AR Asset Management Inc. Acquires 2,266 Shares of AbbVie Inc. $ABBV

AR Asset Management Inc. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 45,226 shares of the company’s stock after purchasing an additional 2,266 shares during the period. AbbVie accounts for about 1.9% of AR Asset Management Inc.’s portfolio, making the stock its 14th largest position. AR Asset Management Inc.’s holdings in AbbVie were worth $9,836,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ABBV. NewEdge Wealth LLC lifted its stake in shares of AbbVie by 2.1% during the 1st quarter. NewEdge Wealth LLC now owns 406,062 shares of the company’s stock worth $88,314,000 after purchasing an additional 8,385 shares during the last quarter. Wiregrass Investment Management LLC grew its stake in AbbVie by 73.6% in the first quarter. Wiregrass Investment Management LLC now owns 5,094 shares of the company’s stock valued at $1,108,000 after purchasing an additional 2,159 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of AbbVie by 24.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 42,327 shares of the company’s stock valued at $9,206,000 after buying an additional 8,362 shares in the last quarter. Acumen Wealth Advisors LLC boosted its holdings in shares of AbbVie by 270.3% in the 1st quarter. Acumen Wealth Advisors LLC now owns 4,221 shares of the company’s stock valued at $918,000 after buying an additional 3,081 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of AbbVie by 13.7% in the 1st quarter. First Trust Advisors LP now owns 1,519,986 shares of the company’s stock worth $330,582,000 after buying an additional 183,488 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $253.75 on Thursday. The business has a fifty day moving average of $232.69 and a 200 day moving average of $222.41. AbbVie Inc. has a 1 year low of $186.77 and a 1 year high of $261.64. The firm has a market capitalization of $448.32 billion, a price-to-earnings ratio of 125.00, a price-to-earnings-growth ratio of 0.85 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share 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 business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 14.18 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is 340.89%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of analyst reports. Cantor Fitzgerald increased their target price on shares of AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Guggenheim lifted their price target on shares of AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Evercore set a $235.00 price target on AbbVie in a research report on Friday, May 15th. Wells Fargo & Company increased their price target on AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Finally, Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Two equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $268.10.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Canaccord Genuity raised its price target on AbbVie to $282 from $273 and reiterated a buy rating, signaling confidence in further upside for AbbVie Inc. (ABBV). Benzinga report
• Positive Sentiment: AbbVie’s aesthetics business got a boost after Allergan Aesthetics received European Commission approval for Boey, expanding the company’s portfolio in Europe and potentially supporting future revenue growth. Yahoo Finance article
• Neutral Sentiment: Several recent articles characterized AbbVie as a strong buy-and-hold name and noted that the stock has recently outperformed the broader market, reinforcing a generally constructive long-term view. Yahoo Finance article
• Negative Sentiment: Investors are watching AbbVie’s Q2 oncology revenue closely, with analysts warning that weakness in Imbruvica may outweigh gains from Venclexta and newer cancer treatments, which could pressure results. Yahoo Finance article

AbbVie 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.