Monetary Solutions Ltd Makes New $1.76 Million Investment in AbbVie Inc. $ABBV

Monetary Solutions Ltd acquired a new position in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 7,687 shares of the company’s stock, valued at approximately $1,756,000. AbbVie accounts for approximately 1.7% of Monetary Solutions Ltd’s investment portfolio, making the stock its 14th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Jackson Hole Trust increased its stake in AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock worth $1,648,000 after buying an additional 44 shares in the last quarter. Eclectic Associates Inc. ADV boosted its stake in shares of AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock worth $1,337,000 after acquiring an additional 45 shares during the period. 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 worth $29,000 after acquiring an additional 45 shares during the period. Hardin Capital Partners LLC grew its position in shares of AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after purchasing an additional 46 shares in the last quarter. Finally, Dogwood Wealth Management LLC grew its position in shares of AbbVie by 10.8% during the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock worth $108,000 after purchasing an additional 46 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie News Roundup

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

NYSE:ABBV opened at $216.63 on Friday. The company has a market cap of $382.74 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81. The stock’s 50 day simple moving average is $212.08 and its two-hundred day simple moving average is $218.78.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating 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 company earned $2.46 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Announces Dividend

The firm 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. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 3.2%. AbbVie’s dividend payout ratio (DPR) is 340.89%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price target on shares of AbbVie in a report on Thursday, April 30th. Guggenheim reiterated a “buy” rating and set a $249.00 price objective on shares of AbbVie in a research report on Friday, May 1st. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Royal Bank Of Canada began coverage on shares of AbbVie in a research note on Tuesday, February 24th. They set an “outperform” rating and a $260.00 target price for the company. Finally, Barclays started coverage on shares of AbbVie in a report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.43.

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.