Glaxis Capital Management LLC Invests $1.26 Million in AbbVie Inc. $ABBV

Glaxis Capital Management LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the company's stock, valued at approximately $1,258,000. AbbVie makes up approximately 2.5% of Glaxis Capital Management LLC's portfolio, making the stock its 12th biggest holding.

Several other large investors also recently bought and sold shares of ABBV. Litman Gregory Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $28,000. Imprint Wealth LLC lifted its position in AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after acquiring an additional 45 shares during the period. Legacy Wealth Managment LLC ID lifted its position in AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock worth $31,000 after acquiring an additional 73 shares during the period. IFC & Insurance Marketing Inc. purchased a new stake in AbbVie during the 4th quarter valued at about $31,000. Finally, Abound Financial LLC purchased a new stake in AbbVie during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Wells Fargo & Company lifted 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. UBS Group raised their price target on shares of AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Guggenheim upped their price objective on shares of AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Morgan Stanley reiterated an "overweight" rating and issued a $296.00 price objective on shares of AbbVie in a research note on Monday, August 3rd. Finally, Citigroup raised their target price on shares of AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Two 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $275.95.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's 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 owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Skyrizi regulatory expansion: AbbVie submitted an application to the European Medicines Agency for subcutaneous induction of Skyrizi in adults with moderately to severely active Crohn’s disease. If approved, the less invasive option could improve patient convenience, strengthen Skyrizi’s European franchise and support longer-term immunology revenue. The filing is backed by positive Phase 3 AFFIRM data. AbbVie Seeks EU Nod for Subcutaneous Skyrizi in Crohn's Disease
• Positive Sentiment: Additional IBD pipeline investment: AbbVie is conducting a Phase 2 platform basket trial evaluating potential treatments across Crohn’s disease and ulcerative colitis. The study adds longer-term pipeline optionality and may help diversify growth beyond existing immunology products, although it remains an early-stage catalyst. AbbVie Expands Its IBD Pipeline With New Phase 2 Basket Trial
• Neutral Sentiment: Income-oriented appeal: Recent market commentary highlights AbbVie among established dividend stocks, reinforcing its defensive profile and appeal to income investors. This is supportive of sentiment but does not represent a new company-specific announcement. 3 Dividend Stocks, 12 Paychecks a Year
• Negative Sentiment: Valuation risk: With ABBV trading at a high earnings multiple and close to its 52-week peak, investors may be concerned that substantial future growth is already reflected in the share price. Any regulatory delay or disappointing pipeline data could therefore produce an outsized reaction. Has AbbVie Stock Become Too Expensive to Buy?

AbbVie Stock Up 0.2%

ABBV opened at $256.08 on Monday. The company has a market cap of $452.44 billion, a price-to-earnings ratio of 72.34, a PEG ratio of 0.85 and a beta of 0.30. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $267.47. The firm's fifty day simple moving average is $252.66 and its two-hundred day simple moving average is $228.91.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results 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 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 analysts' expectations of $16.80 billion. During the same quarter in the previous year, the company earned $2.97 earnings per share. The company's quarterly 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, research analysts forecast that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders 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 dividend payout ratio is presently 195.48%.

About AbbVie

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source