AbbVie Inc. $ABBV Shares Bought by Opal Capital LLC

Opal Capital LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 19.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,153 shares of the company’s stock after purchasing an additional 6,759 shares during the quarter. AbbVie comprises 1.6% of Opal Capital LLC’s portfolio, making the stock its 13th largest position. Opal Capital LLC’s holdings in AbbVie were worth $8,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of AbbVie during the fourth quarter valued at $5,865,055,000. Wellington Management Group LLP increased its holdings in shares of AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after acquiring an additional 8,646,424 shares during the period. Capital World Investors lifted its position in AbbVie by 106.3% in the 4th quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after purchasing an additional 6,736,161 shares during the last quarter. Cardano Risk Management B.V. lifted its position in AbbVie by 914.6% in the 4th quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock valued at $1,244,112,000 after purchasing an additional 4,908,260 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in AbbVie by 10.4% during the 4th 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 during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Skyrizi and Rinvoq remain key growth drivers. The two immunology drugs are reportedly growing at more than 20% and have increasingly offset Humira’s loss of exclusivity, strengthening confidence in AbbVie’s long-term revenue outlook. Should You Buy, Hold or Sell ABBV Stock Ahead of Q2 Earnings?
• Positive Sentiment: Income and guidance support the investment case. Coverage highlights AbbVie’s roughly 2.62% dividend yield and raised earnings guidance, presenting ABBV as a combination of income, growth and comparatively low volatility ahead of the quarterly report. 3 Major Reasons for Investors to Buy AbbVie Stock Before July 31st
• Positive Sentiment: Pipeline and real-world data provide additional support. AbbVie completed a real-world RINVOQ study in psoriatic arthritis, while early safety data from the ABBV-722 Phase 1 program offer incremental pipeline visibility, though neither update is yet a major revenue catalyst. AbbVie Wraps Up Real-World RINVOQ Study in Psoriatic Arthritis
• Neutral Sentiment: Former AbbVie executive Michael Severino was named Sarepta Therapeutics’ CEO. The appointment is not expected to materially affect AbbVie’s operations, but it highlights the departure of a longtime AbbVie leader from the broader biopharmaceutical sector. Sarepta Names Former AbbVie President as CEO
• Negative Sentiment: Near-term “sell the news” risk remains. AbbVie’s recent rally has raised the possibility of profit-taking if second-quarter results, guidance or drug sales fail to exceed elevated expectations, despite the favorable long-term view. Should You Buy AbbVie Stock Hand Over Fist Before July 31?

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America raised their price target on shares of AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Canaccord Genuity Group raised their target price on AbbVie from $273.00 to $282.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $298.00 price target on shares of AbbVie in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $268.10.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $263.49 on Wednesday. AbbVie Inc. has a 12 month low of $187.62 and a 12 month high of $266.92. The stock has a market cap of $465.53 billion, a price-to-earnings ratio of 129.80, a PEG ratio of 0.85 and a beta of 0.30. The stock’s 50 day moving average price is $236.52 and its 200 day moving average price is $223.32.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share 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 firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the prior year, the firm posted $2.46 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 14.16 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed 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 is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.6%. AbbVie’s dividend payout ratio is 340.89%.

About AbbVie

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.