Jackson Wealth Management LLC Has $1.03 Million Stake in AbbVie Inc. $ABBV

Key Points

• Jackson Wealth Management cut its AbbVie position by 91% in the second quarter, selling 41,606 shares and retaining 4,109 shares valued at approximately $1.03 million.
• Wall Street remains generally positive on AbbVie, with a consensus rating of “Moderate Buy” and an average price target of $275.95, above the reported share price of $248.75.
• AbbVie exceeded quarterly earnings and revenue expectations, reporting $3.65 in EPS and $16.99 billion in revenue, while maintaining a quarterly dividend of $1.73 per share, representing a 2.8% yield.

Jackson Wealth Management LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 91.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,109 shares of the company's stock after selling 41,606 shares during the quarter. Jackson Wealth Management LLC's holdings in AbbVie were worth $1,034,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Litman Gregory Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at about $28,000. Imprint Wealth LLC boosted its position in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock valued at $29,000 after purchasing an additional 45 shares in the last quarter. Burk Holdings LLC acquired a new stake in AbbVie during the second quarter worth approximately $30,000. IFC & Insurance Marketing Inc. bought a new stake in AbbVie in the fourth quarter worth approximately $31,000. Finally, Abound Financial LLC bought a new stake in AbbVie in the fourth quarter worth approximately $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABBV. UBS Group increased their price target on AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 5th. Guggenheim boosted their target price on shares of AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Wells Fargo & Company increased their target price on shares of AbbVie from $295.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, August 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of AbbVie from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $275.95.

AbbVie Stock Performance

Shares of AbbVie stock opened at $248.75 on Wednesday. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $267.47. The stock has a 50 day moving average price of $254.66 and a two-hundred day moving average price of $230.36. The stock has a market capitalization of $439.49 billion, a PE ratio of 70.27, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29.

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

AbbVie Announces Dividend

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

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's stock in a transaction on 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 transaction, the executive vice president directly owned 74,430 shares of the company's stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company's stock.

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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