LGT Fund Management Co Ltd. Boosts Position in AbbVie Inc. $ABBV

LGT Fund Management Co Ltd. raised its position in AbbVie Inc. (NYSE:ABBV) by 384.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,331 shares of the company’s stock after acquiring an additional 38,356 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in AbbVie were worth $10,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chelsea Counsel Co. bought a new position in AbbVie in the third quarter worth approximately $26,000. Litman Gregory Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $28,000. Imprint Wealth LLC grew its position in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Westend Capital Management LLC purchased a new stake in shares of AbbVie in the 4th quarter worth $29,000. Finally, IFC & Insurance Marketing Inc. bought a new position in AbbVie in the 4th quarter worth $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock traded down $1.91 during trading hours on Friday, hitting $248.00. The company’s stock had a trading volume of 5,780,723 shares, compared to its average volume of 8,942,850. The company has a market cap of $438.17 billion, a PE ratio of 122.17, a PEG ratio of 0.81 and a beta of 0.30. The business has a 50 day moving average price of $225.42 and a two-hundred day moving average price of $221.25. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter last year, the company earned $2.46 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 14.3 earnings per share 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 issued a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s payout ratio is 340.89%.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Canaccord Genuity Group raised their price objective on AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Guggenheim boosted their price objective on AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday. Evercore set a $235.00 target price on shares of AbbVie in a report on Friday, May 15th. Morgan Stanley lifted their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Royal Bank Of Canada upped their price target on shares of AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday. Two investment 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 company. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $262.81.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Bank of America raised AbbVie’s price target to $276 from $234 and reiterated a buy rating, signaling confidence in additional upside for the shares. Bank of America raises AbbVie price target
• Positive Sentiment: RBC Capital also increased its price target to $280 from $260 and kept an outperform rating, adding to the wave of analyst support. RBC raises AbbVie price target
• Positive Sentiment: JPMorgan likewise lifted its target to $280 from $260 and maintained an overweight rating, reinforcing a favorable near-term outlook for AbbVie. JPMorgan raises AbbVie price target
• Neutral Sentiment: Recent coverage comparing Johnson & Johnson and AbbVie highlighted how both pharma giants’ latest quarterly results are shaping income-investor preferences, but it did not point to a clear new catalyst for AbbVie. Johnson & Johnson vs AbbVie article
• Neutral Sentiment: AbbVie also appeared in an industry piece on the expanding cystic fibrosis market, which may be supportive of long-term therapeutic demand but is not an immediate stock-moving event. Cystic fibrosis market article
• Negative Sentiment: Despite the analyst upgrades, AbbVie was recently reported as having moved lower in trading, suggesting the stock is still contending with profit-taking or broader market pressure. AbbVie stock drops despite market gains
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a routine transaction that may support AbbVie’s drug-delivery capabilities but is unlikely to move the stock on its own. West Pharmaceutical SmartDose sale to AbbVie

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.