85,652 Shares in AbbVie Inc. $ABBV Purchased by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super acquired a new position in AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 85,652 shares of the company’s stock, valued at approximately $18,628,000.

A number of other institutional investors have also recently bought and sold shares of the business. Chelsea Counsel Co. bought a new position in shares of AbbVie during the third quarter worth approximately $26,000. Litman Gregory Wealth Management LLC bought a new stake in shares of AbbVie in the fourth quarter valued at approximately $28,000. Imprint Wealth LLC boosted its stake in shares of AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares during the period. Westend Capital Management LLC acquired a new stake in AbbVie during the fourth quarter worth approximately $29,000. Finally, IFC & Insurance Marketing Inc. acquired a new stake in AbbVie during the fourth quarter worth approximately $31,000. Institutional investors own 70.23% of the company’s stock.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s neuroscience business is expected to post solid Q2 growth, with key brands and Vyalev in focus ahead of earnings on July 31. Will AbbVie’s Neuroscience Franchise Deliver Another Strong Quarter?
• Positive Sentiment: Multiple analysts have recently raised price targets or kept a constructive view on ABBV, reinforcing confidence in the company’s post-Humira growth strategy and pipeline. AbbVie Inc. (NYSE:ABBV) Receives Average Recommendation of “Moderate Buy” from Brokerages
• Positive Sentiment: Investors are also responding to recent regulatory updates for RINVOQ in severe alopecia areata and a subcutaneous induction option for SKYRIZI in Crohn’s disease, which highlight additional growth drivers. AbbVie regulatory submissions update
• Positive Sentiment: AbbVie has also been the subject of upbeat technical and valuation-focused coverage, with commentary pointing to strong momentum and continued investor interest after a multi-year run. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: One article questioned whether AbbVie is fully valued after Tepkinly, but it did not signal a clear bearish catalyst. Is AbbVie (NYSE:ABBV) Fully Valued After Tepkinly?
• Neutral Sentiment: AbbVie’s stock has also drawn attention from traders and long-term holders as they wait for earnings and updates on its pipeline and guidance. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group lifted their price objective on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Monday. Guggenheim increased their target price on AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Piper Sandler restated an “overweight” rating and issued a $298.00 price target on shares of AbbVie in a research report on Tuesday, June 23rd. Finally, Wells Fargo & Company boosted their price target on AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Two 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 has an average rating of “Moderate Buy” and an average target price of $267.67.

AbbVie Price Performance

NYSE ABBV opened at $254.29 on Friday. The business has a fifty day moving average price of $228.73 and a two-hundred day moving average price of $221.71. The stock has a market capitalization of $449.28 billion, a PE ratio of 125.27, a PEG ratio of 0.81 and a beta of 0.30. AbbVie Inc. has a fifty-two week low of $184.63 and a fifty-two week high of $261.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS 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 company 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. AbbVie’s revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect 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. Stockholders of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie’s dividend payout ratio is 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.