Patten & Patten Inc. TN Sells 8,270 Shares of AbbVie Inc. $ABBV

Patten & Patten Inc. TN decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,855 shares of the company’s stock after selling 8,270 shares during the period. AbbVie makes up about 2.2% of Patten & Patten Inc. TN’s portfolio, making the stock its 7th largest position. Patten & Patten Inc. TN’s holdings in AbbVie were worth $37,211,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Eclectic Associates Inc. ADV raised its holdings in AbbVie by 0.8% during the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock worth $1,337,000 after buying an additional 45 shares during the last quarter. Weil Company Inc. raised its holdings in AbbVie by 2.3% during the third quarter. Weil Company Inc. now owns 2,026 shares of the company’s stock worth $469,000 after buying an additional 46 shares during the last quarter. Hardin Capital Partners LLC raised its holdings in AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after buying an additional 46 shares during the last quarter. Inlet Private Wealth LLC raised its holdings in AbbVie by 0.3% during the third quarter. Inlet Private Wealth LLC now owns 17,001 shares of the company’s stock worth $3,937,000 after buying an additional 47 shares during the last quarter. Finally, D.B. Root & Company LLC raised its holdings in AbbVie by 4.3% during the third quarter. D.B. Root & Company LLC now owns 1,152 shares of the company’s stock worth $267,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 22,381 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the sale, the executive vice president owned 38,137 shares in the company, valued at approximately $8,771,510. This trade represents a 36.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP David Ryan Purdue sold 5,230 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the sale, the senior vice president owned 2,654 shares of the company’s stock, valued at $619,868.24. This trade represents a 66.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.06% of the company’s stock.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie continued to draw bullish attention after reporting strong first-quarter results, with revenue and earnings coming in ahead of expectations and showing that growth is extending beyond Humira into newer drugs like Skyrizi and Rinvoq. AbbVie Delivers Strong Q1 Earnings Beyond Humira. This Dividend King Still Shines.
• Positive Sentiment: AbbVie completed an early safety study for ABBV-142, which may improve investor confidence in the company’s pipeline and future oncology growth prospects. AbbVie Completes Early Safety Study for ABBV-142, Nudging Pipeline Hopes Higher
• Positive Sentiment: AbbVie and adMare BioInnovations named RIME Therapeutics as a Biotech Innovators Award winner, reinforcing AbbVie’s efforts to support early-stage biotech innovation and build optionality around its pipeline ecosystem. AbbVie (ABBV), adMare BioInnovations Name RIME Therapeutics as Biotech Innovators Award Winner
• Positive Sentiment: Skyrizi ranked ahead of J&J’s Tremfya in April drug ad spending, signaling continued competitive momentum and heavy marketing support for one of AbbVie’s key growth brands. AbbVie’s Skyrizi beats out J&J’s Tremfya in April drug ad spending leaderboard
• Neutral Sentiment: Analyst commentary and Q1 earnings-call recaps highlighted ongoing interest in AbbVie’s post-Humira growth strategy, but these pieces were mostly interpretive rather than new market-moving disclosures. 5 must-read analyst questions from AbbVie’s Q1 earnings call
• Neutral Sentiment: Coverage on SKYRIZI expansion and reimbursement progress in Canada suggests continued international adoption, but the article framed these as part of an already constructive longer-term thesis rather than a single new catalyst. Does Strong Q1 Results And SKYRIZI Expansion Reshape The Bull Case For AbbVie (ABBV)?
• Negative Sentiment: One relative headwind is that ABBV shares have recently traded below key moving averages, reflecting some investor caution even as fundamentals remain solid.

AbbVie Trading Down 0.7%

Shares of ABBV opened at $201.24 on Friday. The company has a market capitalization of $355.83 billion, a price-to-earnings ratio of 99.13, a PEG ratio of 0.70 and a beta of 0.32. The stock has a 50 day moving average of $213.18 and a 200 day moving average of $221.00. AbbVie Inc. has a 12 month low of $176.57 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 911.57% and a net margin of 5.79%.AbbVie’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 340.89%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays assumed coverage on shares of AbbVie in a report on Thursday, February 19th. They set an “overweight” rating and a $275.00 price objective on the stock. Royal Bank Of Canada started coverage on shares of AbbVie in a report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price objective on the stock. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. UBS Group lowered their target price on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Finally, Canaccord Genuity Group increased their target price on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $252.90.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.