New Mexico Educational Retirement Board Purchases 6,700 Shares of AbbVie Inc. $ABBV

Key Points

• New Mexico Educational Retirement Board increased its AbbVie position by 8.2%, purchasing 6,700 shares to hold 87,955 shares valued at approximately $22.1 million. Institutional investors collectively own 70.23% of AbbVie.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $275.95; several firms recently raised their targets or upgraded the stock.
• AbbVie exceeded quarterly earnings and revenue estimates, reporting $3.65 in EPS and $16.99 billion in revenue, while revenue increased 10.2% year over year. The company also declared a quarterly dividend of $1.73 per share, representing a 2.7% annualized yield.

New Mexico Educational Retirement Board increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,955 shares of the company's stock after acquiring an additional 6,700 shares during the period. AbbVie comprises about 0.6% of New Mexico Educational Retirement Board's portfolio, making the stock its 24th biggest position. New Mexico Educational Retirement Board's holdings in AbbVie were worth $22,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Litman Gregory Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth about $28,000. Imprint Wealth LLC raised its holdings 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 buying an additional 45 shares during the last quarter. Burk Holdings LLC acquired a new stake in AbbVie during the 2nd quarter worth approximately $30,000. IFC & Insurance Marketing Inc. acquired a new stake in AbbVie during the 4th quarter worth approximately $31,000. Finally, Abound Financial LLC bought a new stake in AbbVie during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 74,430 shares of the company's stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ABBV shares. Wolfe Research upgraded shares of AbbVie from a "peer perform" rating to an "outperform" rating and set a $300.00 price target for the company in a research report on Thursday, August 13th. Piper Sandler boosted their price objective on shares of AbbVie from $298.00 to $303.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. BNP Paribas Exane increased their price objective on AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Royal Bank Of Canada raised their target price on AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on AbbVie from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $275.95.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $256.27 on Tuesday. The company has a market capitalization of $452.78 billion, a P/E ratio of 72.39, a price-to-earnings-growth 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 company's 50 day moving average price is $254.71 and its 200-day moving average price is $230.21.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share 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 company had revenue of $16.99 billion during the quarter, compared to analysts' expectations of $16.80 billion. During the same period in the prior year, the company posted $2.97 earnings per share. AbbVie'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. Analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared 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. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Wednesday, July 15th. 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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