Nwam LLC Acquires 6,394 Shares of AbbVie Inc. $ABBV

Key Points

• Nwam LLC increased its AbbVie stake by 30.5% in the second quarter, purchasing 6,394 additional shares for a total of 27,356 shares valued at approximately $6.88 million. Institutional investors collectively own 70.23% of ABBV.
• Analyst sentiment remains favorable, with AbbVie receiving a consensus “Moderate Buy” rating and an average price target of $275.95. Recent target increases included Barclays at $300 and Morgan Stanley at $296.
• AbbVie reported quarterly earnings of $3.65 per share and $16.99 billion in revenue, exceeding estimates, while revenue grew 10.2% year over year. The company also paid a quarterly dividend of $1.73, equivalent to a 2.8% annualized yield.

Nwam LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 30.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,356 shares of the company's stock after purchasing an additional 6,394 shares during the quarter. Nwam LLC's holdings in AbbVie were worth $6,884,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ranch Capital Advisors Inc. raised its holdings in shares of AbbVie by 37.0% in the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock valued at $3,238,000 after purchasing an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK boosted its holdings in AbbVie by 11.2% during the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company's stock worth $112,516,000 after purchasing an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new position in AbbVie during the second quarter worth $23,557,000. Wedge Capital Management L L P NC grew its position in 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 valued at $33,865,000 after purchasing an additional 9,380 shares in the last quarter. Finally, Mission Wealth Management LP increased its stake in AbbVie by 119.1% in the 2nd quarter. Mission Wealth Management LP now owns 69,052 shares of the company's stock valued at $17,376,000 after buying an additional 37,531 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business's stock in a transaction 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 completion of the sale, 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 SEC, which is available through the SEC website. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABBV. Barclays raised 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. Morgan Stanley reissued an "overweight" rating and set a $296.00 price target on shares of AbbVie in a research report on Monday, August 3rd. Sanford C. Bernstein restated a "market perform" rating on shares of AbbVie in a research note on Tuesday, June 23rd. Erste Group Bank raised AbbVie from a "hold" rating to a "buy" rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada increased their price objective on AbbVie from $260.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $275.95.

AbbVie Stock Down 3.0%

ABBV opened at $248.75 on Wednesday. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47. The business has a 50 day moving average of $254.66 and a 200-day moving average of $230.36. The stock has a market cap of $439.49 billion, a price-to-earnings ratio of 70.27, a PEG ratio of 1.16 and a beta of 0.29.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, beating the consensus estimate of $3.61 by $0.04. The firm had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, analysts expect that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were given a $1.73 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. AbbVie's dividend payout ratio is presently 195.48%.

AbbVie Profile

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.

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