Alliancebernstein L.P. Grows Stock Position in AbbVie Inc. $ABBV

Alliancebernstein L.P. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 28.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,522,670 shares of the company’s stock after purchasing an additional 1,234,884 shares during the quarter. Alliancebernstein L.P.’s holdings in AbbVie were worth $1,025,118,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Seven Mile Advisory raised its holdings in shares of AbbVie by 8.8% in the 2nd quarter. Seven Mile Advisory now owns 3,282 shares of the company’s stock worth $609,000 after purchasing an additional 266 shares during the period. Peapack Gladstone Financial Corp increased its position in AbbVie by 9.9% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 222,910 shares of the company’s stock worth $41,377,000 after purchasing an additional 20,164 shares in the last quarter. Wealth Preservation Advisors LLC increased its position in AbbVie by 45.9% during the 2nd quarter. Wealth Preservation Advisors LLC now owns 731 shares of the company’s stock worth $136,000 after purchasing an additional 230 shares in the last quarter. Ieq Capital LLC raised its holdings in AbbVie by 4.6% in the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock valued at $22,281,000 after buying an additional 5,274 shares during the period. Finally, Main Street Financial Solutions LLC lifted its position in AbbVie by 19.7% during the second quarter. Main Street Financial Solutions LLC now owns 22,974 shares of the company’s stock valued at $4,265,000 after buying an additional 3,779 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $223.83 on Friday. The firm has a fifty day moving average of $227.47 and a 200-day moving average of $209.31. The company has a market cap of $395.59 billion, a price-to-earnings ratio of 169.57, a price-to-earnings-growth ratio of 1.22 and a beta of 0.36. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.60 and a current ratio of 0.72. AbbVie Inc. has a 1 year low of $164.39 and a 1 year high of $244.81.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.77 by $0.09. The firm had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 16th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, January 16th. This is a positive change from AbbVie’s previous quarterly dividend of $1.64. AbbVie’s dividend payout ratio is presently 496.97%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America upped their price target on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Guggenheim boosted their price objective on AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and upped their target price for the stock from $225.00 to $265.00 in a research report on Wednesday. DZ Bank downgraded AbbVie from a “buy” rating to a “hold” rating and set a $237.00 target price on the stock. in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $243.85.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.