Flputnam Investment Management Co. Has $26.56 Million Stake in AbbVie Inc. $ABBV

Key Points

• Flputnam Investment Management reduced its AbbVie stake by 32.5% in the second quarter, selling 50,825 shares and retaining 105,545 shares valued at approximately $26.56 million. Institutional investors collectively own 70.23% of AbbVie.
• Analysts remain broadly positive, with AbbVie receiving a consensus “Moderate Buy” rating and an average price target of $275.95. Several firms recently raised their targets, including Wells Fargo to $300 and RBC to $280.
• AbbVie exceeded quarterly expectations with adjusted EPS of $3.65 and revenue of $16.99 billion, up 10.2% year over year. The company also announced a quarterly dividend of $1.73 per share, representing a 2.7% annualized yield.

Flputnam Investment Management Co. trimmed its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 32.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,545 shares of the company's stock after selling 50,825 shares during the quarter. Flputnam Investment Management Co.'s holdings in AbbVie were worth $26,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Ranch Capital Advisors Inc. boosted its holdings in AbbVie by 37.0% in the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock worth $3,238,000 after purchasing an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK raised its holdings in AbbVie by 11.2% during the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company's stock valued at $112,516,000 after buying an additional 45,132 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in AbbVie during the second quarter valued at about $23,557,000. Wedge Capital Management L L P NC lifted its position in shares of AbbVie by 7.5% in the second quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company's stock worth $33,865,000 after buying an additional 9,380 shares during the last quarter. Finally, Mission Wealth Management LP lifted its position in shares of AbbVie by 119.1% in the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company's stock worth $17,376,000 after buying an additional 37,531 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction that occurred 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 transaction, the executive vice president directly owned 74,430 shares of the company's stock, valued at $18,607,500. The trade was a 30.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Erste Group Bank raised AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Wells Fargo & Company raised their price objective on AbbVie from $295.00 to $300.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. UBS Group boosted their target price on AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 5th. Finally, Royal Bank Of Canada increased their price target on AbbVie from $260.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, July 10th. Two research 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 company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $275.95.

AbbVie Price Performance

ABBV stock opened at $256.27 on Tuesday. The stock has a market capitalization of $452.78 billion, a price-to-earnings ratio of 72.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29. The company has a 50-day moving average of $254.71 and a two-hundred day moving average of $230.21. 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 posted its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts' consensus estimates of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The business had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same period in the previous year, the company posted $2.97 earnings per share. The firm'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 analysts expect that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

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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