Proficio Capital Partners LLC Grows Holdings in AbbVie Inc. $ABBV

Key Points

• Proficio Capital Partners increased its AbbVie stake by 712.3% in the second quarter, owning 8,651 shares valued at approximately $2.18 million. Institutional investors collectively own 70.23% of AbbVie.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $275.95. Recent targets range from $247 to $300.
• AbbVie exceeded quarterly earnings and revenue expectations, reporting $3.65 in EPS and $16.99 billion in revenue, while shares recently traded at $248.75. The company also declared a quarterly dividend of $1.73 per share, equivalent to a 2.8% yield.

Proficio Capital Partners LLC increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 712.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,651 shares of the company's stock after buying an additional 7,586 shares during the period. Proficio Capital Partners LLC's holdings in AbbVie were worth $2,177,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $5,865,055,000. Corient Private Wealth LP bought a new stake in AbbVie during the 2nd quarter valued at $559,736,000. Legal & General Group Plc bought a new stake in AbbVie during the 2nd quarter valued at $2,905,952,000. Wellington Management Group LLP lifted its holdings in shares of AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock worth $2,439,714,000 after buying an additional 8,646,424 shares during the period. Finally, Capital World Investors lifted its holdings in shares of AbbVie by 106.3% in the 4th quarter. Capital World Investors now owns 13,071,444 shares of the company's stock worth $2,986,777,000 after buying an additional 6,736,161 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABBV. 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. UBS Group raised their target price on shares of AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Morgan Stanley restated an "overweight" rating and issued a $296.00 price target on shares of AbbVie in a report on Monday, August 3rd. BNP Paribas Exane increased their price objective 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. Finally, Royal Bank Of Canada lifted their price objective on shares of AbbVie from $260.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, July 10th. Two investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.95.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the 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 transaction, the executive vice president directly owned 74,430 shares of the company's stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

AbbVie Trading Down 3.0%

Shares of AbbVie stock 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 firm has a market capitalization of $439.49 billion, a price-to-earnings ratio of 70.27, a PEG ratio of 1.16 and a beta of 0.29. The firm's 50 day simple moving average is $254.66 and its two-hundred day simple moving average is $230.36.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. The business had revenue of $16.99 billion during 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 business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

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

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.

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