BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 59,257 Shares of AbbVie Inc. $ABBV

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 17.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 278,699 shares of the company’s stock after selling 59,257 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AbbVie were worth $51,732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FF Advisors LLC increased its position in AbbVie by 3.6% during the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after purchasing an additional 53 shares during the period. Landaas & Co. WI ADV lifted its position in shares of AbbVie by 1.1% in the 2nd quarter. Landaas & Co. WI ADV now owns 4,955 shares of the company’s stock worth $920,000 after purchasing an additional 53 shares during the period. Bernardo Wealth Planning LLC boosted its stake in shares of AbbVie by 2.9% during the second quarter. Bernardo Wealth Planning LLC now owns 1,909 shares of the company’s stock valued at $354,000 after purchasing an additional 53 shares in the last quarter. LifeSteps Financial Inc. increased its holdings in AbbVie by 0.7% during the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock valued at $1,366,000 after buying an additional 54 shares during the period. Finally, Silicon Valley Capital Partners raised its stake in AbbVie by 10.8% in the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after buying an additional 56 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

ABBV opened at $223.45 on Friday. The company has a market cap of $394.92 billion, a P/E ratio of 169.28, a price-to-earnings-growth ratio of 1.21 and a beta of 0.36. The company has a quick ratio of 0.60, a current ratio of 0.72 and a debt-to-equity ratio of 44.14. The firm’s 50-day moving average price is $227.25 and its 200-day moving average price is $209.59. AbbVie Inc. has a 52-week low of $164.39 and a 52-week high of $244.81.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.09. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. The company had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the previous year, the firm earned $3.00 EPS. AbbVie’s revenue was up 9.1% compared to the same quarter last year. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be given a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, January 16th. This is a positive change from AbbVie’s previous quarterly dividend of $1.64. AbbVie’s payout ratio is currently 496.97%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, October 8th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and lifted their target price for the company from $225.00 to $265.00 in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of AbbVie from $250.00 to $260.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Erste Group Bank lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $244.55.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.