AbbVie Inc.

New York Stock Exchange
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Bullish +65

BI Asset Management Fondsmaeglerselskab A S Raises Stock Holdings in ...

📈 BI Asset Management increased its AbbVie stake by 57.0% in Q1, adding 163,535 shares to a total holding of 450,556 shares.

💰 The firm's new position is valued at $97.8 million and represents 1.0% of its total portfolio assets.

📊 Other institutions including Chelsea Counsel Co., Litman Gregory Wealth Management, and Texas Capital Bancshares initiated new positions in Q3 or Q4.

💵 AbbVie declared a quarterly dividend of $1.73 per share with an ex-dividend date of July 15th.

📉 The stock trades at a market cap of $382.74 billion with a PEG ratio of 0.66 and a beta of 0.32.

🎯 Analysts maintain bullish sentiment, with Canaccord Genuity raising its price target to $265.00 and DZ Bank upgrading to 'strong-buy'.

📈 MarketBeat consensus rating is 'Moderate Buy' with an average 12-month price target of $253.43.

🏥 AbbVie operates in immunology, oncology, neuroscience, virology, and women's health therapeutic areas.

📅 The company has a 52-week trading range between $181.73 and $244.81.

Bullish Signals
  • Major institutional investor BI Asset Management increased its holdings by 57.0% in Q1, signaling continued confidence in the stock.
  • Multiple new institutional buyers entered positions in Q3 and Q4, including Chelsea Counsel Co., Litman Gregory Wealth Management, Westend Capital Management, Imprint Wealth, and Texas Capital Bancshares.
  • Analyst consensus is positive with a 'Moderate Buy' rating and an average price target of $253.43, which is above the recent trading price.
  • Canaccord Genuity increased its price objective to $265.00 and maintained a 'buy' rating on the stock.
  • DZ Bank upgraded AbbVie from 'hold' to 'strong-buy', adding to the bullish analyst sentiment.
  • William Blair and BMO Capital Markets reiterated their 'outperform' ratings, indicating sustained institutional support.
Full Analysis
BI Asset Management Fondsmaeglerselskab A S significantly increased its stake in AbbVie Inc. (NYSE:ABBV) by 57.0% during the first quarter, purchasing an additional 163,535 shares to hold a total of 450,556 shares valued at $97.8 million. This position represents approximately 1.0% of the firm's portfolio and ranks as its 18th largest holding. Several other institutional investors, including Chelsea Counsel Co., Litman Gregory Wealth Management LLC, Westend Capital Management LLC, Imprint Wealth LLC, and Texas Capital Bancshares Inc TX, also established or increased their positions in the stock during the third and fourth quarters. AbbVie shares opened at $216.63 with a market capitalization of $382.74 billion. The company recently announced a quarterly dividend of $1.73 per share, payable on August 14th to shareholders of record as of July 15th. This dividend represents an annualized yield of 3.2% and a payout ratio of 340.89%. Technical indicators show the stock trading above its 50-day moving average but below its 200-day moving average, with a PEG ratio of 0.66. Analyst sentiment remains positive with multiple firms maintaining or upgrading their ratings on AbbVie. William Blair and BMO Capital Markets reiterated 'outperform' ratings, while Canaccord Genuity raised its price objective to $265.00 with a 'buy' rating. DZ Bank upgraded the stock to 'strong-buy,' contributing to a consensus 'Moderate Buy' rating from MarketBeat with an average target price of $253.43. The company continues to focus on therapies for complex medical conditions across immunology, oncology, neuroscience, virology, and women's health.