Maryland State Retirement & Pension System Cuts Stake in AbbVie Inc. (NYSE:ABBV)

Market Beat
2025.08.07 11:21
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Maryland State Retirement & Pension System reduced its stake in AbbVie Inc. (NYSE:ABBV) by 13.2% in Q1, now holding 82,955 shares valued at $17.38 million. Other hedge funds, including GAMMA Investing LLC and Goldman Sachs, increased their stakes significantly. AbbVie reported Q2 earnings of $2.97 per share, missing estimates, but revenue rose to $15.42 billion. The company announced a quarterly dividend of $1.64, with a yield of 3.3%. Analysts have mixed ratings, with target prices ranging from $204 to $255.

Maryland State Retirement & Pension System lessened its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 13.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,955 shares of the company's stock after selling 12,656 shares during the period. Maryland State Retirement & Pension System's holdings in AbbVie were worth $17,381,000 as of its most recent SEC filing.

  • AbbVie Stock Eyes Breakout as Pipeline and Profits Grow

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock valued at $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. Northern Trust Corp raised its holdings in AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after acquiring an additional 2,299,645 shares during the period. Deutsche Bank AG lifted its position in shares of AbbVie by 27.4% during the fourth quarter. Deutsche Bank AG now owns 9,769,102 shares of the company's stock worth $1,735,969,000 after acquiring an additional 2,102,273 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of AbbVie by 18.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company's stock valued at $2,142,832,000 after purchasing an additional 1,882,780 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Down 1.1%

ABBV opened at $196.37 on Thursday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.74. The stock's 50 day moving average price is $188.86 and its 200-day moving average price is $190.65. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The stock has a market cap of $346.90 billion, a price-to-earnings ratio of 93.51, a P/E/G ratio of 1.27 and a beta of 0.50.

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AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.65 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 312.38%.

Wall Street Analysts Forecast Growth

  • If You Wanted To Buy AbbVie and Didn’t, There’s Still Time To Buy

Several brokerages have commented on ABBV. Morgan Stanley raised their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Guggenheim upped their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Bank of America lifted their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $212.81.

Get Our Latest Stock Analysis on ABBV

About AbbVie

(Free Report)

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.

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