Agate Pass Investment Management LLC Has $13.67 Million Stock Position in AbbVie Inc. $ABBV

Key Points

• Agate Pass Investment Management reduced its AbbVie stake by 19% in the second quarter, selling 12,745 shares. It still held 54,306 shares valued at approximately $13.67 million, representing about 5% of its portfolio.
• Analysts remain broadly bullish, with two Strong Buy and 18 Buy ratings. AbbVie has an average price target of $275.70, above its reported share price of $245.82.
• AbbVie exceeded quarterly expectations with earnings of $3.65 per share and revenue of $16.99 billion, while revenue grew 10.2% year over year. The company also declared a quarterly dividend of $1.73 per share, equivalent to a 2.8% annualized yield.

Agate Pass Investment Management LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 19.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 54,306 shares of the company's stock after selling 12,745 shares during the quarter. AbbVie accounts for about 5.0% of Agate Pass Investment Management LLC's investment portfolio, making the stock its 3rd biggest position. Agate Pass Investment Management LLC's holdings in AbbVie were worth $13,666,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Valeo Financial Advisors LLC raised its stake in shares of AbbVie by 5.4% in the second quarter. Valeo Financial Advisors LLC now owns 47,980 shares of the company's stock worth $12,074,000 after acquiring an additional 2,473 shares during the last quarter. Crumly & Associates Inc. increased its holdings in shares of AbbVie by 6.1% in the second quarter. Crumly & Associates Inc. now owns 2,825 shares of the company's stock valued at $711,000 after purchasing an additional 163 shares in the last quarter. Worth Asset Management LLC increased its holdings in shares of AbbVie by 14.6% in the second quarter. Worth Asset Management LLC now owns 1,863 shares of the company's stock valued at $469,000 after purchasing an additional 237 shares in the last quarter. MRA Advisory Group raised its position in AbbVie by 195.5% in the 2nd quarter. MRA Advisory Group now owns 7,883 shares of the company's stock worth $1,984,000 after purchasing an additional 5,215 shares during the last quarter. Finally, Gradient Investments LLC lifted its holdings in AbbVie by 5.0% during the 2nd quarter. Gradient Investments LLC now owns 77,648 shares of the company's stock worth $19,539,000 after buying an additional 3,721 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. DZ Bank upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Guggenheim upped their price target on AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. UBS Group lifted their price objective on AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Finally, BMO Capital Markets boosted their price objective on AbbVie from $258.00 to $300.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Two investment 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $275.70.

AbbVie Stock Up 0.8%

ABBV stock opened at $245.82 on Friday. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $267.47. The company 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 fifty day moving average is $241.96 and its 200-day moving average is $224.96.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts' consensus estimates of $3.61 by $0.04. The business had revenue of $16.99 billion during the quarter, compared to analysts' expectations of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Research analysts anticipate that AbbVie Inc. will post 14.07 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. 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%.

AbbVie Company Profile

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.

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