AbbVie Inc. $ABBV Shares Bought by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 82.3% during the first quarter, Holdings Channel reports. The institutional investor owned 97,716 shares of the company’s stock after buying an additional 44,120 shares during the quarter. AbbVie makes up approximately 1.2% of Financiere des Professionnels Fonds d investissement inc.’s investment portfolio, making the stock its 18th largest position. Financiere des Professionnels Fonds d investissement inc.’s holdings in AbbVie were worth $21,252,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Bessemer Group Inc. boosted its stake in AbbVie by 1.4% during the first quarter. Bessemer Group Inc. now owns 3,157,936 shares of the company’s stock valued at $686,821,000 after buying an additional 42,695 shares in the last quarter. Avalon Trust Co raised its position in AbbVie by 24.0% in the first quarter. Avalon Trust Co now owns 4,066 shares of the company’s stock worth $884,000 after acquiring an additional 788 shares in the last quarter. Gerald Baker Financial Group LLC acquired a new stake in AbbVie in the 1st quarter valued at about $2,044,000. Allspring Global Investments Holdings LLC lifted its holdings in AbbVie by 0.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 441,647 shares of the company’s stock valued at $94,945,000 after acquiring an additional 2,169 shares during the last quarter. Finally, Oder Investment Management LLC boosted its position in shares of AbbVie by 2.0% during the 1st quarter. Oder Investment Management LLC now owns 3,634 shares of the company’s stock valued at $790,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ABBV shares. UBS Group lifted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday. Citigroup increased their target price on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday. Cantor Fitzgerald raised their target price on shares of AbbVie from $240.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Bank of America lifted their price target on shares of AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Guggenheim upped their price target on AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $267.67.

More AbbVie News

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

AbbVie Price Performance

Shares of ABBV opened at $254.29 on Friday. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64. The company has a 50-day moving average of $228.73 and a two-hundred day moving average of $221.71. The stock has a market cap of $449.28 billion, a price-to-earnings ratio of 125.27, a PEG ratio of 0.81 and a beta of 0.30.

AbbVie (NYSE:ABBV) last released 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. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 earnings per share. Analysts anticipate that AbbVie Inc. will post 14.18 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is presently 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.