National Pension Service Buys 59,876 Shares of AbbVie Inc. $ABBV

Key Points

• National Pension Service increased its AbbVie position by 1.5% in the second quarter, acquiring 59,876 shares and ending with 4.01 million shares valued at approximately $1.01 billion.
• AbbVie reported quarterly EPS of $3.65, exceeding estimates, while revenue rose 10.2% year over year to $16.99 billion. The company also declared a quarterly dividend of $1.73 per share, representing a 2.6% annualized yield.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $276.64; however, an AbbVie executive recently sold 32,710 shares at $250 each.

National Pension Service lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,009,573 shares of the company's stock after acquiring an additional 59,876 shares during the period. AbbVie makes up approximately 0.7% of National Pension Service's holdings, making the stock its 28th biggest holding. National Pension Service owned 0.23% of AbbVie worth $1,008,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Burk Holdings LLC acquired a new stake in AbbVie in the second quarter worth $30,000. Abound Financial LLC bought a new position in shares of AbbVie during the fourth quarter worth $32,000. Merkkuri Wealth Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $34,000. Marquette Asset Management LLC grew its holdings in shares of AbbVie by 52.2% in the 2nd quarter. Marquette Asset Management LLC now owns 140 shares of the company's stock valued at $35,000 after buying an additional 48 shares during the period. Finally, Phillip James Consulting Co. bought a new stake in shares of AbbVie in the 4th quarter valued at $36,000. Institutional investors own 70.23% of the company's stock.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the business's 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by company insiders.

AbbVie Stock Performance

Shares of AbbVie stock opened at $261.68 on Tuesday. The firm has a market cap of $462.33 billion, a PE ratio of 73.92, a P/E/G ratio of 1.16 and a beta of 0.29. The business's 50 day simple moving average is $254.60 and its 200 day simple moving average is $231.19. 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 issued its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. The firm had revenue of $16.99 billion for 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 period in the previous year, the firm posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a $1.73 dividend. The ex-dividend date is Thursday, October 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.6%. AbbVie's dividend payout ratio (DPR) is currently 195.48%.

Analysts Set New Price Targets

Several brokerages recently commented on ABBV. Wolfe Research raised AbbVie from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research note on Thursday, August 13th. HSBC increased their price target on AbbVie from $300.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday. Canaccord Genuity Group raised their price target on AbbVie from $282.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Barclays lifted their price objective on AbbVie from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Finally, Citigroup boosted their price objective on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research 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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $276.64.

About AbbVie

AbbVie Inc NYSE: ABBV is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott's diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie's immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.

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.