Meridian Wealth Management LLC Reduces Stock Holdings in AbbVie Inc. $ABBV

Meridian Wealth Management LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 1.4% during the second quarter, Holdings Channel.com reports. The fund owned 76,766 shares of the company’s stock after selling 1,053 shares during the period. AbbVie accounts for 0.6% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 29th largest holding. Meridian Wealth Management LLC’s holdings in AbbVie were worth $14,249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Marshall & Sullivan Inc. WA purchased a new stake in AbbVie in the 2nd quarter valued at approximately $25,000. TD Capital Management LLC raised its holdings in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Spurstone Advisory Services LLC purchased a new stake in shares of AbbVie in the second quarter valued at $28,000. Cypress Capital Management LLC WY purchased a new stake in AbbVie during the 1st quarter worth about $35,000. Finally, Bear Mountain Capital Inc. raised its stake in AbbVie by 480.6% in the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald set a $250.00 price target on shares of AbbVie and gave the stock an “overweight” rating in a report on Thursday, October 9th. Evercore ISI lifted their target price on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Scotiabank started coverage on AbbVie in a research note on Thursday. They set a “sector outperform” rating and a $280.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $289.00 price objective (up previously from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Finally, HSBC set a $225.00 target price on AbbVie in a research report on Thursday, October 2nd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.14.

AbbVie Stock Performance

NYSE ABBV opened at $232.43 on Friday. The business’s 50-day simple moving average is $224.89 and its 200-day simple moving average is $203.90. The firm has a market capitalization of $410.79 billion, a P/E ratio of 110.68, a P/E/G ratio of 1.42 and a beta of 0.50. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.78 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the previous year, the firm earned $3.00 earnings per share. AbbVie’s revenue for the quarter was up 9.1% on a year-over-year basis. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, January 16th. AbbVie’s payout ratio is 524.24%.

AbbVie 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.