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

Mcguire Capital Advisors Inc. bought a new position in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 4,974 shares of the company’s stock, valued at approximately $1,136,000. AbbVie accounts for approximately 0.7% of Mcguire Capital Advisors Inc.’s portfolio, making the stock its 29th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in shares of AbbVie by 5.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after purchasing an additional 789 shares in the last quarter. Ieq Capital LLC boosted its position in shares of AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after buying an additional 612,702 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several recent analyst reports. Royal Bank Of Canada started coverage on AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Morgan Stanley boosted their price target on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

More 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

AbbVie Price Performance

Shares of AbbVie stock opened at $216.63 on Friday. The stock has a market cap of $382.74 billion, a PE ratio of 106.71, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32. The firm has a fifty day moving average price of $212.08 and a 200 day moving average price of $218.78. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results 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. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. As a group, equities analysts expect that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Dividend Announcement

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 paid a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.2%. AbbVie’s dividend payout ratio 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.