Leonteq Securities AG Has $767,000 Holdings in AbbVie Inc. $ABBV

Leonteq Securities AG grew its holdings in AbbVie Inc. (NYSE:ABBV) by 142.5% during the first quarter, Holdings Channel.com reports. The firm owned 3,528 shares of the company’s stock after acquiring an additional 2,073 shares during the period. Leonteq Securities AG’s holdings in AbbVie were worth $767,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in AbbVie in the 4th quarter valued at about $5,865,055,000. Wellington Management Group LLP lifted its position in shares of AbbVie by 457.4% during the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after purchasing an additional 8,646,424 shares in the last quarter. Capital World Investors grew its stake in shares of AbbVie by 106.3% during the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after purchasing an additional 6,736,161 shares during the last quarter. Cardano Risk Management B.V. increased its holdings in shares of AbbVie by 914.6% in the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock valued at $1,244,112,000 after purchasing an additional 4,908,260 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after purchasing an additional 4,190,487 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.1%

NYSE:ABBV opened at $260.88 on Friday. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64. The stock has a 50-day moving average price of $220.19 and a two-hundred day moving average price of $220.30. The stock has a market cap of $460.92 billion, a price-to-earnings ratio of 128.51, a PEG ratio of 0.86 and a beta of 0.30.

AbbVie (NYSE:ABBV) last announced its quarterly 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. The firm 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%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 14.28 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie’s payout ratio is currently 340.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ABBV shares. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research report on Tuesday, June 23rd. William Blair reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $298.00 target price on shares of AbbVie in a research note on Tuesday, June 23rd. Wells Fargo & Company set a $260.00 price target on shares of AbbVie in a research note on Monday, June 22nd. Finally, Evercore set a $235.00 price objective on shares of AbbVie in a report on Friday, May 15th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued 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 $253.81.

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.