Correct Capital Wealth Management Purchases 351 Shares of AbbVie Inc. $ABBV

Correct Capital Wealth Management increased its position in AbbVie Inc. (NYSE:ABBV) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,650 shares of the company’s stock after purchasing an additional 351 shares during the quarter. Correct Capital Wealth Management’s holdings in AbbVie were worth $1,606,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of AbbVie by 1.9% during the second quarter. Vanguard Group Inc. now owns 177,298,707 shares of the company’s stock worth $32,910,186,000 after buying an additional 3,380,842 shares during the last quarter. Geode Capital Management LLC grew its holdings in AbbVie by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 39,178,351 shares of the company’s stock worth $7,240,169,000 after acquiring an additional 924,761 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of AbbVie by 6.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,783,329 shares of the company’s stock valued at $4,970,848,000 after acquiring an additional 1,517,222 shares during the last quarter. Northern Trust Corp lifted its stake in shares of AbbVie by 0.9% in the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after purchasing an additional 189,294 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on ABBV. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Raymond James Financial set a $256.00 target price on AbbVie in a research report on Monday, November 3rd. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and increased their price target for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Citigroup reduced their price objective 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. Finally, Scotiabank began coverage on shares of AbbVie in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $280.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $241.85.

AbbVie Stock Up 1.0%

Shares of ABBV stock opened at $231.83 on Wednesday. AbbVie Inc. has a 12-month low of $164.39 and a 12-month high of $244.81. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The firm has a fifty day moving average of $227.36 and a 200-day moving average of $206.12. The company has a market capitalization of $409.74 billion, a price-to-earnings ratio of 110.40, a P/E/G ratio of 1.42 and a beta of 0.50.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be issued a dividend of $1.73 per share. The ex-dividend date is Friday, January 16th. This is a boost from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.0%. AbbVie’s dividend payout ratio is 524.24%.

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.