DAVENPORT & Co LLC Decreases Position in AbbVie Inc. $ABBV

DAVENPORT & Co LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 187,960 shares of the company’s stock after selling 3,329 shares during the period. DAVENPORT & Co LLC’s holdings in AbbVie were worth $43,514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC raised its position in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Warwick Investment Management Inc. boosted its holdings in shares of AbbVie by 20.5% during the 1st quarter. Warwick Investment Management Inc. now owns 2,319 shares of the company’s stock valued at $486,000 after buying an additional 395 shares in the last quarter. Ieq Capital LLC grew its holdings in AbbVie by 49.8% in the first quarter. Ieq Capital LLC now owns 114,761 shares of the company’s stock worth $24,045,000 after purchasing an additional 38,156 shares during the period. Finally, CreativeOne Wealth LLC increased its position in AbbVie by 4.2% during the 1st quarter. CreativeOne Wealth LLC now owns 42,217 shares of the company’s stock valued at $8,845,000 after buying an additional 1,712 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of AbbVie from $195.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Evercore ISI increased their price objective on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. DZ Bank lowered AbbVie from a “buy” rating to a “hold” rating and set a $237.00 price target for the company. in a report on Tuesday, November 4th. Cantor Fitzgerald set a $250.00 price objective on shares of AbbVie and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $289.00 price target (up from $284.00) on shares of AbbVie in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $245.84.

AbbVie Trading Up 0.6%

Shares of ABBV opened at $230.18 on Thursday. AbbVie Inc. has a twelve month low of $164.39 and a twelve month high of $244.81. The company’s fifty day simple moving average is $226.65 and its 200-day simple moving average is $212.00. The company has a market cap of $406.81 billion, a P/E ratio of 174.38, a P/E/G ratio of 1.30 and a beta of 0.36. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.00 earnings per share. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 16th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, January 16th. AbbVie’s dividend payout ratio is 496.97%.

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.