Sowell Financial Services LLC Sells 8,716 Shares of AbbVie Inc. $ABBV

Sowell Financial Services LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,225 shares of the company’s stock after selling 8,716 shares during the period. Sowell Financial Services LLC’s holdings in AbbVie were worth $12,324,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sovereign Financial Group Inc. grew its stake in AbbVie by 3.5% in the third quarter. Sovereign Financial Group Inc. now owns 3,685 shares of the company’s stock valued at $853,000 after acquiring an additional 124 shares during the period. Mayflower Financial Advisors LLC raised its position in shares of AbbVie by 21.8% during the third quarter. Mayflower Financial Advisors LLC now owns 19,098 shares of the company’s stock worth $4,422,000 after purchasing an additional 3,414 shares during the period. Rede Wealth LLC lifted its holdings in shares of AbbVie by 388.2% during the 3rd quarter. Rede Wealth LLC now owns 8,528 shares of the company’s stock valued at $1,975,000 after purchasing an additional 6,781 shares in the last quarter. BankPlus Trust Department grew its position in shares of AbbVie by 3.5% in the 3rd quarter. BankPlus Trust Department now owns 28,065 shares of the company’s stock valued at $6,498,000 after purchasing an additional 952 shares during the period. Finally, Founders Grove Wealth Partners LLC grew its position in shares of AbbVie by 3.6% in the 3rd quarter. Founders Grove Wealth Partners LLC now owns 2,473 shares of the company’s stock valued at $573,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Scotiabank assumed coverage on shares of AbbVie in a report on Thursday, November 13th. They set a “sector outperform” rating and a $280.00 target price on the stock. Guggenheim raised their price objective on shares of AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Wall Street Zen raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. BMO Capital Markets increased their target price on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Finally, Bank of America boosted their price target on AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $245.84.

AbbVie Stock Up 0.1%

AbbVie stock opened at $230.07 on Monday. The company has a fifty day simple moving average of $226.73 and a 200 day simple moving average of $212.72. 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 Inc. has a 1-year low of $164.39 and a 1-year high of $244.81. The company has a market cap of $406.63 billion, a P/E ratio of 174.30, a price-to-earnings-growth ratio of 1.31 and a beta of 0.36.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.09. The company 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%.AbbVie’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared 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 is a positive change from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, January 16th. This represents a $6.92 annualized dividend and a dividend yield of 3.0%. AbbVie’s payout ratio is presently 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.