Summit Wealth Group LLC Co. Sells 7,049 Shares of AbbVie Inc. $ABBV

Key Points

• Summit Wealth Group cut its AbbVie stake by 83.5% in the fourth quarter, selling 7,049 shares and leaving it with 1,396 shares worth about $319,000.
• Analyst sentiment remains generally positive: AbbVie now has a Moderate Buy consensus rating, with a consensus price target of $252.90 despite some mixed target changes.
• AbbVie reported solid quarterly results, posting $2.65 EPS and $15 billion in revenue, both above expectations, while also announcing a quarterly dividend of $1.73 per share.

Summit Wealth Group LLC Co. lessened its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 83.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,396 shares of the company's stock after selling 7,049 shares during the period. Summit Wealth Group LLC Co.'s holdings in AbbVie were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Chelsea Counsel Co. bought a new position in shares of AbbVie in the 3rd quarter valued at about $26,000. Westend Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $29,000. Texas Capital Bancshares Inc TX bought a new position in shares of AbbVie in the 3rd quarter valued at about $31,000. Legacy Wealth Managment LLC ID lifted its holdings in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock valued at $31,000 after acquiring an additional 73 shares during the last quarter. Finally, WestEnd Advisors LLC lifted its holdings in shares of AbbVie by 160.4% in the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company's stock valued at $32,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ABBV shares. Citigroup lowered their price target on shares of AbbVie from $235.00 to $230.00 and set a "neutral" rating for the company in a report on Tuesday, January 27th. DZ Bank raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $240.00 price objective on shares of AbbVie in a research report on Thursday, April 30th. Barclays started coverage on shares of AbbVie in a research report on Thursday, February 19th. They issued an "overweight" rating and a $275.00 price objective on the stock. Finally, Royal Bank Of Canada started coverage on shares of AbbVie in a research report on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 price objective on the stock. Three investment 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.90.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: New immunology data and an upgraded 2026 earnings outlook are reinforcing confidence in AbbVie’s growth trajectory and valuation. A Look At AbbVie (ABBV) Valuation After New Immunology Data And Upgraded 2026 Earnings Outlook
• Positive Sentiment: Analyst commentary continues to lean constructive, with recent coverage highlighting AbbVie as an attractive long-term healthcare name and pointing to a higher price target from Evercore ISI. Why AbbVie Inc. (ABBV) is One of the Best Healthcare Stocks to Buy for the Long Term
• Positive Sentiment: Multiple recent articles argue AbbVie’s growth engine is “firing,” with bullish takes centered on its expanding drug portfolio and rising dividend, both supportive of investor sentiment. 3 Reasons to Buy AbbVie Stock (ABBV) Like There's No Tomorrow
• Neutral Sentiment: AbbVie appointed Kelly Sanderson Schrems as UK VP and General Manager, a routine leadership move that is unlikely to materially move the stock on its own. AbbVie Appoints Kelly Sanderson Schrems as UK VP and General Manager
• Neutral Sentiment: Shareholders backed directors and maintained the governance structure at the annual meeting, which removes uncertainty but is not a major new catalyst. AbbVie Shareholders Back Directors, Maintain Governance Structure
• Neutral Sentiment: Zacks and other commentary remain supportive, but this is mostly reinforcing existing optimism rather than introducing a major new catalyst. The Zacks Analyst Blog NVIDIA, Mastercard, AbbVie, Waterstone and Precipio

Insider Buying and Selling

In other news, EVP Perry C. Siatis sold 22,381 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the transaction, the executive vice president directly owned 38,137 shares of the company's stock, valued at approximately $8,771,510. This trade represents a 36.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David Ryan Purdue sold 5,230 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the transaction, the senior vice president directly owned 2,654 shares in the company, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.06% of the company's stock.

AbbVie Price Performance

AbbVie stock opened at $208.39 on Thursday. AbbVie Inc. has a 1-year low of $176.57 and a 1-year high of $244.81. The firm has a market capitalization of $368.17 billion, a P/E ratio of 102.65, a price-to-earnings-growth ratio of 0.72 and a beta of 0.32. The company's 50-day moving average is $211.23 and its 200 day moving average is $220.29.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 5.79% and a negative return on equity of 576.45%. The company's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.46 earnings per share. Research analysts anticipate that AbbVie Inc. will post 14.32 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.3%. AbbVie's dividend payout ratio (DPR) is 340.89%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.