, JPMorgan Chase & Co. raised their price target on AbbVie from $260.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $268.10.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Canaccord Genuity raised its price target on AbbVie to $282 from $273 and reiterated a buy rating, signaling confidence in further upside for AbbVie Inc. (ABBV). Benzinga report
• Positive Sentiment: AbbVie’s aesthetics business got a boost after Allergan Aesthetics received European Commission approval for Boey, expanding the company’s portfolio in Europe and potentially supporting future revenue growth. Yahoo Finance article
• Neutral Sentiment: Several recent articles characterized AbbVie as a strong buy-and-hold name and noted that the stock has recently outperformed the broader market, reinforcing a generally constructive long-term view. Yahoo Finance article
• Negative Sentiment: Investors are watching AbbVie’s Q2 oncology revenue closely, with analysts warning that weakness in Imbruvica may outweigh gains from Venclexta and newer cancer treatments, which could pressure results. Yahoo Finance article

AbbVie Stock Performance

Shares of ABBV stock opened at $253.75 on Thursday. The stock has a 50 day moving average price of $232.69 and a 200 day moving average price of $222.41. AbbVie Inc. has a 52-week low of $186.77 and a 52-week high of $261.64. The firm has a market capitalization of $448.32 billion, a P/E ratio of 125.00, a P/E/G ratio of 0.85 and a beta of 0.30.

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, topping analysts' consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter last year, the firm posted $2.46 earnings per share. The business's revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie Inc. will post 14.18 EPS for the current year.

AbbVie Dividend Announcement

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 paid a $1.73 dividend. 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 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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