Picton Mahoney Asset Management Has $14.26 Million Stake in AbbVie Inc. $ABBV

Picton Mahoney Asset Management lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1,280,133.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 76,814 shares of the company’s stock after buying an additional 76,808 shares during the period. Picton Mahoney Asset Management’s holdings in AbbVie were worth $14,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Conning Inc. increased its holdings in shares of AbbVie by 7.1% during the 2nd quarter. Conning Inc. now owns 191,023 shares of the company’s stock worth $35,458,000 after acquiring an additional 12,690 shares during the last quarter. Dohj LLC raised its position in shares of AbbVie by 41.8% in the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after purchasing an additional 1,335 shares during the period. First Hawaiian Bank lifted its stake in shares of AbbVie by 0.8% during the 2nd quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock worth $1,403,000 after buying an additional 60 shares during the last quarter. BankPlus Trust Department grew its stake in AbbVie by 3.3% in the 2nd quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock valued at $5,033,000 after buying an additional 855 shares during the last quarter. Finally, North Star Asset Management Inc. lifted its position in AbbVie by 0.5% during the first quarter. North Star Asset Management Inc. now owns 161,320 shares of the company’s stock worth $33,800,000 after acquiring an additional 756 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 2.9%

ABBV opened at $236.12 on Monday. The stock has a market capitalization of $417.31 billion, a price-to-earnings ratio of 112.44, a P/E/G ratio of 1.42 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a twelve month low of $164.39 and a twelve month high of $244.81. The company has a 50-day simple moving average of $226.81 and a 200 day simple moving average of $205.47.

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

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 16th will be paid a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, January 16th. This is a positive change from AbbVie’s previous quarterly dividend of $1.64. AbbVie’s dividend payout ratio is 524.24%.

Analysts Set New Price Targets

Several analysts recently issued reports on ABBV shares. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a research note on Thursday, August 7th. Wells Fargo & Company boosted their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. BMO Capital Markets lifted their price objective on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Finally, Morgan Stanley boosted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.85.

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.