Waycross Partners LLC Has $36.09 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Waycross Partners LLC cut its AbbVie stake by 9.1% in the first quarter, but still held 165,943 shares worth about $36.1 million, making AbbVie its 10th-largest position.
• AbbVie posted better-than-expected Q1 results, with EPS of $2.65 versus $2.59 expected and revenue of $15 billion, up 12.4% from a year earlier.
• The company also declared a quarterly dividend of $1.73 per share, equal to a $6.92 annualized payout and a 2.7% yield, while analysts maintain a Moderate Buy consensus with an average price target of $267.67.

Waycross Partners LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 165,943 shares of the company's stock after selling 16,533 shares during the quarter. AbbVie accounts for about 3.4% of Waycross Partners LLC's investment portfolio, making the stock its 10th largest position. Waycross Partners LLC's holdings in AbbVie were worth $36,091,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. grew its stake in shares of AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company's stock worth $41,306,353,000 after acquiring an additional 3,032,438 shares during the last quarter. State Street Corp grew its position in AbbVie by 1.4% in the 4th quarter. State Street Corp now owns 80,940,931 shares of the company's stock worth $18,494,193,000 after purchasing an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC grew its position in AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the last quarter. Bank of America Corp DE raised its position in shares of AbbVie by 1.4% during the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company's stock valued at $5,900,617,000 after buying an additional 356,394 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AbbVie in the fourth quarter valued at about $5,865,055,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 0.0%

Shares of AbbVie stock opened at $254.53 on Monday. The business's 50 day moving average is $229.80 and its 200-day moving average is $221.87. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64. The stock has a market cap of $449.70 billion, a P/E ratio of 125.38, a P/E/G ratio of 0.84 and a beta of 0.30.

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 the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 14.18 EPS for the current year.

AbbVie Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler restated an "overweight" rating and set a $298.00 price target on shares of AbbVie in a research note on Tuesday, June 23rd. Citigroup boosted their price objective on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research report on Wednesday. Guggenheim raised their target price on AbbVie from $249.00 to $261.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. HSBC reiterated a "buy" rating and issued a $300.00 price objective on shares of AbbVie in a research note on Monday, July 6th. Finally, Canaccord Genuity Group raised their price objective on shares of AbbVie from $265.00 to $273.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $267.67.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s Allergan Aesthetics unit won European Commission approval for Boey® (trenibotulinumtoxinE), a new facial injectable for glabellar lines. The approval gives AbbVie a differentiated aesthetics product in all 30 EEA countries and could add another growth driver to offset Humira-related declines. Article Title
• Positive Sentiment: Investors are also focusing on AbbVie’s neuroscience franchise and other newer product catalysts, with analysts expecting solid Q2 growth and continued momentum from brands such as Vyalev, RINVOQ, and SKYRIZI ahead of earnings. Article Title
• Positive Sentiment: Brokerage sentiment remains constructive, with recent coverage showing a “Moderate Buy” consensus and multiple price-target increases in July, reinforcing confidence in AbbVie’s long-term pipeline and earnings outlook. Article Title
• Neutral Sentiment: Erste Group slightly lowered its FY2026 EPS estimate for AbbVie to $14.08 from $14.23, though the new estimate remains close to the consensus of $14.18 and is not a major deviation. 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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