Opinicus Capital Inc. has expanded its stake in AbbVie Inc. (NYSE: ABBV) by acquiring an additional 769 shares, raising its holdings by **8.1%** during the second quarter of 2023. This increase brings Opinicus Capital’s total shares in AbbVie to **10,238**, making the pharmaceutical company approximately **1.4%** of its investment portfolio, positioning it as the firm’s **17th largest investment**. As of the latest filing with the Securities and Exchange Commission, these holdings are valued at around **$1.9 million**.
Other institutional investors have also adjusted their positions in AbbVie recently. **FF Advisors LLC** increased its holdings by **3.6%**, acquiring an additional **53 shares** to reach a total of **1,539 shares** valued at **$286,000**. Similarly, **Private Management Group Inc.** raised its stake by **1.9%**, now owning **2,938 shares** worth **$616,000** after purchasing **54 additional shares**. **LifeSteps Financial Inc.** and **Silicon Valley Capital Partners** also expanded their positions in AbbVie, further highlighting the growing interest among institutional investors in the pharmaceutical sector.
According to market data, institutional investors collectively own **70.23%** of AbbVie stock, reflecting strong confidence in the company’s performance.
Analyst Ratings and Stock Performance
Equities analysts have recently expressed optimistic views on AbbVie. **Scotiabank** initiated coverage with a “sector outperform” rating and set a target price of **$280.00**. **Morgan Stanley** adjusted its price objective for AbbVie from **$250.00** to **$255.00**, maintaining an “overweight” rating. In contrast, **Erste Group Bank** downgraded AbbVie from a “buy” to a “hold” rating, while **Evercore ISI** raised its price target from **$207.00** to **$222.00**, also giving an “outperform” rating.
Currently, AbbVie stock has garnered three “Strong Buy” ratings, fourteen “Buy” ratings, and ten “Hold” ratings, resulting in an average consensus rating of “Moderate Buy” with a target price of **$240.14**.
As of the market opening on **October 31, 2023**, AbbVie shares were trading at **$232.43**. The company boasts a market capitalization of **$410.79 billion**, with a price-to-earnings ratio of **110.68** and a PEG ratio of **1.42**. Over the past year, AbbVie shares have fluctuated between a low of **$163.81** and a high of **$244.81**.
Recent Earnings and Dividend Announcement
AbbVie recently reported its earnings for the third quarter, revealing earnings per share (EPS) of **$1.86**, surpassing analysts’ expectations of **$1.77** by **$0.09**. The company’s revenue for the quarter reached **$15.78 billion**, exceeding the forecast of **$15.58 billion** and reflecting a **9.1% year-over-year increase**. AbbVie had previously posted an EPS of **$3.00** in the same quarter last year. The company has projected a Q4 2025 EPS guidance of between **$3.320** and **$3.360**.
In a notable update for investors, AbbVie declared a quarterly dividend of **$1.73** per share, scheduled for payment on **February 17, 2024**. Shareholders on record by **January 16, 2024**, will be eligible for this dividend, which marks an increase from the previous quarterly dividend of **$1.64**. The company’s dividend payout ratio is currently at **524.24%**, indicating a strong commitment to returning value to shareholders.
About AbbVie
AbbVie Inc. is a global biopharmaceutical company engaged in discovering, developing, manufacturing, and selling a wide range of pharmaceuticals. Its portfolio includes well-known treatments such as **Humira**, used for various autoimmune diseases, and **Skyrizi**, aimed at treating moderate to severe plaque psoriasis. AbbVie also offers several other medications targeting conditions like rheumatoid arthritis, blood cancers, and lymphoma.
This recent activity in AbbVie shares, combined with positive earnings results and a consistent dividend policy, underscores the company’s robust position within the biopharmaceutical sector and highlights the sustained interest from institutional investors.
