Prosperity Consulting Group LLC Sells 642 Shares of AbbVie Inc. $ABBV

Prosperity Consulting Group LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,765 shares of the company’s stock after selling 642 shares during the period. Prosperity Consulting Group LLC’s holdings in AbbVie were worth $4,783,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in AbbVie by 0.5% in the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock worth $36,439,271,000 after purchasing an additional 845,787 shares during the period. Northern Trust Corp grew its holdings in AbbVie by 0.9% in the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock worth $4,612,357,000 after purchasing an additional 189,294 shares during the period. Goldman Sachs Group Inc. grew its holdings in AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AbbVie by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock worth $2,675,959,000 after purchasing an additional 713,148 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of AbbVie by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock valued at $1,972,050,000 after buying an additional 45,871 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $212.04 on Tuesday. The firm’s 50-day simple moving average is $222.51 and its two-hundred day simple moving average is $201.42. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The firm has a market cap of $374.58 billion, a price-to-earnings ratio of 100.97, a P/E/G ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.09. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the previous year, the firm posted $3.00 earnings per share. The company’s quarterly revenue 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, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current 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 represents a $6.92 annualized dividend and a dividend yield of 3.3%. This is an increase from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, January 16th. AbbVie’s payout ratio is presently 524.24%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several analyst reports. Guggenheim boosted their price target on shares of AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. Cantor Fitzgerald set a $250.00 price target on shares of AbbVie and gave the stock an “overweight” rating in a report on Thursday, October 9th. Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, Bank of America boosted their price target on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $237.85.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.