AbbVie Inc. $ABBV is Alley Investment Management Company LLC's 5th Largest Position

Key Points

• Alley Investment Management reduced its AbbVie stake by 4.2% in the second quarter, but the company remains its fifth-largest holding at 3.2% of the portfolio, valued at approximately $27.1 million.
• Institutional investors own 70.23% of AbbVie, while analysts maintain a generally positive outlook: the stock has a consensus “Moderate Buy” rating and an average price target of $275.95.
• AbbVie exceeded quarterly earnings and revenue expectations, reporting $3.65 in adjusted EPS and $16.99 billion in revenue. The company also paid a quarterly dividend of $1.73 per share, equal to a 2.8% annualized yield.

Alley Investment Management Company LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,568 shares of the company's stock after selling 4,711 shares during the period. AbbVie comprises 3.2% of Alley Investment Management Company LLC's portfolio, making the stock its 5th largest holding. Alley Investment Management Company LLC's holdings in AbbVie were worth $27,068,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of AbbVie during the 4th quarter valued at $5,865,055,000. Corient Private Wealth LP bought a new stake in shares of AbbVie in the second quarter worth $559,736,000. Legal & General Group Plc purchased a new stake in AbbVie during the second quarter valued at $2,905,952,000. Wellington Management Group LLP increased its position in AbbVie by 457.4% during the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock valued at $2,439,714,000 after acquiring an additional 8,646,424 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of AbbVie by 106.3% during the 4th quarter. Capital World Investors now owns 13,071,444 shares of the company's stock valued at $2,986,777,000 after purchasing an additional 6,736,161 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ABBV shares. Barclays increased their price objective on shares of AbbVie from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Wolfe Research raised shares of AbbVie from a "peer perform" rating to an "outperform" rating and set a $300.00 target price for the company in a report on Thursday, August 13th. Citigroup increased their price target on shares of AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. HSBC reissued a "buy" rating and set a $300.00 price objective on shares of AbbVie in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their price objective on AbbVie from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $275.95.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the sale, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

AbbVie Stock Performance

ABBV opened at $251.04 on Thursday. The stock has a market cap of $443.53 billion, a price-to-earnings ratio of 70.92, a price-to-earnings-growth ratio of 1.13 and a beta of 0.29. The firm's fifty day moving average is $254.66 and its 200 day moving average is $230.55. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $267.47.

AbbVie (NYSE:ABBV - Get Free Report) 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 business had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The business's revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, equities research analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

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

AbbVie Profile

AbbVie Inc NYSE: ABBV is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott's diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie's immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.

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