AbbVie Inc.

New York Stock Exchange
Back to all articles
Bullish +55

AbbVie Inc. $ABBV Holdings Decreased by Burney Co.

📉 Burney Co. reduced its AbbVie holdings by 28.6% in Q1, selling 17,320 shares while retaining a $9.42 million stake.

📈 Multiple other institutions including Chelsea Counsel Co., Litman Gregory Wealth Management LLC, and Imprint Wealth LLC added new or increased stakes in Q4.

💰 AbbVie declared a quarterly dividend of $1.73 per share with an ex-dividend date of July 15th and a yield of 2.7%.

📊 The stock trades at $254.77 with a market cap of $450.13 billion and a PE ratio of 125.50.

🎯 Piper Sandler maintains an overweight rating with a price target of $298.00, while Morgan Stanley raised its target to $278.00.

🏥 AbbVie operates across five major therapeutic areas including immunology, oncology, neuroscience, virology, and women's health.

📉 The stock has a 50-day moving average of $221.27 and a 200-day moving average of $220.47.

🏛️ Institutional investors own 70.23% of the company's outstanding shares.

Bullish Signals
  • Multiple institutional investors including Chelsea Counsel Co., Litman Gregory Wealth Management LLC, Imprint Wealth LLC, Westend Capital Management LLC, and IFC & Insurance Marketing Inc. increased or initiated positions in Q4.
  • Piper Sandler reiterated an overweight rating with a price objective of $298.00, significantly above the current trading price.
  • Morgan Stanley upgraded its target price to $278.00 and DZ Bank upgraded its rating to strong-buy.
  • The company maintains a high dividend yield of 2.7% with a payout ratio of 340.89%, indicating a commitment to shareholder returns.
  • Institutional ownership stands at 70.23%, suggesting continued confidence from large capital managers.
Risk Factors
  • Burney Co. significantly reduced its position by 28.6% in the first quarter, selling 17,320 shares.
  • Wall Street Zen downgraded the stock from a strong-buy rating to a buy rating.
  • The payout ratio of 340.89% exceeds 100%, indicating dividends are being paid from capital or reserves rather than current earnings.
Full Analysis
Burney Co. reduced its position in AbbVie Inc. (NYSE: ABBV) by 28.6% during the first quarter, selling 17,320 shares and retaining a stake worth $9.42 million. While Burney decreased its holdings, several other institutional investors increased their positions in the fourth quarter, including Chelsea Counsel Co., Litman Gregory Wealth Management LLC, Imprint Wealth LLC, Westend Capital Management LLC, and IFC & Insurance Marketing Inc., with stakes ranging from approximately $26,000 to $31,000. AbbVie stock is currently trading at $254.77, maintaining a market capitalization of $450.13 billion and a PE ratio of 125.50. The company recently announced a quarterly dividend of $1.73 per share payable on August 14th to shareholders of record on July 15th, resulting in an annualized dividend yield of 2.7% and a payout ratio of 340.89%. Analyst consensus remains moderately bullish with an average target price of $256.67. Wall Street analysts have recently issued mixed but generally positive ratings on the stock. Piper Sandler reiterated an overweight rating with a $298.00 price objective, while Morgan Stanley and DZ Bank upgraded their targets or ratings to overweight and strong-buy respectively. The company maintains a diverse product portfolio across immunology, oncology, neuroscience, virology, and women's health, supported by 70.23% institutional ownership.