First Dallas Securities Inc. reduced its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 75.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 4,027 shares of the company’s stock after selling 12,199 shares during the period. First Dallas Securities Inc.’s holdings in AbbVie were worth $876,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Chelsea Counsel Co. purchased a new position in AbbVie during the third quarter worth about $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at about $28,000. Westend Capital Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at about $29,000. Imprint Wealth LLC boosted its position in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares during the last quarter. Finally, Texas Capital Bancshares Inc TX bought a new stake in shares of AbbVie during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently weighed in on ABBV shares. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research report on Tuesday, June 23rd. Wall Street Zen upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Canaccord Genuity Group increased their price target on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of AbbVie in a research report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.81.
AbbVie Trading Down 0.1%
ABBV opened at $260.88 on Friday. The stock has a market capitalization of $460.92 billion, a P/E ratio of 128.51, a PEG ratio of 0.86 and a beta of 0.30. The stock has a 50-day moving average price of $220.19 and a 200-day moving average price of $220.30. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.46 EPS. On average, equities research analysts predict that AbbVie Inc. will post 14.28 EPS for the current year.
AbbVie Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie’s dividend payout ratio is 340.89%.
About AbbVie
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.
Featured Stories
- Five stocks we like better than AbbVie
- AST SpaceMobile’s Japan Catalyst Puts Its Rollout Story Back in Focus
- Gold and Silver Recovery—3 Precious Metals Stocks for H2 2026
- Klarna’s Google Court Win Could Give Its BNPL Story a Needed Cash Catalyst
- Why Kroger’s Giant Eagle Deal Could Change Everything
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.
