Renaissance Group LLC Sells 3,467 Shares of AbbVie Inc. $ABBV

Renaissance Group LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,495 shares of the company’s stock after selling 3,467 shares during the period. Renaissance Group LLC’s holdings in AbbVie were worth $27,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. TD Capital Management LLC raised its holdings in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie in the 2nd quarter valued at $25,000. Spurstone Advisory Services LLC bought a new stake in AbbVie during the second quarter valued at $28,000. Financial Gravity Companies Inc. acquired a new stake in AbbVie during the 2nd quarter worth about $36,000. Finally, Bear Mountain Capital Inc. boosted its position in shares of AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.1%

Shares of AbbVie stock opened at $233.83 on Wednesday. The stock has a market capitalization of $413.27 billion, a PE ratio of 111.35, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The company has a 50-day simple moving average of $225.84 and a two-hundred day simple moving average of $204.57.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.09. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the previous year, the firm earned $3.00 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. 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 fiscal year.

AbbVie Increases Dividend

The company 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 is an increase from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, January 16th. This represents a $6.92 dividend on an annualized basis and a yield of 3.0%. AbbVie’s dividend payout ratio is currently 524.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABBV. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Cantor Fitzgerald set a $250.00 price target on shares of AbbVie and gave the company an “overweight” rating in a research report on Thursday, October 9th. HSBC set a $225.00 price objective on shares of AbbVie in a report on Thursday, October 2nd. Evercore ISI upped their price target on shares of AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, DZ Bank cut shares of AbbVie from a “buy” rating to a “hold” rating and set a $237.00 price objective on the stock. in a research report on Tuesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $240.14.

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.