AbbVie Inc. $ABBV Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,725 shares of the company’s stock after selling 2,204 shares during the quarter. AbbVie accounts for 1.9% of Griffin Asset Management Inc.’s portfolio, making the stock its 11th largest position. Griffin Asset Management Inc.’s holdings in AbbVie were worth $17,122,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ABBV. Procyon Advisors LLC grew its position in AbbVie by 19.9% in the fourth quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock valued at $7,484,000 after acquiring an additional 5,427 shares in the last quarter. Waycross Partners LLC lifted its position in shares of AbbVie by 2.9% during the fourth quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock worth $41,694,000 after purchasing an additional 5,063 shares in the last quarter. Calamos Advisors LLC lifted its position in shares of AbbVie by 3.4% during the fourth quarter. Calamos Advisors LLC now owns 466,290 shares of the company’s stock worth $106,543,000 after purchasing an additional 15,458 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AbbVie by 11.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 636,710 shares of the company’s stock valued at $143,026,000 after purchasing an additional 66,720 shares during the period. Finally, Savvy Advisors Inc. grew its holdings in AbbVie by 22.2% during the 4th quarter. Savvy Advisors Inc. now owns 36,568 shares of the company’s stock valued at $8,355,000 after purchasing an additional 6,646 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Canaccord Genuity Group raised their target price on AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Thursday, April 30th. Finally, Wells Fargo & Company set a $260.00 price target on AbbVie in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $258.19.

AbbVie Stock Down 1.1%

ABBV opened at $249.98 on Friday. The company’s 50-day moving average price is $224.54 and its 200 day moving average price is $221.06. AbbVie Inc. has a fifty-two week low of $184.63 and a fifty-two week high of $261.64. The firm has a market cap of $441.67 billion, a price-to-earnings ratio of 123.14, a price-to-earnings-growth ratio of 0.83 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.46 earnings per share. Research analysts anticipate that AbbVie Inc. will post 14.25 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio is presently 340.89%.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: JPMorgan raised its price target on AbbVie to $280 from $260 and kept an overweight rating, signaling confidence in further upside. Benzinga
• Positive Sentiment: The European Commission approved AbbVie’s Tepkinly-based combination for relapsed or refractory follicular lymphoma, expanding the company’s oncology footprint and potentially supporting future sales growth. Pharmaceutical Technology
• Positive Sentiment: AbbVie also completed a first-in-human ABBV-277 trial, and early safety data could matter for its pipeline if the program continues to show promise. TipRanks
• Neutral Sentiment: West Pharmaceutical completed the SmartDose 3.5mL sale to AbbVie, a transaction that helps West refocus on its core business but is not likely to be a major direct driver for AbbVie’s stock. Zacks
• Neutral Sentiment: Market commentary on cystic fibrosis drug development highlighted AbbVie’s presence in a growing orphan-drug category, but the article was broad industry context rather than a company-specific catalyst. Yahoo Finance
• Negative Sentiment: Despite the positive headlines, AbbVie’s shares ended the session lower, suggesting investors may be taking profits or waiting for the upcoming earnings report and clearer pipeline results. Zacks

AbbVie 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.