Forum Financial Management LP Cuts Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Forum Financial Management LP cut its AbbVie stake by 25.9% in the first quarter, selling 18,842 shares and leaving it with 53,784 shares valued at about $11.7 million.
• Wall Street sentiment remains constructive: analysts currently rate AbbVie a Moderate Buy with a consensus price target of $253.81, while several firms recently reiterated buy/overweight ratings and raised targets.
• AbbVie continues to show operational momentum, with its latest quarter beating expectations on earnings and revenue; the company also announced a quarterly dividend of $1.73 per share payable Aug. 14.

Forum Financial Management LP trimmed its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,784 shares of the company's stock after selling 18,842 shares during the period. Forum Financial Management LP's holdings in AbbVie were worth $11,697,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of Jackson Hole Trust increased its holdings in shares of AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company's stock worth $1,648,000 after buying an additional 44 shares during the last quarter. Eclectic Associates Inc. ADV raised its position in shares of AbbVie by 0.8% during the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company's stock valued at $1,337,000 after buying an additional 45 shares in the last quarter. Imprint Wealth LLC lifted its holdings in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after acquiring an additional 45 shares during the last quarter. Hardin Capital Partners LLC grew its position in AbbVie by 1.4% in the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company's stock worth $759,000 after acquiring an additional 46 shares in the last quarter. Finally, Dogwood Wealth Management LLC grew its position in AbbVie by 10.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company's stock worth $108,000 after acquiring an additional 46 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Guggenheim restated a "buy" rating and set a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of AbbVie in a report on Monday, June 8th. Morgan Stanley increased their price objective on AbbVie from $270.00 to $278.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Piper Sandler restated an "overweight" rating and issued a $298.00 target price on shares of AbbVie in a research report on Tuesday, June 23rd. Finally, Canaccord Genuity Group upped their target price on AbbVie from $265.00 to $273.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.81.

AbbVie Trading Up 0.2%

NYSE ABBV opened at $253.86 on Tuesday. AbbVie Inc. has a 1-year low of $181.75 and a 1-year high of $255.99. The stock has a 50-day moving average of $216.06 and a 200-day moving average of $219.38. The firm has a market cap of $448.52 billion, a PE ratio of 125.06, a price-to-earnings-growth ratio of 0.77 and a beta of 0.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $2.46 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie's dividend payout ratio (DPR) is currently 340.89%.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reported positive Phase 3 results for epcoritamab plus lenalidomide in relapsed/refractory diffuse large B-cell lymphoma, with the trial meeting its primary endpoint and showing a clinically meaningful improvement in progression-free survival. Article Title
• Positive Sentiment: The European Medicines Agency CHMP issued positive opinions for Rinvoq (upadacitinib) in severe alopecia areata and non-segmental vitiligo, increasing the odds of future EU approvals and expanding AbbVie’s dermatology franchise. Article Title
• Positive Sentiment: The FDA approved Skyrizi for pediatric psoriasis, broadening the drug’s label and supporting further sales growth in AbbVie’s immunology business. Article Title
• Positive Sentiment: AbbVie also received a $100 million milestone-related payment tied to REGENXBIO’s diabetic retinopathy program, signaling continued progress in partnered ophthalmology assets. Article Title
• Neutral Sentiment: AbbVie is set to trade ex-dividend on July 15, which may attract income-focused investors but is generally a routine calendar event rather than a new catalyst. Article Title
• Neutral Sentiment: Recent commentary noted AbbVie’s shares have hit new 52-week highs and have been supported by strong earnings revisions, but this is more a reflection of recent momentum than a fresh company-specific event. Article Title

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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