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

Montecito Bank & Trust purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 3rd quarter, HoldingsChannel reports. The firm purchased 34,329 shares of the company’s stock, valued at approximately $7,949,000. AbbVie accounts for about 1.2% of Montecito Bank & Trust’s holdings, making the stock its 19th biggest holding.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its stake in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Algert Global LLC grew its position in AbbVie by 16.0% during the 1st quarter. Algert Global LLC now owns 9,186 shares of the company’s stock worth $1,925,000 after purchasing an additional 1,264 shares during the period. Colonial Trust Advisors raised its stake in shares of AbbVie by 5.3% during the 1st quarter. Colonial Trust Advisors now owns 2,727 shares of the company’s stock valued at $571,000 after buying an additional 137 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of AbbVie by 4.5% in the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 38,131 shares of the company’s stock valued at $7,989,000 after buying an additional 1,652 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ABBV. Scotiabank began coverage on AbbVie in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $280.00 price target for the company. Wall Street Zen raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Piper Sandler reiterated an “overweight” rating and issued a $289.00 target price (up from $284.00) on shares of AbbVie in a research note on Wednesday, November 5th. BMO Capital Markets raised their price target on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Finally, Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.84.

AbbVie Stock Performance

NYSE:ABBV opened at $224.32 on Thursday. 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 stock has a market capitalization of $396.47 billion, a PE ratio of 169.94, a P/E/G ratio of 1.27 and a beta of 0.36. AbbVie Inc. has a fifty-two week low of $164.39 and a fifty-two week high of $244.81. The company has a fifty day moving average of $226.87 and a two-hundred day moving average of $210.61.

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. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. The business had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter last year, the business earned $3.00 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, research analysts forecast 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. Shareholders of record on Friday, January 16th will be paid a dividend of $1.73 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, January 16th. This represents a $6.92 annualized dividend and a yield of 3.1%. AbbVie’s dividend payout ratio (DPR) is presently 496.97%.

AbbVie Company 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.