4,373 Shares in AbbVie Inc. $ABBV Acquired by Ascension Capital Advisors Inc.

Ascension Capital Advisors Inc. bought a new position in AbbVie Inc. (NYSE:ABBV) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,373 shares of the company’s stock, valued at approximately $951,000. AbbVie comprises about 0.3% of Ascension Capital Advisors Inc.’s holdings, making the stock its 29th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Litman Gregory Wealth Management LLC purchased a new position in AbbVie in the fourth quarter worth about $28,000. Westend Capital Management LLC bought a new position in AbbVie in the fourth quarter worth approximately $29,000. Imprint Wealth LLC boosted its stake in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after acquiring an additional 45 shares during the last quarter. Legacy Wealth Managment LLC ID boosted its stake in shares of AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares during the last quarter. 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 institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Bank of America raised their price target on AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a report on Friday, July 10th. Cantor Fitzgerald boosted their price target on AbbVie from $240.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. JPMorgan Chase & Co. upped their price target on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $268.10.

Key AbbVie News

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 Price Performance

NYSE ABBV opened at $253.75 on Thursday. The stock has a market capitalization of $448.32 billion, a PE ratio of 125.00, a P/E/G ratio of 0.85 and a beta of 0.30. AbbVie Inc. has a 1-year low of $186.77 and a 1-year high of $261.64. The business has a 50 day simple moving average of $232.69 and a two-hundred day simple moving average of $222.41.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same period last year, the firm posted $2.46 earnings per share. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post 14.18 EPS for the current fiscal year.

AbbVie Announces Dividend

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

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.