AbbVie Inc. $ABBV Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 157,624 shares of the company’s stock after selling 7,156 shares during the quarter. AbbVie accounts for approximately 3.1% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 9th largest holding. Cornerstone Capital Inc.’s holdings in AbbVie were worth $29,258,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ABBV. Southeast Asset Advisors LLC boosted its stake in AbbVie by 1.4% during the second quarter. Southeast Asset Advisors LLC now owns 15,529 shares of the company’s stock worth $2,882,000 after buying an additional 207 shares in the last quarter. Columbia Bank boosted its position in shares of AbbVie by 3.1% during the 2nd quarter. Columbia Bank now owns 2,530 shares of the company’s stock valued at $480,000 after acquiring an additional 77 shares in the last quarter. Laurel Wealth Advisors LLC increased its stake in AbbVie by 18,384.4% in the second quarter. Laurel Wealth Advisors LLC now owns 5,705,964 shares of the company’s stock valued at $1,059,141,000 after acquiring an additional 5,675,095 shares during the period. XTX Topco Ltd acquired a new position in AbbVie in the second quarter worth about $3,923,000. Finally, Aviso Financial Inc. lifted its stake in AbbVie by 4.8% during the second quarter. Aviso Financial Inc. now owns 10,764 shares of the company’s stock worth $1,998,000 after purchasing an additional 494 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 2.8%

Shares of NYSE ABBV opened at $229.61 on Tuesday. AbbVie Inc. has a 1-year low of $164.39 and a 1-year high of $244.81. The company has a 50-day moving average of $227.05 and a two-hundred day moving average of $205.78. The company has a market cap of $405.81 billion, a PE ratio of 109.34, a P/E/G ratio of 1.42 and a beta of 0.50. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.77 by $0.09. The business had revenue of $15.78 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $3.00 earnings per share. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, equities 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. Stockholders of record on Friday, January 16th will be paid a $1.73 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, January 16th. This represents a $6.92 annualized dividend and a dividend yield of 3.0%. AbbVie’s payout ratio is 524.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABBV. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research note on Thursday, August 7th. Scotiabank started coverage on AbbVie in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $280.00 price target on the stock. Cantor Fitzgerald set a $250.00 price objective on AbbVie and gave the company an “overweight” rating in a report on Thursday, October 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $289.00 target price (up previously from $284.00) on shares of AbbVie in a report on Wednesday, November 5th. Finally, BMO Capital Markets increased their target price on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.85.

AbbVie 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.