Golden State Wealth Management LLC Acquires 503 Shares of AbbVie Inc. $ABBV

Golden State Wealth Management LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 23.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,627 shares of the company’s stock after buying an additional 503 shares during the period. Golden State Wealth Management LLC’s holdings in AbbVie were worth $488,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ABBV. Nuveen LLC bought a new position in AbbVie during the first quarter worth $1,819,154,000. Assenagon Asset Management S.A. lifted its stake in shares of AbbVie by 550.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock worth $804,116,000 after buying an additional 3,666,521 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after buying an additional 3,519,187 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in AbbVie in the 2nd quarter valued at about $581,817,000. Finally, Invesco Ltd. raised its holdings in AbbVie by 17.5% in the 1st quarter. Invesco Ltd. now owns 8,367,049 shares of the company’s stock valued at $1,753,064,000 after acquiring an additional 1,246,863 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $289.00 target price (up previously from $284.00) on shares of AbbVie in a research note on Wednesday. Evercore ISI boosted their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a report on Thursday, August 7th. Finally, Raymond James Financial set a $256.00 target price on AbbVie in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $238.05.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $219.13 on Friday. The firm has a market cap of $387.11 billion, a PE ratio of 104.35, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The stock’s fifty day moving average price is $223.06 and its two-hundred day moving average price is $201.96. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.09. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the prior year, the firm posted $3.00 EPS. AbbVie’s quarterly revenue was up 9.1% on a year-over-year basis. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 16th will be issued a dividend of $1.73 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, January 16th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.2%. AbbVie’s payout ratio is currently 524.24%.

AbbVie Company Profile

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.