Abundance Wealth Counselors Boosts Holdings in AbbVie Inc. $ABBV

Key Points

• Abundance Wealth Counselors nearly doubled its AbbVie stake in the second quarter, increasing holdings by 95.4% to 30,368 shares valued at approximately $7.64 million. Institutional investors collectively own 70.23% of AbbVie.
• AbbVie reported quarterly earnings of $3.65 per share, topping estimates of $3.61, while revenue rose 10.2% year over year to $16.99 billion. The company issued third-quarter EPS guidance of $3.84–$3.88.
• Analysts maintain a generally positive outlook, with AbbVie carrying a consensus “Moderate Buy” rating and an average price target of $275.73. The company also pays a quarterly dividend of $1.73 per share, equivalent to a 2.8% annual yield.

Abundance Wealth Counselors grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 95.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,368 shares of the company's stock after purchasing an additional 14,824 shares during the period. AbbVie makes up 0.8% of Abundance Wealth Counselors' investment portfolio, making the stock its 11th largest holding. Abundance Wealth Counselors' holdings in AbbVie were worth $7,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. Vanguard Group Inc. grew its holdings in AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company's stock worth $41,306,353,000 after purchasing an additional 3,032,438 shares during the period. State Street Corp lifted its holdings in shares of AbbVie by 1.4% during the fourth quarter. State Street Corp now owns 80,940,931 shares of the company's stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares in the last quarter. Bank of America Corp DE boosted its position 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 purchasing an additional 356,394 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AbbVie in the 4th quarter worth approximately $5,865,055,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

ABBV stock opened at $250.53 on Tuesday. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $267.47. The business has a fifty day moving average price of $245.49 and a 200-day moving average price of $226.35. The stock has a market capitalization of $442.63 billion, a P/E ratio of 70.77, a P/E/G ratio of 0.83 and a beta of 0.30.

AbbVie (NYSE:ABBV - Get Free Report) last released 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. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. During the same period last year, the firm posted $2.97 earnings per share. AbbVie's revenue was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, analysts anticipate that AbbVie Inc. will post 14.07 earnings per share for the current year.

AbbVie Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on AbbVie from $258.00 to $300.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 5th. HSBC restated a "buy" rating and set a $300.00 price target on shares of AbbVie in a report on Monday, July 6th. DZ Bank raised AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, Erste Group Bank upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $275.73.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

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