Mcguire Capital Advisors Inc. Purchases Shares of 4,974 AbbVie Inc. $ABBV

Key Points

• Mcguire Capital Advisors opened a new position in AbbVie during the fourth quarter, buying 4,974 shares worth about $1.136 million. AbbVie now makes up roughly 0.7% of the firm’s portfolio.
• AbbVie recently declared a quarterly dividend of $1.73 per share, underscoring its strong shareholder-return profile. The dividend implies a 3.2% yield and will be paid on August 14.
• The company continues to build its growth pipeline with SKINVIVE approval, encouraging CLL trial results, and new Phase 3 venetoclax-based data, though a potential legal setback remains an overhang as HHS seeks dismissal of its drug-discount lawsuit.

Mcguire Capital Advisors Inc. acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,974 shares of the company's stock, valued at approximately $1,136,000. AbbVie comprises approximately 0.7% of Mcguire Capital Advisors Inc.'s portfolio, making the stock its 29th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Chelsea Counsel Co. bought a new stake in shares of AbbVie in the 3rd quarter worth about $26,000. Litman Gregory Wealth Management LLC bought a new stake in AbbVie during the fourth quarter worth approximately $28,000. Imprint Wealth LLC increased its stake in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after acquiring an additional 45 shares during the last quarter. Westend Capital Management LLC purchased a new stake in AbbVie during the fourth quarter valued at approximately $29,000. Finally, IFC & Insurance Marketing Inc. purchased a new stake in AbbVie during the fourth quarter valued at approximately $31,000. 70.23% of the stock is currently owned by institutional investors.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Evercore set a $235.00 target price on AbbVie in a report on Friday, May 15th. Guggenheim restated a "buy" rating and set a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. BMO Capital Markets reaffirmed an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. Morgan Stanley boosted their price objective on AbbVie from $270.00 to $278.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, Bank of America upgraded AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 target price on the stock in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

AbbVie Trading Down 2.1%

Shares of AbbVie stock opened at $216.63 on Friday. The stock's fifty day moving average price is $212.08 and its 200-day moving average price is $218.78. The firm has a market cap of $382.74 billion, a P/E ratio of 106.71, a P/E/G ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm's quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. Analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 340.89%.

AbbVie Company 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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