First Citizens Bank & Trust Co. Grows Stock Position in AbbVie Inc. $ABBV

First Citizens Bank & Trust Co. increased its stake in AbbVie Inc. (NYSE:ABBV) by 24.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,327 shares of the company’s stock after acquiring an additional 8,362 shares during the period. First Citizens Bank & Trust Co.’s holdings in AbbVie were worth $9,206,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ranch Capital Advisors Inc. raised its holdings in AbbVie by 37.0% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock valued at $3,238,000 after buying an additional 4,017 shares during the last quarter. Waycross Partners LLC boosted its position in AbbVie by 2.9% during the 4th quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock valued at $41,694,000 after buying an additional 5,063 shares during the period. Calamos Advisors LLC grew its holdings in 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 acquiring an additional 15,458 shares during the last quarter. Savvy Advisors Inc. increased its position in shares of AbbVie by 22.2% in the fourth quarter. Savvy Advisors Inc. now owns 36,568 shares of the company’s stock valued at $8,355,000 after acquiring an additional 6,646 shares during the period. Finally, Bingham Private Wealth LLC purchased a new position in shares of AbbVie in the fourth quarter valued at about $1,147,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.1%

Shares of ABBV opened at $256.18 on Wednesday. AbbVie Inc. has a 1-year low of $184.90 and a 1-year high of $261.64. The firm’s 50-day moving average price is $231.78 and its 200-day moving average price is $222.23. The firm has a market capitalization of $452.62 billion, a price-to-earnings ratio of 126.20, a PEG ratio of 0.84 and a beta of 0.30.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. AbbVie’s revenue was up 12.4% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 14.18 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie’s dividend payout ratio is 340.89%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup increased their target price on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Cantor Fitzgerald raised their target price on AbbVie from $240.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. UBS Group boosted their price target on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Evercore set a $235.00 price target on AbbVie in a research report on Friday, May 15th. Finally, Morgan Stanley increased their price objective on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Two investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $267.67.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s stock has been outperforming the broader market, with recent trading strength reinforcing investor confidence in the name. AbbVie (ABBV) Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: Analysts at Erste Group Bank reportedly raised earnings estimates for AbbVie, which can support the shares if investors expect stronger profit growth ahead. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Positive Sentiment: AbbVie said its ABBV-8736 injection study showed “quiet but meaningful” pipeline progress, adding another sign that its drug development efforts are advancing. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: A recent bullish article argued AbbVie looks like a strong buy-and-hold candidate, reflecting generally constructive sentiment around the stock. 3 Reasons to Buy AbbVie Stock Like There’s No Tomorrow
• Neutral Sentiment: A separate article discussed broader biotech and healthcare market trends, but it does not appear to have a direct company-specific impact on AbbVie. Biotech IPOs Surge 55% as AI Listings Lose Momentum
• Neutral Sentiment: Another article questioned whether AbbVie is leaving eye care, but the available headline alone does not indicate a clear financial impact. BLOG: Exit stage left: Is AbbVie leaving eye care?
• Neutral Sentiment: Coverage of AbbVie’s $10.9 billion Apogee acquisition focused on potential dividend effects, but the headline suggests investors are mainly evaluating the deal rather than reacting to a fresh negative catalyst. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?

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.