AbbVie Inc. $ABBV Shares Purchased by PYA Waltman Capital LLC

Key Points

• PYA Waltman Capital increased its AbbVie stake by 36% in the second quarter, bringing its holdings to 28,844 shares valued at approximately $7.26 million. Institutional investors and hedge funds collectively own 70.23% of AbbVie.
• AbbVie exceeded quarterly expectations, reporting $3.65 in EPS and $16.99 billion in revenue, up 10.2% year over year. The company guided for third-quarter EPS of $3.84–$3.88.
• Analysts maintain a generally positive outlook, with AbbVie carrying a “Moderate Buy” consensus rating and a $275.95 average price target. The company also pays a quarterly dividend of $1.73, yielding about 2.8% annually.

PYA Waltman Capital LLC raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 36.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,844 shares of the company's stock after acquiring an additional 7,641 shares during the period. AbbVie accounts for about 1.8% of PYA Waltman Capital LLC's investment portfolio, making the stock its 13th biggest holding. PYA Waltman Capital LLC's holdings in AbbVie were worth $7,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp grew its stake in AbbVie by 1.4% during the 4th quarter. State Street Corp now owns 80,940,931 shares of the company's stock worth $18,494,193,000 after buying an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock worth $10,179,099,000 after acquiring an additional 4,190,487 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of AbbVie by 1.4% in the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company's stock worth $5,900,617,000 after acquiring an additional 356,394 shares during the period. Norges Bank bought a new stake in AbbVie in the 4th quarter valued at about $5,865,055,000. Finally, Capital Research Global Investors boosted its stake in AbbVie by 0.7% during the 4th quarter. Capital Research Global Investors now owns 25,408,200 shares of the company's stock valued at $5,805,530,000 after purchasing an additional 177,370 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.9%

Shares of NYSE:ABBV opened at $251.04 on Thursday. The company has a 50 day moving average of $254.66 and a 200-day moving average of $230.55. The firm has a market cap of $443.53 billion, a P/E ratio of 70.92, a P/E/G ratio of 1.13 and a beta of 0.29. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $267.47.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, beating analysts' consensus estimates of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The business had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter last year, the business earned $2.97 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Equities research analysts forecast that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Dividend Announcement

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

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the company's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the sale, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ABBV shares. JPMorgan Chase & Co. raised their price target on shares of AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. BNP Paribas Exane increased their price objective on AbbVie from $218.00 to $247.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Weiss Ratings raised AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. Evercore set a $235.00 price target on AbbVie in a research report on Friday, May 15th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of AbbVie in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $275.95.

AbbVie Company 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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