Keybank National Association OH Raises Position in AbbVie Inc. $ABBV

Key Points

• Keybank National Association OH increased its AbbVie stake by 8.9% in the first quarter, buying 93,584 more shares and bringing its holding to 1,146,641 shares worth about $249.4 million.
• AbbVie is getting a boost from several positive business updates, including progress on CoolSculpting Elite, encouraging venetoclax data in CLL, and commentary around the Apogee acquisition expanding its pipeline and moat.
• Wall Street remains constructive overall: analysts have a Moderate Buy consensus on ABBV, and the company recently reported better-than-expected quarterly results and declared a $1.73 quarterly dividend, implying a 2.7% yield.

Keybank National Association OH boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,146,641 shares of the company's stock after buying an additional 93,584 shares during the period. AbbVie makes up about 0.9% of Keybank National Association OH's holdings, making the stock its 24th largest holding. Keybank National Association OH owned 0.06% of AbbVie worth $249,383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of AbbVie in the 4th quarter valued at about $5,865,055,000. Wellington Management Group LLP grew its holdings in shares of AbbVie by 457.4% during the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock worth $2,439,714,000 after purchasing an additional 8,646,424 shares in the last quarter. Capital World Investors grew its holdings in shares of AbbVie by 106.3% during the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company's stock worth $2,986,777,000 after purchasing an additional 6,736,161 shares in the last quarter. Cardano Risk Management B.V. increased its position in shares of AbbVie by 914.6% in the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company's stock worth $1,244,112,000 after purchasing an additional 4,908,260 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock valued at $10,179,099,000 after purchasing an additional 4,190,487 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting AbbVie

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 research analysts have issued reports on ABBV shares. Weiss Ratings reiterated a "hold (c)" rating on shares of AbbVie in a research report on Monday, June 8th. BMO Capital Markets restated an "outperform" rating on shares of AbbVie in a research report on Monday, March 9th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of AbbVie in a report on Tuesday, June 23rd. Wells Fargo & Company set a $260.00 target price on shares of AbbVie in a research report on Monday, June 22nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $298.00 target price on shares of AbbVie in a research note on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $253.81.

AbbVie Price Performance

Shares of NYSE ABBV opened at $260.88 on Friday. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64. The firm's 50 day simple moving average is $218.98 and its two-hundred day simple moving average is $220.02. The stock has a market capitalization of $460.92 billion, a P/E ratio of 128.51, a PEG ratio of 0.82 and a beta of 0.30.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly 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 firm had revenue of $15 billion for 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 business's revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 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.

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