Ieq Capital LLC Takes $35.38 Million Position in AbbVie Inc. $ABBV

Key Points

• Ieq Capital LLC initiated a $35.38 million position in AbbVie during the second quarter by purchasing 102,081 shares. Hedge funds and institutional investors collectively own 70.23% of the company.
• AbbVie reported quarterly EPS of $3.65, topping estimates of $3.61, while revenue rose 10.2% year over year to $16.99 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $275.95.
• EVP Nicholas Donoghoe sold 32,710 shares for approximately $8.18 million, reducing his ownership by 30.53%. AbbVie also pays a quarterly dividend of $1.73 per share, representing a 2.7% yield.

Ieq Capital LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 102,081 shares of the company's stock, valued at approximately $35,376,000.

Other hedge funds have also made changes to their positions in the company. ACT Advisors LLC. grew its position in AbbVie by 2.5% in the second quarter. ACT Advisors LLC. now owns 1,688 shares of the company's stock worth $425,000 after acquiring an additional 41 shares during the period. Willner & Heller LLC raised its position in AbbVie by 0.7% in the second quarter. Willner & Heller LLC now owns 5,852 shares of the company's stock valued at $1,472,000 after purchasing an additional 43 shares during the period. B.O.S.S. Retirement Advisors LLC lifted its stake in shares of AbbVie by 3.1% in the 2nd quarter. B.O.S.S. Retirement Advisors LLC now owns 1,427 shares of the company's stock valued at $359,000 after purchasing an additional 43 shares during the last quarter. Fielder Capital Group LLC grew its holdings in shares of AbbVie by 1.7% during the 2nd quarter. Fielder Capital Group LLC now owns 2,532 shares of the company's stock worth $637,000 after purchasing an additional 43 shares during the period. Finally, Leslie Global Wealth LLC grew its holdings in shares of AbbVie by 1.5% during the 2nd quarter. Leslie Global Wealth LLC now owns 2,983 shares of the company's stock worth $751,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Key AbbVie News

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

Insider Activity at AbbVie

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 transaction of $8,177,500.00. Following the transaction, the executive vice president owned 74,430 shares of the company's stock, valued at $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company's stock.

AbbVie Stock Up 1.3%

Shares of AbbVie stock opened at $259.87 on Wednesday. The firm has a market capitalization of $459.14 billion, a P/E ratio of 73.41, a P/E/G ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $267.47. The firm's 50 day moving average is $253.69 and its two-hundred day moving average is $229.43.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results 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. The business had revenue of $16.99 billion during the quarter, compared to analysts' expectations of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, research analysts expect that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.7%. AbbVie's dividend payout ratio (DPR) is presently 195.48%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABBV shares. Piper Sandler boosted their price objective on shares of AbbVie from $298.00 to $303.00 and gave the company an "overweight" rating in a report on Thursday, August 20th. Bank of America lifted their price target on shares of AbbVie from $234.00 to $276.00 and gave the company a "buy" rating in a research report on Friday, July 10th. BNP Paribas Exane boosted their price target on shares of AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Canaccord Genuity Group upped their price objective on shares of AbbVie from $282.00 to $290.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, HSBC reaffirmed a "buy" rating and set a $300.00 price objective on shares of AbbVie in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.95.

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.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV - Free Report).

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