Patten & Patten Inc. TN Sells 2,568 Shares of AbbVie Inc. $ABBV

Patten & Patten Inc. TN lowered its position in AbbVie Inc. (NYSE:ABBV) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,125 shares of the company’s stock after selling 2,568 shares during the quarter. AbbVie makes up about 2.3% of Patten & Patten Inc. TN’s holdings, making the stock its 7th biggest holding. Patten & Patten Inc. TN’s holdings in AbbVie were worth $39,622,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. BLB&B Advisors LLC raised its holdings in shares of AbbVie by 0.3% in the 3rd quarter. BLB&B Advisors LLC now owns 87,556 shares of the company’s stock valued at $20,273,000 after purchasing an additional 269 shares in the last quarter. Sagespring Wealth Partners LLC grew its stake in shares of AbbVie by 12.4% during the third quarter. Sagespring Wealth Partners LLC now owns 38,051 shares of the company’s stock worth $8,810,000 after purchasing an additional 4,192 shares in the last quarter. Mendel Capital Management LLC increased its holdings in AbbVie by 1.5% in the third quarter. Mendel Capital Management LLC now owns 7,746 shares of the company’s stock valued at $1,794,000 after buying an additional 115 shares during the last quarter. Global Assets Advisory LLC raised its stake in AbbVie by 9.8% in the third quarter. Global Assets Advisory LLC now owns 6,869 shares of the company’s stock valued at $1,591,000 after buying an additional 612 shares in the last quarter. Finally, Biltmore Family Office LLC raised its stake in AbbVie by 10.8% in the third quarter. Biltmore Family Office LLC now owns 34,925 shares of the company’s stock valued at $8,086,000 after buying an additional 3,408 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABBV shares. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. Guggenheim upped their price target on AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of AbbVie from $250.00 to $260.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $289.00 target price (up from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $248.11.

AbbVie Trading Up 0.5%

Shares of NYSE ABBV opened at $219.21 on Friday. The stock has a market cap of $387.42 billion, a P/E ratio of 166.07, a P/E/G ratio of 0.90 and a beta of 0.36. AbbVie Inc. has a twelve month low of $164.39 and a twelve month high of $244.81. The stock has a 50 day moving average of $225.60 and a two-hundred day moving average of $217.41.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. The business had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period last year, the firm posted $3.00 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 16th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Friday, January 16th. This is a positive change 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 currently 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.