Jennison Associates LLC Boosts Stock Position in AbbVie Inc. $ABBV

Jennison Associates LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% in the third quarter, Holdings Channel reports. The fund owned 619,984 shares of the company’s stock after purchasing an additional 10,808 shares during the period. Jennison Associates LLC’s holdings in AbbVie were worth $143,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. Conning Inc. boosted its holdings in shares of AbbVie by 7.1% in the second quarter. Conning Inc. now owns 191,023 shares of the company’s stock valued at $35,458,000 after acquiring an additional 12,690 shares in the last quarter. Diversified Trust Co raised its holdings in AbbVie by 23.6% during the third quarter. Diversified Trust Co now owns 57,076 shares of the company’s stock worth $13,215,000 after purchasing an additional 10,891 shares in the last quarter. Dohj LLC lifted its position in AbbVie by 41.8% in the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after purchasing an additional 1,335 shares during the period. Permanent Capital Management LP purchased a new stake in AbbVie in the 3rd quarter valued at approximately $720,000. Finally, Railway Pension Investments Ltd increased its position in AbbVie by 33.0% during the 3rd quarter. Railway Pension Investments Ltd now owns 853,949 shares of the company’s stock worth $197,723,000 after purchasing an additional 211,800 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Cantor Fitzgerald set a $250.00 price target on AbbVie and gave the company an “overweight” rating in a report on Thursday, October 9th. Scotiabank initiated coverage on AbbVie in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $280.00 target price for the company. Erste Group Bank lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Guggenheim increased their price target on shares of AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $225.00 to $265.00 in a report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $248.11.

AbbVie Price Performance

Shares of NYSE ABBV opened at $219.21 on Friday. The firm’s 50-day moving average is $225.60 and its two-hundred day moving average is $217.22. AbbVie Inc. has a 12-month low of $164.39 and a 12-month high of $244.81. The company has a market capitalization of $387.42 billion, a PE ratio of 166.07, a price-to-earnings-growth ratio of 0.90 and a beta of 0.36.

AbbVie (NYSE:ABBV) last posted 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 for the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.AbbVie’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. On average, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be paid a dividend of $1.73 per share. The ex-dividend date of this dividend is Friday, January 16th. This is an increase from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.2%. AbbVie’s dividend payout ratio is 524.24%.

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.