34,329 Shares in AbbVie Inc. $ABBV Purchased by Montecito Bank & Trust

Montecito Bank & Trust purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 34,329 shares of the company’s stock, valued at approximately $7,949,000. AbbVie comprises about 1.2% of Montecito Bank & Trust’s investment portfolio, making the stock its 19th largest holding.

Several other institutional investors have also added to or reduced their stakes in ABBV. Hobart Private Capital LLC raised its holdings in shares of AbbVie by 4.4% in the third quarter. Hobart Private Capital LLC now owns 1,127 shares of the company’s stock worth $261,000 after buying an additional 48 shares during the period. Sivia Capital Partners LLC boosted its holdings in AbbVie by 1.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,571 shares of the company’s stock valued at $848,000 after acquiring an additional 51 shares during the period. FF Advisors LLC grew its position in 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 acquiring an additional 53 shares during the last quarter. Landaas & Co. WI ADV increased its stake in AbbVie by 1.1% in the second quarter. Landaas & Co. WI ADV now owns 4,955 shares of the company’s stock worth $920,000 after purchasing an additional 53 shares during the period. Finally, Bernardo Wealth Planning LLC increased its stake in AbbVie by 2.9% in the second quarter. Bernardo Wealth Planning LLC now owns 1,909 shares of the company’s stock worth $354,000 after purchasing an additional 53 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.3%

AbbVie stock opened at $224.32 on Thursday. AbbVie Inc. has a 1-year low of $164.39 and a 1-year high of $244.81. The business has a fifty day moving average price of $226.87 and a 200-day moving average price of $210.61. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.72 and a quick ratio of 0.60. The stock has a market capitalization of $396.47 billion, a price-to-earnings ratio of 169.94, a PEG ratio of 1.27 and a beta of 0.36.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.09. The company had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be given a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, January 16th. This is an increase from AbbVie’s previous quarterly dividend of $1.64. AbbVie’s payout ratio is 496.97%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group upped their price target on shares of AbbVie from $195.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Wall Street Zen raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Raymond James Financial set a $256.00 target price on shares of AbbVie in a research report on Monday, November 3rd. Scotiabank initiated coverage on shares of AbbVie in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $280.00 price target for the company. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and increased their price objective for the stock from $225.00 to $265.00 in a research note on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.84.

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.