BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 59,257 Shares of AbbVie Inc. $ABBV

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in AbbVie Inc. (NYSE:ABBV) by 17.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,699 shares of the company’s stock after selling 59,257 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AbbVie were worth $51,732,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. FF Advisors LLC boosted its stake in AbbVie by 3.6% during the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after buying an additional 53 shares during the last quarter. Landaas & Co. WI ADV raised its holdings in shares of AbbVie by 1.1% during the 2nd quarter. Landaas & Co. WI ADV now owns 4,955 shares of the company’s stock worth $920,000 after acquiring an additional 53 shares in the last quarter. Bernardo Wealth Planning LLC boosted its position in shares of AbbVie by 2.9% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 1,909 shares of the company’s stock valued at $354,000 after acquiring an additional 53 shares during the last quarter. LifeSteps Financial Inc. grew its holdings in shares of AbbVie by 0.7% in the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock valued at $1,366,000 after purchasing an additional 54 shares in the last quarter. Finally, Silicon Valley Capital Partners increased its position in AbbVie by 10.8% in the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ABBV. Piper Sandler reiterated an “overweight” rating and set a $289.00 price objective (up previously from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Evercore ISI lifted their price target on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Guggenheim boosted their price objective on AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Bank of America raised their price objective on AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley boosted their target price on AbbVie from $261.00 to $269.00 and gave the company an “overweight” rating in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.55.

AbbVie Trading Down 0.2%

Shares of NYSE ABBV opened at $223.45 on Friday. AbbVie Inc. has a fifty-two week low of $164.39 and a fifty-two week high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.60 and a current ratio of 0.72. The company has a market cap of $394.92 billion, a price-to-earnings ratio of 169.28, a PEG ratio of 1.21 and a beta of 0.36. The business’s 50 day moving average price is $227.25 and its 200-day moving average price is $209.59.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The company had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.AbbVie’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Increases Dividend

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

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.