Ancora Advisors LLC Reduces Stock Position in AbbVie Inc. $ABBV

Ancora Advisors LLC lessened its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 300,556 shares of the company's stock after selling 17,018 shares during the period. AbbVie accounts for 1.5% of Ancora Advisors LLC's investment portfolio, making the stock its 12th biggest position. Ancora Advisors LLC's holdings in AbbVie were worth $75,632,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ranch Capital Advisors Inc. boosted its holdings in shares of AbbVie by 37.0% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock valued at $3,238,000 after buying an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK grew its position in shares of AbbVie by 11.2% in the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company's stock worth $112,516,000 after buying an additional 45,132 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new position in shares of AbbVie in the 2nd quarter worth about $23,557,000. Wedge Capital Management L L P NC lifted its position in AbbVie by 7.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company's stock valued at $33,865,000 after acquiring an additional 9,380 shares during the period. Finally, Mission Wealth Management LP lifted its position in AbbVie by 119.1% during the 2nd quarter. Mission Wealth Management LP now owns 69,052 shares of the company's stock valued at $17,376,000 after acquiring an additional 37,531 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price objective on shares of AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Evercore set a $235.00 target price on AbbVie in a research note on Friday, May 15th. Wells Fargo & Company boosted their price objective on shares of AbbVie from $295.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Bank of America reaffirmed a "buy" rating on shares of AbbVie in a research report on Tuesday. Finally, Weiss Ratings upgraded AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $275.95.

Insider Activity at AbbVie

In other 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 value of $8,177,500.00. Following the sale, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. The trade was a 30.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by insiders.

AbbVie Stock Down 3.0%

AbbVie stock opened at $248.75 on Wednesday. The business has a 50-day simple moving average of $254.66 and a two-hundred day simple moving average of $230.36. The company has a market cap of $439.49 billion, a P/E ratio of 70.27, a P/E/G ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $267.47.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts' consensus estimates of $3.61 by $0.04. The company had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Research analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 195.48%.

About AbbVie

AbbVie Inc NYSE: ABBV is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott's diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie's immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.

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