Elevated Capital Advisors LLC Has $1.38 Million Stock Holdings in AbbVie Inc. $ABBV

Elevated Capital Advisors LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 33.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,335 shares of the company’s stock after selling 3,139 shares during the period. Elevated Capital Advisors LLC’s holdings in AbbVie were worth $1,378,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares during the last quarter. State Street Corp raised its holdings in AbbVie by 1.4% during the 4th quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after purchasing an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC raised its holdings in AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the last quarter. Bank of America Corp DE lifted its position in AbbVie by 1.4% during the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after purchasing an additional 356,394 shares during the period. Finally, Norges Bank acquired a new position in AbbVie during the 4th quarter valued at about $5,865,055,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several analyst reports. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 5th. Cantor Fitzgerald increased their price objective on shares of AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a report on Monday. Evercore set a $235.00 price objective on shares of AbbVie in a research note on Friday, May 15th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Finally, DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. 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’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.19.

AbbVie Price Performance

Shares of ABBV stock opened at $249.98 on Friday. The stock has a market cap of $441.67 billion, a PE ratio of 123.14, a price-to-earnings-growth ratio of 0.83 and a beta of 0.30. The stock has a 50-day moving average of $224.54 and a 200-day moving average of $221.06. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 EPS. As a group, research analysts anticipate that AbbVie Inc. will post 14.25 earnings per share for the current year.

AbbVie Dividend Announcement

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 given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 340.89%.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: JPMorgan raised its price target on AbbVie to $280 from $260 and kept an overweight rating, signaling confidence in further upside. Benzinga
• Positive Sentiment: The European Commission approved AbbVie’s Tepkinly-based combination for relapsed or refractory follicular lymphoma, expanding the company’s oncology footprint and potentially supporting future sales growth. Pharmaceutical Technology
• Positive Sentiment: AbbVie also completed a first-in-human ABBV-277 trial, and early safety data could matter for its pipeline if the program continues to show promise. TipRanks
• Neutral Sentiment: West Pharmaceutical completed the SmartDose 3.5mL sale to AbbVie, a transaction that helps West refocus on its core business but is not likely to be a major direct driver for AbbVie’s stock. Zacks
• Neutral Sentiment: Market commentary on cystic fibrosis drug development highlighted AbbVie’s presence in a growing orphan-drug category, but the article was broad industry context rather than a company-specific catalyst. Yahoo Finance
• Negative Sentiment: Despite the positive headlines, AbbVie’s shares ended the session lower, suggesting investors may be taking profits or waiting for the upcoming earnings report and clearer pipeline results. Zacks

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.