AbbVie Inc. $ABBV Stock Position Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,506,497 shares of the company’s stock after selling 731,206 shares during the period. Bank of New York Mellon Corp’s holdings in AbbVie were worth $2,321,456,000 at the end of the most recent reporting period.

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

AbbVie Stock Performance

Shares of NYSE ABBV opened at $218.14 on Monday. The business’s 50-day simple moving average is $222.42 and its 200-day simple moving average is $201.15. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The firm has a market cap of $385.35 billion, a price-to-earnings ratio of 103.87, a P/E/G ratio of 1.42 and a beta of 0.51.

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 return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be issued a $1.73 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, January 16th. This represents a $6.92 annualized dividend and a yield of 3.2%. AbbVie’s payout ratio is 524.24%.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. Cantor Fitzgerald set a $250.00 target price on AbbVie and gave the company an “overweight” rating in a report on Thursday, October 9th. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Guggenheim lifted their price objective on AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a research report on Monday, October 20th. HSBC set a $225.00 target price on AbbVie in a research report on Thursday, October 2nd. Finally, Citigroup reiterated a “neutral” rating on shares of AbbVie in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.80.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by insiders.

AbbVie Company Profile

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.