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

DAVENPORT & Co LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC grew its position in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Warwick Investment Management Inc. raised its stake 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 purchasing an additional 395 shares during the period. Ieq Capital LLC raised its stake in shares of AbbVie by 49.8% during the 1st quarter. Ieq Capital LLC now owns 114,761 shares of the company’s stock valued at $24,045,000 after purchasing an additional 38,156 shares during the period. Finally, CreativeOne Wealth LLC lifted its holdings in AbbVie by 4.2% during the 1st quarter. CreativeOne Wealth LLC now owns 42,217 shares of the company’s stock worth $8,845,000 after purchasing an additional 1,712 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Raymond James Financial set a $256.00 price target on AbbVie in a research report on Monday, November 3rd. Evercore ISI upped their target price on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Piper Sandler reissued an “overweight” rating and issued a $289.00 price target (up from $284.00) on shares of AbbVie in a report on Wednesday, November 5th. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and boosted their price target for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Finally, Bank of America increased their price objective on AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.84.

AbbVie Stock Performance

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

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. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The business had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the prior year, the firm earned $3.00 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 3.0%. 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%.

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.