Oliver Luxxe Assets LLC Lowers Stock Position in AbbVie Inc. $ABBV

Oliver Luxxe Assets LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,485 shares of the company’s stock after selling 2,145 shares during the quarter. AbbVie accounts for about 1.2% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 26th largest position. Oliver Luxxe Assets LLC’s holdings in AbbVie were worth $7,923,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ABBV. Willner & Heller LLC lifted its position in shares of AbbVie by 0.7% in the second quarter. Willner & Heller LLC now owns 5,852 shares of the company’s stock valued at $1,472,000 after acquiring an additional 43 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in AbbVie by 0.6% during the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock valued at $1,648,000 after purchasing an additional 44 shares during the period. Eclectic Associates Inc. ADV lifted its holdings in AbbVie by 0.8% in the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock worth $1,337,000 after purchasing an additional 45 shares in the last quarter. Imprint Wealth LLC boosted its stake in AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares during the period. Finally, Dogwood Wealth Management LLC grew its holdings in AbbVie by 10.8% during the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock valued at $108,000 after buying an additional 46 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.8%

Shares of NYSE:ABBV opened at $245.82 on Friday. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $267.47. The stock has a market cap of $434.31 billion, a P/E ratio of 69.44, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. The business’s 50 day moving average is $241.96 and its 200 day moving average is $224.96.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.04. The business had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.AbbVie’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.07 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is presently 195.48%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Bank of America raised their price objective on AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Cantor Fitzgerald boosted their target price on AbbVie from $265.00 to $285.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Guggenheim upped their target price on AbbVie from $261.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $275.70.

About AbbVie

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.