Foyston Gordon & Payne Inc Makes New Investment in AbbVie Inc. $ABBV

Key Points

• Foyston Gordon & Payne acquired 12,200 AbbVie shares during the second quarter, valued at approximately $3.07 million. Institutional investors collectively own 70.23% of AbbVie.
• Analysts remain broadly positive, with AbbVie receiving a “Moderate Buy” consensus rating and an average price target of $275.95; several firms recently raised their targets.
• AbbVie exceeded quarterly earnings and revenue expectations, reporting $3.65 in EPS and $16.99 billion in revenue, while revenue grew 10.2% year over year. The company also pays a quarterly dividend of $1.73, yielding about 2.6% annually.

Foyston Gordon & Payne Inc acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,200 shares of the company's stock, valued at approximately $3,070,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Litman Gregory Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter worth about $28,000. Imprint Wealth LLC grew its position in AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock valued at $29,000 after acquiring an additional 45 shares during the last quarter. Legacy Wealth Managment LLC ID increased its stake in AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock worth $31,000 after purchasing an additional 73 shares during the period. IFC & Insurance Marketing Inc. bought a new stake in shares of AbbVie during the fourth quarter worth $31,000. Finally, Abound Financial LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business'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 transaction, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. The trade was 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 company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ABBV. BMO Capital Markets upped their price target on shares of AbbVie from $258.00 to $300.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. BNP Paribas Exane increased their price objective on AbbVie from $218.00 to $247.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Morgan Stanley reaffirmed an "overweight" rating and set a $296.00 target price on shares of AbbVie in a research report on Monday, August 3rd. Wells Fargo & Company upped their target price on AbbVie from $295.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Finally, Bank of America increased their price target on AbbVie from $234.00 to $276.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Two equities research 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $275.95.

AbbVie Stock Performance

Shares of AbbVie stock opened at $261.50 on Thursday. AbbVie Inc. has a one year low of $190.75 and a one year high of $267.47. The company has a market capitalization of $462.02 billion, a PE ratio of 73.87, a P/E/G ratio of 1.18 and a beta of 0.29. The company has a 50-day simple moving average of $254.23 and a two-hundred day simple moving average of $229.67.

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 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 firm had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the previous year, the business posted $2.97 EPS. AbbVie'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 analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were given 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 dividend yield of 2.6%. AbbVie's dividend payout ratio (DPR) is presently 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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