Convergence Investment Partners LLC Has $4.58 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Convergence Investment Partners cut its AbbVie stake by 27.5% in the fourth quarter, ending with 20,045 shares valued at about $4.58 million. AbbVie now represents roughly 0.9% of the firm’s portfolio.
• AbbVie reported better-than-expected Q1 earnings and revenue, with EPS of $2.65 versus $2.59 expected and revenue of $15 billion versus $14.72 billion forecast. Revenue rose 12.4% year over year.
• Analysts remain constructive on the stock, with multiple rating upgrades and a consensus “Moderate Buy” rating. The average price target is $253.43, above the recent share price of about $210.54.

Convergence Investment Partners LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 27.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,045 shares of the company's stock after selling 7,590 shares during the quarter. AbbVie accounts for approximately 0.9% of Convergence Investment Partners LLC's holdings, making the stock its 26th largest holding. Convergence Investment Partners LLC's holdings in AbbVie were worth $4,580,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ABBV. Brighton Jones LLC raised its stake in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after buying an additional 3,401 shares during the period. Revolve Wealth Partners LLC increased its holdings in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock worth $3,056,000 after purchasing an additional 789 shares in the last quarter. Ieq Capital LLC increased its holdings in AbbVie by 4.6% during the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock worth $22,281,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock worth $210,685,000 after purchasing an additional 612,702 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $210.54 on Friday. The stock has a market capitalization of $371.97 billion, a price-to-earnings ratio of 103.71, a PEG ratio of 0.73 and a beta of 0.32. The business has a 50-day moving average of $210.27 and a 200-day moving average of $220.10. AbbVie Inc. has a fifty-two week low of $180.25 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 14.32 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th were issued a $1.73 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $6.92 annualized dividend and a dividend yield of 3.3%. AbbVie's dividend payout ratio (DPR) is presently 340.89%.

Insider Activity

In other news, EVP Perry C. Siatis sold 22,381 shares of the firm's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value of $5,147,630.00. Following the completion of the transaction, the executive vice president owned 38,137 shares in the company, valued at $8,771,510. This trade represents a 36.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the transaction, the senior vice president owned 2,654 shares of the company's stock, valued at $619,868.24. The trade was a 66.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is owned by company insiders.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s Q1 results were supported by strong sales of Skyrizi and Rinvoq, which helped offset ongoing Humira declines and boosted the company’s 2026 guidance. Article: How Important Are Skyrizi and Rinvoq to AbbVie's Q1 Results?
• Positive Sentiment: Analysts have turned more optimistic on AbbVie’s earnings power, with Erste Group raising FY2027 EPS estimates and the company’s long-term pipeline still viewed favorably. Article: AbbVie analyst estimate update
• Positive Sentiment: Recent commentary highlighted AbbVie as a potentially better growth story than AstraZeneca because of its valuation, dividend profile, and pipeline strength. Article: Which Pharma Giant Offers Better Growth: AstraZeneca or AbbVie?

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. William Blair reiterated an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. Wall Street Zen upgraded AbbVie from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Morgan Stanley increased their target price on AbbVie from $270.00 to $278.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Evercore set a $235.00 target price on AbbVie in a report on Friday. Finally, DZ Bank upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $253.43.

AbbVie 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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