AbbVie Inc. $ABBV Stake Lessened by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the second quarter, HoldingsChannel.com reports. The firm owned 296,984 shares of the company’s stock after selling 2,655 shares during the period. Letko Brosseau & Associates Inc.’s holdings in AbbVie were worth $55,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. TD Capital Management LLC lifted its stake in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie during the 2nd quarter worth $25,000. Spurstone Advisory Services LLC acquired a new position in shares of AbbVie in the 2nd quarter worth $28,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the first quarter worth $35,000. Finally, Bear Mountain Capital Inc. raised its position in shares of AbbVie by 480.6% during the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after purchasing an additional 173 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.1%

AbbVie stock opened at $232.43 on Friday. The company has a market capitalization of $410.79 billion, a price-to-earnings ratio of 110.68, a PEG ratio of 1.42 and a beta of 0.50. The company’s fifty day moving average price is $224.89 and its two-hundred day moving average price is $203.98. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly 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. The company had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.00 earnings per share. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced 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. This represents a $6.92 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, January 16th. This is an increase from AbbVie’s previous quarterly dividend of $1.64. AbbVie’s dividend payout ratio is currently 524.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABBV shares. Wall Street Zen upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Piper Sandler reissued an “overweight” rating and set a $289.00 price target (up from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Guggenheim lifted their target price on AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Scotiabank assumed coverage on shares of AbbVie in a research report on Thursday. They set a “sector outperform” rating and a $280.00 price objective on the stock. Finally, Raymond James Financial set a $256.00 target price on shares of AbbVie in a research note on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $240.14.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.