Patton Fund Management Inc. Cuts Holdings in AbbVie Inc. $ABBV

Key Points

• Patton Fund Management cut its AbbVie stake by 55.8% in the first quarter, selling 6,009 shares and leaving it with 4,759 shares worth about $1.035 million.
• AbbVie continues to get positive attention from key business developments, including FDA approval of Skyrizi for pediatric use and a favorable analyst view of its Apogee Therapeutics acquisition as a long-term growth driver.
• The company also reported solid recent results, with Q1 EPS of $2.65 beating estimates and revenue of $15 billion topping expectations, while analysts currently rate the stock a Moderate Buy with a consensus price target of $253.81.

Patton Fund Management Inc. decreased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 55.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,759 shares of the company's stock after selling 6,009 shares during the period. Patton Fund Management Inc.'s holdings in AbbVie were worth $1,035,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of Jackson Hole Trust increased its stake in AbbVie by 0.6% in the fourth quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company's stock valued at $1,648,000 after acquiring an additional 44 shares during the last quarter. Eclectic Associates Inc. ADV lifted its stake in AbbVie by 0.8% during the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company's stock worth $1,337,000 after purchasing an additional 45 shares during the last quarter. Imprint Wealth LLC lifted its stake in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after purchasing an additional 45 shares during the last quarter. Hardin Capital Partners LLC boosted its holdings in shares of AbbVie by 1.4% in the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company's stock worth $759,000 after purchasing an additional 46 shares in the last quarter. Finally, Dogwood Wealth Management LLC increased its position in shares of AbbVie by 10.8% during the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company's stock valued at $108,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie said the FDA approved Skyrizi for pediatric use in psoriatic disease, making it the first and only IL-23 inhibitor in the U.S. approved for children six years and older weighing less than 40 kg with plaque psoriasis or psoriatic arthritis. The expansion broadens the drug’s addressable market and supports long-term sales growth. Article: SKYRIZI® (risankizumab-rzaa) Now FDA Approved for Pediatric Use in Psoriatic Disease
• Positive Sentiment: AbbVie’s Apogee Therapeutics acquisition is being viewed favorably by analysts, with Canaccord raising its price target and saying the deal strengthens AbbVie’s long-term growth outlook by adding promising pipeline assets. Article: AbbVie Just Sparked a 46% Rally in Apogee. Here’s Why This $10.9 Billion Deal Could Be a Win for AbbVie Investors.
• Positive Sentiment: AbbVie is also benefiting from broader healthcare sector strength, with shares hitting new highs as investors rotate into defensive large-cap pharma names. Article: Lilly, J&J, AbbVie hit all-time highs as healthcare outperforms
• Neutral Sentiment: AbbVie announced it will host its second-quarter 2026 earnings call on July 31, which is a standard investor update and does not by itself change fundamentals. Article: AbbVie to Host Second-Quarter 2026 Earnings Conference Call
• Neutral Sentiment: Commentary pieces also highlighted AbbVie’s recent pediatric label expansions in Europe for Skyrizi and Maviret, reinforcing the company’s shift toward earlier-disease and younger-patient growth opportunities. Article: Will AbbVie's (ABBV) Pediatric Expansions Reveal a Deeper Shift in Its Growth Mix?

AbbVie Trading Down 0.7%

ABBV opened at $251.52 on Monday. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $253.35. The business's 50-day moving average price is $215.16 and its 200-day moving average price is $219.16. The company has a market cap of $444.38 billion, a P/E ratio of 123.90, a P/E/G ratio of 0.77 and a beta of 0.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results 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. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.72 billion. During the same period in the prior year, the business posted $2.46 EPS. AbbVie's quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie's dividend payout ratio is 340.89%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Piper Sandler reissued an "overweight" rating and set a $298.00 price objective on shares of AbbVie in a report on Tuesday, June 23rd. Bank of America raised AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 target price for the company in a research note on Thursday, April 30th. Guggenheim reiterated a "buy" rating and set a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. Weiss Ratings reissued a "hold (c)" rating on shares of AbbVie in a research note on Monday, June 8th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of AbbVie in a report on Tuesday, June 23rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $253.81.

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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