Acumen Wealth Advisors LLC Has $918,000 Holdings in AbbVie Inc. $ABBV

Acumen Wealth Advisors LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 270.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,221 shares of the company’s stock after purchasing an additional 3,081 shares during the period. Acumen Wealth Advisors LLC’s holdings in AbbVie were worth $918,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. First Trust Advisors LP lifted its stake 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 valued at $330,582,000 after purchasing an additional 183,488 shares during the last quarter. Fortis Capital Management LLC lifted its position in shares of AbbVie by 5.6% in the first quarter. Fortis Capital Management LLC now owns 7,180 shares of the company’s stock worth $1,561,000 after buying an additional 380 shares during the last quarter. CacheTech Inc. lifted its position in shares of AbbVie by 7.0% in the first quarter. CacheTech Inc. now owns 2,965 shares of the company’s stock worth $645,000 after buying an additional 195 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of AbbVie during the 1st quarter worth about $18,896,000. Finally, Bellwether Advisors LLC boosted its stake in shares of AbbVie by 39.1% during the 1st quarter. Bellwether Advisors LLC now owns 31,607 shares of the company’s stock worth $6,874,000 after acquiring an additional 8,890 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s stock has been outperforming the broader market, with recent trading strength reinforcing investor confidence in the name. AbbVie (ABBV) Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: Analysts at Erste Group Bank reportedly raised earnings estimates for AbbVie, which can support the shares if investors expect stronger profit growth ahead. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Positive Sentiment: AbbVie said its ABBV-8736 injection study showed “quiet but meaningful” pipeline progress, adding another sign that its drug development efforts are advancing. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: A recent bullish article argued AbbVie looks like a strong buy-and-hold candidate, reflecting generally constructive sentiment around the stock. 3 Reasons to Buy AbbVie Stock Like There’s No Tomorrow
• Neutral Sentiment: A separate article discussed broader biotech and healthcare market trends, but it does not appear to have a direct company-specific impact on AbbVie. Biotech IPOs Surge 55% as AI Listings Lose Momentum
• Neutral Sentiment: Another article questioned whether AbbVie is leaving eye care, but the available headline alone does not indicate a clear financial impact. BLOG: Exit stage left: Is AbbVie leaving eye care?
• Neutral Sentiment: Coverage of AbbVie’s $10.9 billion Apogee acquisition focused on potential dividend effects, but the headline suggests investors are mainly evaluating the deal rather than reacting to a fresh negative catalyst. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?

AbbVie Stock Up 1.1%

ABBV opened at $256.18 on Wednesday. The stock’s 50 day moving average price is $231.78 and its two-hundred day moving average price is $222.23. The firm has a market capitalization of $452.62 billion, a P/E ratio of 126.20, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30. AbbVie Inc. has a 12-month low of $184.90 and a 12-month high of $261.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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. The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 earnings per share. As a group, analysts anticipate that AbbVie Inc. will post 14.18 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie’s dividend payout ratio is currently 340.89%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABBV shares. Wells Fargo & Company raised their price objective on AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Morgan Stanley upped their target price on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada increased their price target on AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Evercore set a $235.00 price objective on shares of AbbVie in a research note on Friday, May 15th. Finally, Guggenheim raised their target price on shares of AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $267.67.

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.