Sanctuary Advisors LLC Buys Shares of 474,171 AbbVie Inc. $ABBV

Key Points

• Sanctuary Advisors bought 474,171 AbbVie shares worth approximately $119.3 million during the second quarter. Institutional investors and hedge funds collectively own 70.23% of the company.
• Analyst sentiment remains favorable, with AbbVie receiving a “Moderate Buy” consensus rating and an average price target of $275.95; several firms recently raised their targets to between $260 and $285.
• AbbVie exceeded quarterly expectations, reporting $3.65 in adjusted EPS and $16.99 billion in revenue, up 10.2% year over year. The company also maintains a quarterly dividend of $1.73 per share, representing a 2.6% annualized yield.

Sanctuary Advisors LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 474,171 shares of the company's stock, valued at approximately $119,320,000.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC increased its stake in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after buying an additional 3,064 shares during the period. Schnieders Capital Management LLC. increased its position in shares of AbbVie by 5.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock valued at $3,056,000 after buying an additional 789 shares in the last quarter. Ieq Capital LLC increased its position in shares of AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock valued at $22,281,000 after buying an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock worth $210,685,000 after buying an additional 612,702 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ABBV shares. Erste Group Bank upgraded AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Weiss Ratings raised AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their price objective on AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. UBS Group boosted their price objective on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Finally, Cantor Fitzgerald increased their target price on AbbVie from $265.00 to $285.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $275.95.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction that occurred 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 sale, the executive vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

AbbVie Trading Up 0.6%

ABBV opened at $261.50 on Thursday. The stock has a market capitalization of $462.02 billion, a P/E ratio of 73.87, a P/E/G ratio of 1.18 and a beta of 0.29. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $267.47. The firm's fifty day simple moving average is $254.23 and its 200 day simple moving average is $229.67.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The firm had revenue of $16.99 billion during the quarter, compared to analysts' expectations of $16.80 billion. During the same quarter in the prior year, the company earned $2.97 EPS. The company's 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, equities research analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were issued a dividend of $1.73 per share. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.6%. AbbVie's dividend payout ratio (DPR) is presently 195.48%.

AbbVie Company 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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