HighTower Advisors LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 18.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,967,343 shares of the company's stock after purchasing an additional 309,319 shares during the quarter. HighTower Advisors LLC owned approximately 0.11% of AbbVie worth $495,062,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Capital Advisors Inc. OK lifted its position 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 purchasing an additional 45,132 shares in the last quarter. Ranch Capital Advisors Inc. increased its position 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 buying an additional 4,017 shares in the last quarter. Wedge Capital Management L L P NC raised its stake 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 period. Mission Wealth Management LP raised its stake 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 period. Finally, Legacy Edge Advisors LLC purchased a new position in shares of AbbVie during the 4th quarter valued at about $1,265,000. 70.23% of the stock is currently owned by institutional investors.
AbbVie Price Performance
ABBV stock opened at $264.61 on Tuesday. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $267.47. The business has a 50 day simple moving average of $249.34 and a two-hundred day simple moving average of $227.78. The company has a market capitalization of $467.52 billion, a price-to-earnings ratio of 74.75, a PEG ratio of 0.88 and a beta of 0.30.
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 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 for the quarter, compared to analysts' expectations of $16.80 billion. During the same quarter last year, the business posted $2.97 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 14.06 EPS for the current fiscal year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were paid a $1.73 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.6%. AbbVie's payout ratio is presently 195.48%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on ABBV shares. Piper Sandler boosted their price objective on AbbVie from $298.00 to $303.00 and gave the company an "overweight" rating in a research note on Thursday. Erste Group Bank upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research note on Wednesday, August 5th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of AbbVie in a report on Tuesday, June 23rd. DZ Bank upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, Barclays increased their price objective on shares of AbbVie from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $275.95.
Get Our Latest Research Report on AbbVie
Insider Buying and Selling
In other AbbVie 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 transaction of $8,177,500.00. Following the completion of the transaction, the executive vice president owned 74,430 shares of the company's stock, valued at $18,607,500. This represents a 30.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.
AbbVie Company Profile
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Free Report)
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.
See Also
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