Elevation Point Wealth Partners LLC Has $18.98 Million Stake in AbbVie Inc. $ABBV

Key Points

• Elevation Point Wealth Partners LLC boosted its AbbVie stake by 157.7% in Q1, buying 53,414 more shares and bringing its total holding to 87,277 shares worth about $18.98 million.
• AbbVie is drawing positive attention for recent business developments, including supportive updates on CoolSculpting Elite, encouraging venetoclax data in CLL, and coverage of its Apogee acquisition as a strategic pipeline expansion.
• Wall Street remains constructive on the stock: analysts have a Moderate Buy consensus with an average target price of $253.81, while AbbVie also reported strong quarterly results and declared a $1.73 quarterly dividend.

Elevation Point Wealth Partners LLC lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 157.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,277 shares of the company's stock after purchasing an additional 53,414 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in AbbVie were worth $18,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ABBV. Procyon Advisors LLC increased its stake in shares of AbbVie by 19.9% during the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company's stock worth $7,484,000 after purchasing an additional 5,427 shares during the last quarter. Waycross Partners LLC raised its holdings in shares of AbbVie by 2.9% during the 4th quarter. Waycross Partners LLC now owns 182,476 shares of the company's stock valued at $41,694,000 after purchasing an additional 5,063 shares in the last quarter. Calamos Advisors LLC lifted its stake in shares of AbbVie by 3.4% in the 4th quarter. Calamos Advisors LLC now owns 466,290 shares of the company's stock valued at $106,543,000 after purchasing an additional 15,458 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of AbbVie by 11.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 636,710 shares of the company's stock valued at $143,026,000 after purchasing an additional 66,720 shares during the last quarter. Finally, Savvy Advisors Inc. boosted its holdings in AbbVie by 22.2% in the fourth quarter. Savvy Advisors Inc. now owns 36,568 shares of the company's stock worth $8,355,000 after purchasing an additional 6,646 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie said its ongoing post-market study for CoolSculpting Elite supports the aesthetics franchise, bolstering the outlook for a business that can diversify revenue beyond core pharma. AbbVie’s CoolSculpting Elite Study Update Strengthens Aesthetics Outlook
• Positive Sentiment: AbbVie’s venetoclax data in chronic lymphocytic leukemia added to confidence in the company’s hematology pipeline and long-term commercialization potential. AbbVie Inc. (ABBV) Hits New Milestone with Venetoclax on Chronic Lymphocytic Leukemia (CLL) Treatment
• Positive Sentiment: Commentary around AbbVie as a top dividend and value stock continues to highlight its strong cash flow, income appeal, and recent operating momentum. 3 Dividend Stocks to Buy Hand Over Fist in July
• Neutral Sentiment: Several articles framed AbbVie as an attractive long-term portfolio holding versus peers like Johnson & Johnson, but these pieces were largely comparative and not direct new catalysts. J&J or AbbVie: Which Stock Deserves a Place in Your Portfolio Now?
• Neutral Sentiment: Analyst estimate revisions were mixed but only slightly trimmed FY2027 earnings expectations, suggesting no major change to the fundamental view. AbbVie analyst estimate update
• Positive Sentiment: Coverage around AbbVie’s Apogee acquisition also pointed to a broader strategic moat and pipeline expansion, which can support sentiment on the stock. AbbVie: Apogee Deal Just Widened An Already Dominant Moat

Wall Street Analyst Weigh In

Several equities analysts have commented on ABBV shares. Canaccord Genuity Group increased their target price on shares of AbbVie from $265.00 to $273.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Evercore set a $235.00 price target on AbbVie in a research report on Friday, May 15th. William Blair reiterated an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. Piper Sandler reissued an "overweight" rating and set a $298.00 price objective on shares of AbbVie in a report on Tuesday, June 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of AbbVie in a research note on Tuesday, June 23rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $253.81.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $260.88 on Friday. The company has a market cap of $460.92 billion, a P/E ratio of 128.51, a P/E/G ratio of 0.82 and a beta of 0.30. The stock's 50-day moving average is $218.98 and its 200-day moving average is $220.02. AbbVie Inc. has a 52-week low of $184.63 and a 52-week high of $261.64.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $14.72 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. The firm's revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 14.28 EPS for the current year.

AbbVie Dividend Announcement

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 is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie's payout ratio is 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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