Quartz Partners LLC Purchases Shares of 8,106 AbbVie Inc. $ABBV

Quartz Partners LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,106 shares of the company's stock, valued at approximately $2,040,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter worth $28,000. Imprint Wealth LLC lifted its stake in shares of AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock valued at $29,000 after buying an additional 45 shares in the last quarter. IFC & Insurance Marketing Inc. bought a new position in shares of AbbVie in the fourth quarter valued at $31,000. Legacy Wealth Managment LLC ID grew its holdings in shares of AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock valued at $31,000 after buying an additional 73 shares during the last quarter. Finally, Marquette Asset Management LLC increased its position in shares of AbbVie by 52.2% during the second quarter. Marquette Asset Management LLC now owns 140 shares of the company's stock worth $35,000 after acquiring an additional 48 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 0.2%

Shares of NYSE ABBV opened at $256.08 on Monday. The business has a 50-day moving average of $252.66 and a 200-day moving average of $228.91. The firm has a market capitalization of $452.44 billion, a price-to-earnings ratio of 72.34, a PEG ratio of 0.85 and a beta of 0.30. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $267.47.

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, beating 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 firm had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. During the same quarter last year, the company posted $2.97 EPS. The business's quarterly revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, analysts predict 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 given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, July 15th. AbbVie's dividend payout ratio is presently 195.48%.

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 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 owned 74,430 shares of the company's stock, valued at approximately $18,607,500. The trade was a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Skyrizi regulatory expansion: AbbVie submitted an application to the European Medicines Agency for subcutaneous induction of Skyrizi in adults with moderately to severely active Crohn’s disease. If approved, the less invasive option could improve patient convenience, strengthen Skyrizi’s European franchise and support longer-term immunology revenue. The filing is backed by positive Phase 3 AFFIRM data. AbbVie Seeks EU Nod for Subcutaneous Skyrizi in Crohn's Disease
• Positive Sentiment: Additional IBD pipeline investment: AbbVie is conducting a Phase 2 platform basket trial evaluating potential treatments across Crohn’s disease and ulcerative colitis. The study adds longer-term pipeline optionality and may help diversify growth beyond existing immunology products, although it remains an early-stage catalyst. AbbVie Expands Its IBD Pipeline With New Phase 2 Basket Trial
• Neutral Sentiment: Income-oriented appeal: Recent market commentary highlights AbbVie among established dividend stocks, reinforcing its defensive profile and appeal to income investors. This is supportive of sentiment but does not represent a new company-specific announcement. 3 Dividend Stocks, 12 Paychecks a Year
• Negative Sentiment: Valuation risk: With ABBV trading at a high earnings multiple and close to its 52-week peak, investors may be concerned that substantial future growth is already reflected in the share price. Any regulatory delay or disappointing pipeline data could therefore produce an outsized reaction. Has AbbVie Stock Become Too Expensive to Buy?

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Bank of America increased their price objective on shares of AbbVie from $234.00 to $276.00 and gave the company a "buy" rating in a research note on Friday, July 10th. BNP Paribas Exane increased their price target on AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Citigroup lifted their target price on AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada lifted their price objective on shares of AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.

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