River Road Asset Management LLC Reduces Stake in AbbVie Inc. $ABBV

Key Points

• River Road Asset Management reduced its AbbVie stake by 20.9% in the fourth quarter, selling 8,863 shares and leaving it with 33,588 shares valued at about $7.7 million.
• Institutional ownership in AbbVie remains strong overall, with hedge funds and other institutional investors holding 70.23% of the stock, even as some firms increased or trimmed positions.
• AbbVie continues to draw mixed Wall Street views, but analysts currently rate the stock Moderate Buy on average with a consensus price target of $253.43.

River Road Asset Management LLC cut its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 20.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,588 shares of the company's stock after selling 8,863 shares during the quarter. River Road Asset Management LLC's holdings in AbbVie were worth $7,675,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Thornburg Investment Management Inc. raised its holdings in shares of AbbVie by 25.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company's stock valued at $93,024,000 after buying an additional 81,625 shares during the period. Channing Capital Management LLC lifted its stake in AbbVie by 10.5% during the 3rd quarter. Channing Capital Management LLC now owns 55,647 shares of the company's stock worth $12,885,000 after acquiring an additional 5,302 shares in the last quarter. Procyon Advisors LLC boosted its holdings in AbbVie by 19.9% during the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company's stock valued at $7,484,000 after acquiring an additional 5,427 shares during the period. Woodley Farra Manion Portfolio Management Inc. boosted its holdings in AbbVie by 358.1% during the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 14,746 shares of the company's stock valued at $3,414,000 after acquiring an additional 11,527 shares during the period. Finally, Waycross Partners LLC grew its position in AbbVie by 2.9% in the 4th quarter. Waycross Partners LLC now owns 182,476 shares of the company's stock valued at $41,694,000 after acquiring an additional 5,063 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent research reports. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. William Blair reaffirmed an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. Royal Bank Of Canada began coverage on shares of AbbVie in a research note on Tuesday, February 24th. They set an "outperform" rating and a $260.00 target price on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of AbbVie in a report on Monday, June 8th. Finally, Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 7th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $253.43.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie is reportedly close to buying Apogee Therapeutics for about $10.9 billion, a move that could strengthen its eczema and inflammatory-disease pipeline and support longer-term growth. AbbVie nears $11 billion deal for Apogee Therapeutics, FT reports
• Positive Sentiment: AbbVie’s recent pipeline momentum, including SKINVIVE approval and promising CLL trial results, reinforces confidence in its R&D engine and diversification beyond core immunology drugs. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Neutral Sentiment: AbbVie announced a quarterly dividend of $1.73 per share, underscoring its strong cash generation and shareholder-return profile. AbbVie Declares Quarterly Dividend
• Neutral Sentiment: AbbVie is also highlighting its oncology strategy at ASCO 2026, but this is more of a long-term strategic update than an immediate stock catalyst. ASCO 2026: AbbVie on ADCs, chemotherapy, and the future of oncology
• Negative Sentiment: AbbVie’s shares had recently been under pressure as the market moved higher, reflecting some near-term investor caution before the acquisition news. AbbVie (ABBV) Stock Sinks As Market Gains: What You Should Know
• Negative Sentiment: AbbVie is facing ongoing litigation risk after HHS asked a court to dismiss its suit over drug-discount patients, which could create headline overhang. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

AbbVie Stock Performance

ABBV stock opened at $216.63 on Friday. The company's 50 day moving average price is $212.18 and its 200 day moving average price is $218.76. The firm has a market capitalization of $382.74 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 0.66 and a beta of 0.32. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The firm's quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie's payout ratio is 340.89%.

About AbbVie

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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