Barbara Oil Co. Takes $5.03 Million Position in AbbVie Inc. $ABBV

Key Points

• Barbara Oil Co. acquired 20,000 AbbVie shares worth approximately $5.03 million in the second quarter, making AbbVie 1.7% of its portfolio. Institutional investors collectively own 70.23% of the company.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $275.95; several firms recently raised their targets to between $285 and $300.
• AbbVie exceeded quarterly expectations with $3.65 in adjusted EPS and $16.99 billion in revenue, while revenue rose 10.2% year over year. The company also pays a quarterly dividend of $1.73, equivalent to a 2.6% yield.

Barbara Oil Co. bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,000 shares of the company's stock, valued at approximately $5,033,000. AbbVie comprises about 1.7% of Barbara Oil Co.'s investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Saranac Partners Ltd bought a new stake in shares of AbbVie in the 2nd quarter valued at about $10,354,000. Solstein Capital LLC bought a new stake in shares of AbbVie during the second quarter worth $279,000. Jericho Financial LLP acquired a new stake in shares of AbbVie in the 2nd quarter valued at about $6,567,000. Alpha Advisors LLC VA bought a new stake in shares of AbbVie in the second quarter valued at about $355,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of AbbVie during the second quarter worth about $189,104,000. Institutional investors own 70.23% of the company's stock.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares of the company's stock, valued at $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research reports. Citigroup boosted their target price on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Wells Fargo & Company raised their target price on shares of AbbVie from $295.00 to $300.00 and gave the company an "overweight" rating in a research report on Monday, August 17th. Cantor Fitzgerald lifted their price target on shares of AbbVie from $265.00 to $285.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of AbbVie in a research report 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.95.

AbbVie Stock Up 0.6%

Shares of NYSE ABBV opened at $261.50 on Thursday. The business's 50 day moving average price is $254.23 and its two-hundred day moving average price is $229.67. The company has a market cap of $462.02 billion, a PE ratio of 73.87, a price-to-earnings-growth ratio of 1.18 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 released its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.61 by $0.04. The company had revenue of $16.99 billion during the quarter, compared to analysts' expectations 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 last year, the firm posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, research analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, July 15th. AbbVie's payout ratio is currently 195.48%.

AbbVie 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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