AbbVie Inc. $ABBV Stock Sold by Bell Asset Management Ltd

Bell Asset Management Ltd cut its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 48.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,833 shares of the company's stock after selling 10,062 shares during the quarter. AbbVie makes up approximately 1.0% of Bell Asset Management Ltd's portfolio, making the stock its 23rd largest holding. Bell Asset Management Ltd's holdings in AbbVie were worth $2,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Burk Holdings LLC bought a new position in AbbVie in the 2nd quarter worth approximately $30,000. Abound Financial LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $32,000. Merkkuri Wealth Advisors LLC bought a new position in shares of AbbVie in the first quarter worth $34,000. Marquette Asset Management LLC grew its position in shares of AbbVie by 52.2% in the second quarter. Marquette Asset Management LLC now owns 140 shares of the company's stock valued at $35,000 after purchasing an additional 48 shares in the last quarter. Finally, Phillip James Consulting Co. bought a new stake in shares of AbbVie during the 4th quarter valued at $36,000. Institutional investors own 70.23% of the company's stock.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the transaction, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ABBV has been the subject of a number of recent analyst reports. Rothschild & Co Redburn lifted their target price on AbbVie from $284.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. HSBC upped their target price on shares of AbbVie from $300.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, September 10th. Erste Group Bank raised shares of AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley lifted their price target on AbbVie from $296.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $276.64.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: FDA breakthrough designations for Temab-A: The FDA granted two Breakthrough Therapy Designations to investigational telisotuzumab adizutecan (Temab-A/ABBV-400) for colorectal cancer and non-small cell lung cancer. The designations can accelerate development and regulatory review, while highlighting the potential of AbbVie’s antibody-drug conjugate portfolio. They do not, however, represent an approval or guarantee of commercial success. AbbVie Temab-A FDA Breakthrough Therapy Designations
• Positive Sentiment: Strong Phase 3 lymphoma data: AbbVie and Genmab reported that epcoritamab plus R-CHOP reduced the risk of disease progression or death by 51% versus R-CHOP alone in newly diagnosed diffuse large B-cell lymphoma. The result supports the potential for broader use of Epkinly/Epkinly and adds another meaningful pipeline catalyst. AbbVie and Genmab Epcoritamab Phase 3 Results
• Positive Sentiment: Higher analyst price targets: JPMorgan raised its AbbVie target to $300 from $285 and maintained an Overweight rating. Cantor Fitzgerald also raised its target, to $290 from $285, and reiterated Overweight. The revisions indicate analysts see additional upside based on AbbVie’s pipeline and growth outlook.
• Negative Sentiment: Dividend sustainability concerns: A report highlighted AbbVie’s roughly 190% payout ratio, meaning reported earnings are below the dividend distributed. While noncash charges and other accounting factors can distort this measure, the elevated ratio raises questions about long-term dividend coverage and could weigh on income-focused investors. AbbVie Dividend Payout Concerns

AbbVie Price Performance

NYSE:ABBV opened at $272.20 on Friday. The company has a market capitalization of $480.92 billion, a price-to-earnings ratio of 76.89, a PEG ratio of 1.23 and a beta of 0.24. The business has a 50 day moving average of $258.56 and a 200 day moving average of $236.35. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $274.94.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. The firm had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, sell-side analysts anticipate that AbbVie Inc. will post 14.01 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Thursday, October 15th. AbbVie's dividend payout ratio is currently 195.48%.

AbbVie Company Profile

AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women's health.

The company's products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.

AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.

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