Oliver Luxxe Assets LLC Sells 2,145 Shares of AbbVie Inc. $ABBV

Oliver Luxxe Assets LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 31,485 shares of the company’s stock after selling 2,145 shares during the quarter. AbbVie accounts for approximately 1.2% of Oliver Luxxe Assets LLC’s holdings, making the stock its 26th biggest holding. Oliver Luxxe Assets LLC’s holdings in AbbVie were worth $7,923,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after purchasing an additional 3,032,438 shares during the last quarter. State Street Corp boosted its position in AbbVie by 1.4% during the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC grew its stake in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after purchasing an additional 4,190,487 shares during the last quarter. Bank of America Corp DE grew its stake in AbbVie by 1.4% in 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 purchasing an additional 356,394 shares during the last quarter. Finally, Norges Bank bought a new position in AbbVie in the fourth quarter worth about $5,865,055,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several analyst reports. Citigroup increased their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Bank of America boosted their price objective on shares of AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 5th. Canaccord Genuity Group lifted their price target on shares of AbbVie from $282.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, HSBC reaffirmed a “buy” rating and issued a $300.00 price target on shares of AbbVie in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $275.70.

AbbVie Stock Performance

Shares of ABBV stock opened at $245.82 on Friday. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $267.47. The firm has a market capitalization of $434.31 billion, a price-to-earnings ratio of 69.44, a PEG ratio of 0.82 and a beta of 0.30. The stock’s 50-day simple moving average is $241.96 and its 200-day simple moving average is $224.96.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, beating the consensus estimate of $3.61 by $0.04. The firm had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. AbbVie’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 14.07 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is currently 195.48%.

About AbbVie

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.