AbbVie Inc.

🇺🇸New York Stock Exchange
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AbbVie Inc. stock analysis ABBV overview
Bullish +65

AbbVie Inc. $ABBV Position Increased by Apella Capital LLC

📈 Apella Capital LLC increased its AbbVie stake by 97.9% in Q1, adding 10,041 shares for a total holding of 20,298 shares valued at $4.23 million.

📊 AbbVie reported Q1 revenue of $15 billion, beating estimates of $14.72 billion, with EPS of $2.65 versus an expected $2.59.

📈 Revenue grew 12.4% year-over-year, and analysts maintain a consensus price target of $253.81 for the stock.

💰 The company declared a quarterly dividend of $1.73 per share with an annualized yield of 2.8% payable on August 14th.

🏆 DZ Bank upgraded AbbVie to 'strong-buy' and Bank of America upgraded it to 'buy' with a $234 price objective.

📉 Morgan Stanley raised its target price from $270.00 to $278.00 while reaffirming an 'overweight' rating.

🏛️ Institutional ownership stands at 70.23%, with multiple wealth management firms increasing their positions in Q1.

Bullish Signals
  • AbbVie beat quarterly earnings estimates with $2.65 EPS compared to the consensus of $2.59.
  • Revenue reached $15 billion, exceeding analyst expectations of $14.72 billion.
  • The company achieved a 12.4% year-over-year revenue increase.
  • DZ Bank upgraded the stock rating from 'hold' to 'strong-buy'.
  • Bank of America upgraded the rating to 'buy' and set a $234 price objective.
  • Morgan Stanley increased its target price to $278.00.
  • Apella Capital LLC significantly boosted its position by 97.9% in Q1.
  • Multiple institutional investors including Thoma Capital and Consilium Wealth Advisory increased their stakes.
Full Analysis
Apella Capital LLC significantly increased its stake in AbbVie Inc. (NYSE: ABBV) by 97.9% in the first quarter, purchasing an additional 10,041 shares to hold a total of 20,298 shares valued at $4.23 million. Several other institutional investors, including Thoma Capital Management LLC and Consilium Wealth Advisory LLC, also boosted their positions during the same period, while Focused Wealth Management Inc. and Centennial Wealth Advisory LLC increased holdings by 9.3% and 6.5% respectively. AbbVie reported strong quarterly financial results ending April 29th, with revenue of $15 billion that beat analyst estimates of $14.72 billion. The company achieved an earnings per share (EPS) of $2.65, surpassing the consensus estimate of $2.59, representing a year-over-year revenue increase of 12.4%. Analysts currently project an average EPS of $14.29 for the current fiscal year. The company recently announced a quarterly dividend of $1.73 per share, payable on August 14th to stockholders of record as of July 15th, resulting in a 2.8% dividend yield. Major financial institutions have upgraded their ratings on AbbVie shares, including DZ Bank moving to a 'strong-buy' and Bank of America upgrading to a 'buy' with a $234 price objective, alongside Morgan Stanley raising its target price to $278.