WASHINGTON TRUST Co Cuts Position in AbbVie Inc. $ABBV

WASHINGTON TRUST Co lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,661 shares of the company’s stock after selling 451 shares during the period. WASHINGTON TRUST Co’s holdings in AbbVie were worth $5,320,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie in the second quarter valued at approximately $25,000. TD Capital Management LLC increased its stake in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Spurstone Advisory Services LLC acquired a new stake in AbbVie during the 2nd quarter worth $28,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the 1st quarter valued at about $35,000. Finally, Bear Mountain Capital Inc. increased 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 valued at $40,000 after acquiring an additional 173 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $5.01 during trading on Thursday, hitting $238.24. 1,124,740 shares of the stock were exchanged, compared to its average volume of 6,370,232. The company’s fifty day simple moving average is $224.10 and its 200-day simple moving average is $203.43. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a market capitalization of $421.06 billion, a price-to-earnings ratio of 113.13, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81.

AbbVie (NYSE:ABBV) last released its 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. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same period last year, the firm earned $3.00 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm 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 $1.73 dividend. The ex-dividend date is Friday, January 16th. This is a positive change from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is presently 524.24%.

Analyst Ratings Changes

ABBV has been the topic of a number of recent analyst reports. HSBC set a $225.00 price target on shares of AbbVie in a research note on Thursday, October 2nd. Citigroup decreased their price target on shares of AbbVie from $240.00 to $235.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and increased their price objective for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a report on Thursday, August 7th. Finally, Piper Sandler restated an “overweight” rating and set a $289.00 price objective (up previously from $284.00) on shares of AbbVie in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $238.55.

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.