Signal Advisors Wealth LLC Raises Holdings in AbbVie Inc. $ABBV

Signal Advisors Wealth LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 101.5% during the first quarter, Holdings Channel.com reports. The firm owned 11,748 shares of the company’s stock after purchasing an additional 5,918 shares during the quarter. Signal Advisors Wealth LLC’s holdings in AbbVie were worth $2,555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Jackson Hole Trust raised its holdings in AbbVie by 0.6% in the fourth quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock valued at $1,648,000 after acquiring an additional 44 shares in the last quarter. Eclectic Associates Inc. ADV grew its holdings in AbbVie by 0.8% during the 4th 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 in the last quarter. Imprint Wealth LLC increased its position in shares of AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Hardin Capital Partners LLC raised its holdings in shares of AbbVie by 1.4% in the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after purchasing an additional 46 shares in the last quarter. Finally, Dogwood Wealth Management LLC lifted its position in shares of AbbVie by 10.8% during the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock worth $108,000 after purchasing an additional 46 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie agreed to buy Apogee Therapeutics for about $10.9 billion in cash, a move that adds late-stage candidates for atopic dermatitis and asthma and is being viewed as a strategic boost to AbbVie’s immunology franchise. Reuters: AbbVie strikes $10.9 billion deal for Apogee Therapeutics
• Positive Sentiment: Analysts said the Apogee deal could pay off over the long term despite some near-term dilution, since it deepens AbbVie’s immunology pipeline and supports growth beyond Humira. Benzinga: AbbVie’s Costly Apogee Acquisition Has Long-Term Upside: Analyst
• Positive Sentiment: AbbVie also secured European Commission approval for SKYRIZI in pediatric plaque psoriasis, expanding the drug’s addressable market and reinforcing momentum behind one of the company’s key growth products. Yahoo Finance: AbbVie Announces European Commission Approval of SKYRIZI
• Positive Sentiment: The European Commission also approved MAVIRET for acute hepatitis C infection, giving AbbVie a broader EU label for the antiviral and potentially supporting incremental international sales. PR Newswire: AbbVie Announces European Commission Approval of MAVIRET
• Positive Sentiment: Piper Sandler reaffirmed an overweight rating and lifted its price target to $298, signaling continued Wall Street confidence in AbbVie’s growth outlook. Benzinga reference

Analyst Ratings Changes

Several research firms recently commented on ABBV. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. William Blair reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Canaccord Genuity Group boosted their target price on AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley upped their price target on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $253.81.

AbbVie Stock Performance

Shares of ABBV stock opened at $235.04 on Wednesday. The stock’s 50-day moving average is $213.07 and its two-hundred day moving average is $218.79. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81. The firm has a market cap of $415.27 billion, a price-to-earnings ratio of 115.78, a PEG ratio of 0.70 and a beta of 0.32.

AbbVie (NYSE:ABBV) last posted its 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. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.46 EPS. As a group, research analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio is presently 340.89%.

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.