Burnham & Co LLC Invests $3.25 Million in AbbVie Inc. $ABBV

Key Points

• Burnham & Co. acquired a new $3.25 million stake in AbbVie during the second quarter, while institutional investors and hedge funds collectively own 70.23% of the company.
• Analysts remain generally bullish, with AbbVie receiving a consensus “Moderate Buy” rating and an average price target of $275.95, above its reported $259.87 share price.
• AbbVie beat quarterly earnings and revenue expectations, reporting $3.65 in EPS and $16.99 billion in revenue, while maintaining a quarterly dividend of $1.73 per share; an executive separately sold approximately $8.18 million in stock.

Burnham & Co LLC bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,903 shares of the company's stock, valued at approximately $3,247,000. AbbVie accounts for 2.6% of Burnham & Co LLC's portfolio, making the stock its 14th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Robinhood Asset Management LLC bought a new position in AbbVie during the second quarter worth about $18,220,000. Callan Family Office LLC acquired a new stake in AbbVie in the 2nd quarter worth about $14,779,000. Expressive Wealth LLC bought a new stake in AbbVie in the 2nd quarter valued at about $433,000. Gambit Capital Management LLC acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $664,000. Finally, Fund Advisors of America Inc FL acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $827,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABBV. 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 report on Tuesday, August 11th. BMO Capital Markets increased their price target on AbbVie from $258.00 to $300.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Erste Group Bank upgraded AbbVie from a "hold" rating to a "buy" rating in a research note on Wednesday, August 5th. Cantor Fitzgerald lifted their price objective on AbbVie from $265.00 to $285.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Finally, Bank of America upped their target price on AbbVie from $234.00 to $276.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Two 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 stock. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $275.95.

AbbVie Trading Up 1.3%

NYSE ABBV opened at $259.87 on Wednesday. The firm's 50 day simple moving average is $253.69 and its 200 day simple moving average is $229.43. The firm has a market capitalization of $459.14 billion, a price-to-earnings ratio of 73.41, a P/E/G ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a 1 year low of $190.75 and a 1 year 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. 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 during the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the previous year, the business earned $2.97 earnings per share. The company's revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were issued a dividend of $1.73 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie's payout ratio is 195.48%.

Insider Buying and Selling at AbbVie

In related 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 transaction of $8,177,500.00. Following the completion of the sale, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This represents a 30.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Allergan Aesthetics, an AbbVie company, launched SkinMedica Barrier Calming Cream and introduced HA 5 Hydra Collagen Facial Mist. Clinical testing reportedly showed a 30% reduction in skin dryness after two weeks, supporting AbbVie’s aesthetics and consumer-health growth strategy. SkinMedica Adds Barrier Calming Cream
• Positive Sentiment: AbbVie is cited as a potential beneficiary of an aging population, with its immunology portfolio positioned to capture long-term healthcare demand. Aging Population Drives Healthcare Growth
• Neutral Sentiment: AbbVie will present at the Wells Fargo Healthcare Conference on September 9. The event could provide updates on its pipeline, Humira replacement products and financial outlook, but no new information was announced yet. AbbVie Wells Fargo Healthcare Conference
• Neutral Sentiment: Investors are largely waiting for AbbVie’s next earnings update, leaving the stock without a major new near-term catalyst. AbbVie Stock Holds Steady
• Neutral Sentiment: New 340B-related court developments could affect drug-company pricing and reimbursement, but the article does not identify a specific immediate impact on AbbVie. 340B Court Updates
• Negative Sentiment: Erste Group Bank reduced its fiscal 2026 EPS estimate for AbbVie, signaling somewhat more cautious expectations for earnings growth. AbbVie FY2026 EPS Estimates Reduced

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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