WASHINGTON TRUST Co Decreases Stake in AbbVie Inc. $ABBV

WASHINGTON TRUST Co trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Capital Investment Counsel Inc grew its holdings in shares of AbbVie by 97.2% during the 2nd quarter. Capital Investment Counsel Inc now owns 2,079 shares of the company’s stock valued at $386,000 after purchasing an additional 1,025 shares during the last quarter. ABN Amro Investment Solutions bought a new position in AbbVie in the 2nd quarter valued at approximately $12,597,000. Cherokee Insurance Co purchased a new position in shares of AbbVie during the second quarter valued at approximately $1,856,000. Candriam S.C.A. grew its stake in shares of AbbVie by 43.4% during the 2nd quarter. Candriam S.C.A. now owns 575,792 shares of the company’s stock valued at $106,883,000 after purchasing an additional 174,294 shares during the period. Finally, Impax Asset Management Group plc bought a new position in AbbVie in the 2nd quarter worth $990,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 2.1%

ABBV stock traded up $5.01 during midday trading on Thursday, hitting $238.24. 1,124,740 shares of the company’s stock were exchanged, compared to its average volume of 6,370,232. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The stock 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. The firm has a 50 day moving average price of $224.10 and a 200-day moving average price of $203.43.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 699.66% and a net margin of 6.45%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 16th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.9%. This is a boost from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, January 16th. AbbVie’s dividend payout ratio is presently 524.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of AbbVie from $250.00 to $260.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Hsbc Global Res downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. BMO Capital Markets lifted their price objective on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Finally, Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.55.

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.