AbbVie Inc. $ABBV Shares Purchased by Sitrin Capital Management LLC

Sitrin Capital Management LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 596.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,367 shares of the company’s stock after buying an additional 23,435 shares during the quarter. AbbVie accounts for 3.0% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Sitrin Capital Management LLC’s holdings in AbbVie were worth $6,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA acquired a new stake in AbbVie in the 2nd quarter valued at about $25,000. Evolution Wealth Management Inc. acquired a new position in shares of AbbVie during the second quarter worth about $26,000. Spurstone Advisory Services LLC purchased a new stake in shares of AbbVie during the second quarter worth approximately $28,000. Financial Gravity Companies Inc. acquired a new stake in AbbVie in the second quarter valued at approximately $36,000. Finally, Bear Mountain Capital Inc. raised its holdings in AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABBV. JPMorgan Chase & Co. raised their price objective on shares of AbbVie from $250.00 to $260.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and raised their price target for the company from $225.00 to $265.00 in a research note on Wednesday, December 10th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Raymond James Financial set a $256.00 price objective on AbbVie in a report on Monday, November 3rd. Finally, Citigroup decreased their target price on AbbVie from $240.00 to $235.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $245.84.

AbbVie Stock Performance

Shares of ABBV stock opened at $220.57 on Tuesday. The stock’s 50-day moving average is $226.54 and its two-hundred day moving average is $214.39. AbbVie Inc. has a 1 year low of $164.39 and a 1 year high of $244.81. The firm has a market cap of $389.83 billion, a price-to-earnings ratio of 167.10, a PEG ratio of 0.96 and a beta of 0.36.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The firm had revenue of $15.78 billion during 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 business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Increases Dividend

The firm 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 3.1%. This is a boost from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, January 16th. AbbVie’s payout ratio is 496.97%.

AbbVie Company 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.