Osprey Private Wealth LLC Purchases 3,360 Shares of AbbVie Inc. $ABBV

Osprey Private Wealth LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,160 shares of the company’s stock after acquiring an additional 3,360 shares during the quarter. AbbVie makes up about 3.7% of Osprey Private Wealth LLC’s holdings, making the stock its 5th biggest holding. Osprey Private Wealth LLC’s holdings in AbbVie were worth $12,867,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. raised its stake 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 buying an additional 3,032,438 shares in the last quarter. State Street Corp boosted its position in shares of 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 acquiring an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares during the last quarter. Bank of America Corp DE raised its position in shares of AbbVie by 1.4% during the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after acquiring an additional 356,394 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth about $5,865,055,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ABBV shares. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. JPMorgan Chase & Co. boosted their price objective on shares of AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank Of Canada upped their target price on shares of AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a report on Friday. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. Finally, Guggenheim boosted their price target on shares of AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.81.

AbbVie Stock Down 0.8%

NYSE:ABBV traded down $1.91 during trading hours on Friday, reaching $248.00. 5,780,723 shares of the company’s stock were exchanged, compared to its average volume of 8,942,850. The firm has a market capitalization of $438.17 billion, a price-to-earnings ratio of 122.17, a P/E/G ratio of 0.81 and a beta of 0.30. The company has a 50-day moving average of $225.42 and a 200 day moving average of $221.25. AbbVie Inc. has a 1-year low of $184.63 and a 1-year high of $261.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS 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 company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the previous year, the business posted $2.46 earnings per share. AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 14.39 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.8%. AbbVie’s dividend payout ratio is currently 340.89%.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Bank of America raised AbbVie’s price target to $276 from $234 and reiterated a buy rating, signaling confidence in additional upside for the shares. Bank of America raises AbbVie price target
• Positive Sentiment: RBC Capital also increased its price target to $280 from $260 and kept an outperform rating, adding to the wave of analyst support. RBC raises AbbVie price target
• Positive Sentiment: JPMorgan likewise lifted its target to $280 from $260 and maintained an overweight rating, reinforcing a favorable near-term outlook for AbbVie. JPMorgan raises AbbVie price target
• Neutral Sentiment: Recent coverage comparing Johnson & Johnson and AbbVie highlighted how both pharma giants’ latest quarterly results are shaping income-investor preferences, but it did not point to a clear new catalyst for AbbVie. Johnson & Johnson vs AbbVie article
• Neutral Sentiment: AbbVie also appeared in an industry piece on the expanding cystic fibrosis market, which may be supportive of long-term therapeutic demand but is not an immediate stock-moving event. Cystic fibrosis market article
• Negative Sentiment: Despite the analyst upgrades, AbbVie was recently reported as having moved lower in trading, suggesting the stock is still contending with profit-taking or broader market pressure. AbbVie stock drops despite market gains
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a routine transaction that may support AbbVie’s drug-delivery capabilities but is unlikely to move the stock on its own. West Pharmaceutical SmartDose sale to AbbVie

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.