Washington Trust Bank Has $1.84 Million Holdings in AbbVie Inc. $ABBV

Washington Trust Bank trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 41.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,304 shares of the company’s stock after selling 5,155 shares during the period. Washington Trust Bank’s holdings in AbbVie were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $28,000. Imprint Wealth LLC increased its stake in AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Burk Holdings LLC acquired a new stake in AbbVie during the 2nd quarter worth approximately $30,000. IFC & Insurance Marketing Inc. bought a new position in AbbVie in the fourth quarter valued at approximately $31,000. Finally, Abound Financial LLC bought a new position in AbbVie in the fourth quarter valued at approximately $32,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.1%

NYSE ABBV opened at $256.27 on Tuesday. The company has a market cap of $452.78 billion, a PE ratio of 72.39, a PEG ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $267.47. The stock has a 50 day moving average of $254.71 and a 200-day moving average of $230.21.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The business had revenue of $16.99 billion during the quarter, compared to analysts’ expectations of $16.80 billion. During the same period last year, the business earned $2.97 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were paid a dividend of $1.73 per share. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie’s payout ratio is currently 195.48%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. Barclays increased their price objective on shares of AbbVie from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. HSBC reaffirmed a “buy” rating and issued a $300.00 target price on shares of AbbVie in a research note on Monday, July 6th. UBS Group lifted their price target on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. upped their price objective on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Wolfe Research upgraded AbbVie from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $275.95.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the sale, the executive vice president directly owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

AbbVie 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.