Cetera Investment Advisers Purchases 15,857 Shares of AbbVie Inc. $ABBV

Cetera Investment Advisers lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 965,429 shares of the company’s stock after acquiring an additional 15,857 shares during the quarter. Cetera Investment Advisers’ holdings in AbbVie were worth $209,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ranch Capital Advisors Inc. increased its position in shares of AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after purchasing an additional 4,017 shares in the last quarter. Waycross Partners LLC boosted its position in shares of AbbVie by 2.9% in the 4th quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock worth $41,694,000 after purchasing an additional 5,063 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of AbbVie by 3.4% in the 4th quarter. Calamos Advisors LLC now owns 466,290 shares of the company’s stock worth $106,543,000 after purchasing an additional 15,458 shares in the last quarter. Savvy Advisors Inc. grew its stake in AbbVie by 22.2% during the 4th quarter. Savvy Advisors Inc. now owns 36,568 shares of the company’s stock worth $8,355,000 after buying an additional 6,646 shares during the last quarter. Finally, Bingham Private Wealth LLC purchased a new position in AbbVie during the 4th quarter worth $1,147,000. 70.23% of the stock is currently owned by institutional investors.

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 firm has a market cap of $448.32 billion, a price-to-earnings ratio of 125.00, a price-to-earnings-growth ratio of 0.85 and a beta of 0.30. The company has a 50 day moving average price of $232.69 and a 200-day moving average price of $222.41. AbbVie Inc. has a 1-year low of $186.77 and a 1-year high of $261.64.

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

AbbVie Dividend Announcement

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 dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio is 340.89%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a research report on Tuesday, June 23rd. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. Citigroup raised their price target on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Royal Bank Of Canada lifted their price objective on shares of AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Finally, DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $268.10.

AbbVie Company 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.