Meridian Wealth Management LLC Cuts Stock Position in AbbVie Inc. $ABBV

Meridian Wealth Management LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,766 shares of the company’s stock after selling 1,053 shares during the quarter. AbbVie accounts for approximately 0.6% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position. Meridian Wealth Management LLC’s holdings in AbbVie were worth $14,249,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of AbbVie by 0.5% in the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock valued at $36,439,271,000 after acquiring an additional 845,787 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of AbbVie by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 39,178,351 shares of the company’s stock valued at $7,240,169,000 after buying an additional 924,761 shares during the period. Northern Trust Corp grew its position in shares of AbbVie by 0.9% during the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock worth $4,612,357,000 after buying an additional 189,294 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after acquiring an additional 3,519,187 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AbbVie by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock worth $2,675,959,000 after acquiring an additional 713,148 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.1%

ABBV opened at $232.43 on Friday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The business has a 50 day moving average price of $224.89 and a two-hundred day moving average price of $203.90. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The company has a market cap of $410.79 billion, a PE ratio of 110.68, a P/E/G ratio of 1.42 and a beta of 0.50.

AbbVie (NYSE:ABBVGet Free Report) last released its earnings results 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. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the previous year, the company posted $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 anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be issued a dividend of $1.73 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, January 16th. AbbVie’s dividend payout ratio is currently 524.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABBV shares. Piper Sandler reiterated an “overweight” rating and set a $289.00 target price (up previously from $284.00) on shares of AbbVie in a research note on Wednesday, November 5th. Wells Fargo & Company increased their price objective on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Erste Group Bank cut AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. BMO Capital Markets increased their price target on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Finally, HSBC set a $225.00 price objective on AbbVie in a report on Thursday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $240.14.

Read Our Latest Report on AbbVie

AbbVie Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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