Alta Advisers Ltd purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,765 shares of the company's stock, valued at approximately $1,702,000. AbbVie accounts for approximately 0.4% of Alta Advisers Ltd's portfolio, making the stock its 28th biggest position.
A number of other hedge funds also recently modified their holdings of ABBV. Daiichi Life Insurance Co. Ltd. bought a new stake in shares of AbbVie during the 2nd quarter valued at about $28,578,000. Foyston Gordon & Payne Inc acquired a new position in AbbVie in the second quarter valued at approximately $3,070,000. Commerce Bank acquired a new position in AbbVie in the second quarter valued at approximately $134,612,000. GQG Partners LLC bought a new position in shares of AbbVie during the 2nd quarter worth approximately $483,560,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of AbbVie during the 2nd quarter worth approximately $67,613,000. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Stock Performance
ABBV stock opened at $261.50 on Thursday. The business has a 50-day simple moving average of $254.23 and a two-hundred day simple moving average of $229.67. The company has a market capitalization of $462.02 billion, a P/E ratio of 73.87, a price-to-earnings-growth ratio of 1.18 and a beta of 0.29. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $267.47.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. The firm had revenue of $16.99 billion during 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 company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 195.48%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on ABBV. UBS Group lifted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Canaccord Genuity Group raised their price target on shares of AbbVie from $282.00 to $290.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. BNP Paribas Exane lifted their price target on shares of AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Finally, Erste Group Bank raised shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Wednesday, August 5th. Two investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $275.95.
Check Out Our Latest Stock Analysis on AbbVie
Insiders Place Their Bets
In other AbbVie 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 transaction, the executive vice president owned 74,430 shares of the company's stock, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company's stock.
AbbVie Company Profile
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Free Report)
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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