Petix & Botte Co Sells 3,384 Shares of AbbVie Inc. $ABBV

Petix & Botte Co lowered its position in AbbVie Inc. (NYSE:ABBV) by 39.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,234 shares of the company’s stock after selling 3,384 shares during the quarter. Petix & Botte Co’s holdings in AbbVie were worth $972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FF Advisors LLC raised its holdings in shares of AbbVie by 3.6% in the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after purchasing an additional 53 shares in the last quarter. Private Management Group Inc. lifted its holdings in AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after buying an additional 54 shares during the period. LifeSteps Financial Inc. boosted its position in AbbVie by 0.7% during the 2nd quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock valued at $1,366,000 after acquiring an additional 54 shares in the last quarter. Silicon Valley Capital Partners raised its position in shares of AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares in the last quarter. Finally, Seneca House Advisors lifted its stake in shares of AbbVie by 2.7% during the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 3.7%

NYSE:ABBV opened at $233.42 on Thursday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The company’s fifty day moving average price is $224.10 and its 200-day moving average price is $203.43. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The firm has a market capitalization of $412.54 billion, a P/E ratio of 111.15, a PEG ratio of 1.42 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.09. The company had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current 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 paid a $1.73 dividend. The ex-dividend date is Friday, January 16th. This represents a $6.92 annualized dividend and a dividend yield of 3.0%. This is an increase from AbbVie’s previous quarterly dividend of $1.64. AbbVie’s dividend payout ratio (DPR) is presently 524.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Guggenheim boosted their target price on shares of AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Piper Sandler reaffirmed an “overweight” rating and set a $289.00 target price (up from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Erste Group Bank downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Raymond James Financial set a $256.00 target price on shares of AbbVie in a research report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $236.57.

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.