Wealthspire Advisors LLC Sells 2,888 Shares of AbbVie Inc. $ABBV

Wealthspire Advisors LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,854 shares of the company’s stock after selling 2,888 shares during the period. Wealthspire Advisors LLC’s holdings in AbbVie were worth $9,440,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Perennial Investment Advisors LLC lifted its stake in AbbVie by 2.9% in the second quarter. Perennial Investment Advisors LLC now owns 4,140 shares of the company’s stock valued at $768,000 after purchasing an additional 116 shares during the last quarter. Diversified Portfolios Inc. raised its stake in shares of AbbVie by 1.3% in the second quarter. Diversified Portfolios Inc. now owns 5,230 shares of the company’s stock valued at $971,000 after buying an additional 69 shares during the period. Purus Wealth Management LLC bought a new stake in shares of AbbVie in the second quarter valued at $214,000. United Advisor Group LLC lifted its position in shares of AbbVie by 6.5% during the 2nd quarter. United Advisor Group LLC now owns 3,108 shares of the company’s stock valued at $577,000 after buying an additional 190 shares during the last quarter. Finally, First American Trust FSB grew its stake in shares of AbbVie by 1.4% during the 2nd quarter. First American Trust FSB now owns 58,049 shares of the company’s stock worth $10,775,000 after acquiring an additional 819 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and increased their target price for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Piper Sandler reiterated an “overweight” rating and issued a $289.00 target price (up previously from $284.00) on shares of AbbVie in a research note on Wednesday, November 5th. Citigroup lowered their price target on shares of AbbVie from $240.00 to $235.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Finally, Bank of America raised their price objective on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $240.14.

AbbVie Trading Down 0.1%

Shares of ABBV opened at $233.83 on Wednesday. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. The stock has a market cap of $413.27 billion, a PE ratio of 111.35, a P/E/G ratio of 1.42 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The business’s 50-day moving average price is $225.84 and its 200-day moving average price is $204.57.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 during 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%. AbbVie’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $3.00 earnings per share. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Increases Dividend

The company 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 dividend of $1.73 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, January 16th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is presently 524.24%.

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.