Baader Bank Aktiengesellschaft Acquires 6,263 Shares of AbbVie Inc. $ABBV

Baader Bank Aktiengesellschaft grew its holdings in AbbVie Inc. (NYSE:ABBV) by 560.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,380 shares of the company’s stock after buying an additional 6,263 shares during the period. Baader Bank Aktiengesellschaft’s holdings in AbbVie were worth $1,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in AbbVie by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after acquiring an additional 3,032,438 shares during the last quarter. State Street Corp boosted its holdings in shares of AbbVie by 1.4% during the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after acquiring an additional 1,119,274 shares during the period. Geode Capital Management LLC grew its position in shares of AbbVie by 10.4% in the fourth 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 last quarter. Bank of America Corp DE increased its stake in shares of AbbVie by 1.4% during the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after purchasing an additional 356,394 shares during the period. Finally, Norges Bank acquired a new stake in AbbVie during the 4th quarter worth approximately $5,865,055,000. 70.23% of the stock is currently owned by institutional investors.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reported quiet but meaningful pipeline progress in its ABBV-8736 injection study, which could support longer-term growth expectations if the program continues to advance. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: Some coverage says AbbVie should be able to preserve its dividend even after the $10.9 billion Apogee acquisition because the deal is being funded with debt rather than cash, reducing immediate pressure on reserves. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?
• Neutral Sentiment: Broker coverage and article commentary pointed to higher earnings estimates for AbbVie, but also noted the stock may be stretched versus its growth outlook, leaving the market split on whether upside is already priced in. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Neutral Sentiment: Broader pharma commentary placed AbbVie alongside other large drugmakers and suggested it has outperformed the S&P 500, but also described its valuation as relatively elevated compared with growth expectations. 3 Biggest Pharma Giants: Buy, Sell or Hold?
• Negative Sentiment: Some market commentary around AbbVie’s eye-care exposure raised questions about whether the company is pulling back from that segment, which could signal strategic uncertainty for part of its portfolio. BLOG: Exit stage left: Is AbbVie leaving eye care?

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent research reports. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. raised their price target on shares of AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 5th. BMO Capital Markets boosted their price objective on shares of AbbVie from $258.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada increased their target price on shares of AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $267.67.

AbbVie Trading Down 0.4%

Shares of AbbVie stock opened at $253.37 on Tuesday. The firm’s 50 day moving average is $230.81 and its 200 day moving average is $222.04. The firm has a market capitalization of $447.66 billion, a PE ratio of 124.81, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 14.18 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis 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 presently 340.89%.

AbbVie Company 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.