Madison Asset Management LLC Lowers Stake in AbbVie Inc. $ABBV

Key Points

• Madison Asset Management cut its AbbVie stake by 7.7% in the first quarter, selling 5,052 shares and leaving it with 60,369 shares valued at about $13.1 million.
• Wall Street sentiment is constructive, with analysts raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target price of $267.67.
• AbbVie reported solid quarterly results and a dividend, beating EPS and revenue estimates, and it declared a $1.73 quarterly dividend to be paid on August 14, implying a 2.7% annual yield.

Madison Asset Management LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,369 shares of the company's stock after selling 5,052 shares during the period. Madison Asset Management LLC's holdings in AbbVie were worth $13,130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of Jackson Hole Trust increased its position in AbbVie by 0.6% during the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company's stock valued at $1,648,000 after buying an additional 44 shares in the last quarter. Eclectic Associates Inc. ADV boosted its holdings in AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company's stock worth $1,337,000 after acquiring an additional 45 shares in the last quarter. Imprint Wealth LLC boosted its holdings in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Hardin Capital Partners LLC grew its stake in shares of AbbVie by 1.4% in the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company's stock worth $759,000 after acquiring an additional 46 shares during the last quarter. Finally, Dogwood Wealth Management LLC increased its holdings in shares of AbbVie by 10.8% during the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company's stock valued at $108,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABBV. Royal Bank Of Canada lifted their price target on AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Wells Fargo & Company lifted their target price on shares of AbbVie from $260.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Evercore set a $235.00 target price on shares of AbbVie in a research note on Friday, May 15th. UBS Group increased their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Finally, DZ Bank raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $267.67.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $256.18 on Wednesday. The firm has a market cap of $452.62 billion, a price-to-earnings ratio of 126.20, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30. The business has a 50-day simple moving average of $231.78 and a two-hundred day simple moving average of $222.23. AbbVie Inc. has a fifty-two week low of $184.90 and a fifty-two week high of $261.64.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter last year, the firm posted $2.46 EPS. The business's quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 14.18 earnings per share for the current year.

AbbVie Announces Dividend

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 $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie's payout ratio is 340.89%.

Key Stories Impacting 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?

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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