Convergence Financial LLC Raises Holdings in AbbVie Inc. $ABBV

Convergence Financial LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 74.1% in the second quarter, Holdings Channel reports. The firm owned 2,347 shares of the company’s stock after buying an additional 999 shares during the period. Convergence Financial LLC’s holdings in AbbVie were worth $436,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. TD Capital Management LLC grew its position in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in AbbVie during the 2nd quarter worth approximately $25,000. Abound Financial LLC purchased a new stake in AbbVie during the 1st quarter worth approximately $30,000. Cypress Capital Management LLC WY acquired a new stake in AbbVie during the 1st quarter worth approximately $35,000. Finally, Bear Mountain Capital Inc. boosted its position in AbbVie by 480.6% in the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after buying an additional 173 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Raymond James Financial set a $256.00 price target on shares of AbbVie in a research note on Monday. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a research report on Thursday, August 7th. Finally, DZ Bank cut shares of AbbVie from a “buy” rating to a “hold” rating and set a $237.00 price target for the company. in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $237.81.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $216.09 on Wednesday. The business’s 50 day simple moving average is $222.66 and its 200-day simple moving average is $201.73. The firm has a market capitalization of $381.73 billion, a price-to-earnings ratio of 102.90, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51. 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 Inc. has a 12 month low of $163.81 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.09. The firm had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.00 earnings per share. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 16th will be given a $1.73 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, January 16th. AbbVie’s dividend payout ratio (DPR) is currently 524.24%.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

About AbbVie

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.