Sanders Morris Harris LLC Sells 18,921 Shares of AbbVie Inc. $ABBV

Key Points

• Sanders Morris Harris LLC cut its AbbVie position by 90.8% in the second quarter, selling 18,921 shares and retaining 1,908 shares valued at approximately $480,000. Institutional investors collectively own 70.23% of AbbVie.
• Analyst sentiment remains positive, with AbbVie receiving a “Moderate Buy” consensus rating and an average price target of $272.76; several firms recently raised their targets, including Cantor Fitzgerald to $285.
• AbbVie’s second-quarter results exceeded expectations, with revenue rising 10.2% year over year to $16.99 billion and EPS reaching $3.65 versus the $3.61 consensus. The company also declared a quarterly dividend of $1.73 per share, although its valuation remains elevated with a P/E ratio near 70.

Sanders Morris Harris LLC lowered its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 90.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,908 shares of the company's stock after selling 18,921 shares during the quarter. Sanders Morris Harris LLC's holdings in AbbVie were worth $480,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Ranch Capital Advisors Inc. grew its holdings in AbbVie by 37.0% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock worth $3,238,000 after acquiring an additional 4,017 shares during the last quarter. Calamos Advisors LLC boosted its holdings in shares of AbbVie by 3.4% during the fourth quarter. Calamos Advisors LLC now owns 466,290 shares of the company's stock worth $106,543,000 after purchasing an additional 15,458 shares during the period. Bingham Private Wealth LLC bought a new stake in shares of AbbVie in the fourth quarter worth about $1,147,000. Axecap Investments LLC increased its holdings in AbbVie by 713.2% during the 4th quarter. Axecap Investments LLC now owns 16,320 shares of the company's stock valued at $3,729,000 after purchasing an additional 14,313 shares during the period. Finally, Legacy Edge Advisors LLC bought a new position in AbbVie during the 4th quarter valued at approximately $1,265,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada lifted their price target on shares of AbbVie from $260.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, July 10th. Piper Sandler reissued an "overweight" rating and set a $298.00 price objective on shares of AbbVie in a research report on Tuesday, June 23rd. Cantor Fitzgerald raised their target price on shares of AbbVie from $265.00 to $285.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, UBS Group lifted their target price on shares of AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $272.76.

AbbVie Price Performance

AbbVie stock opened at $245.98 on Thursday. AbbVie Inc. has a one year low of $190.75 and a one year high of $267.47. The business's fifty day moving average is $240.90 and its 200 day moving average is $224.61. The stock has a market capitalization of $434.59 billion, a PE ratio of 69.49, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $16.80 billion. During the same quarter last year, the firm posted $2.97 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 14.06 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie priced approximately $9.9 billion of senior notes to help fund an acquisition. While the financing increases interest obligations, it provides capital to pursue a transaction intended to strengthen the company’s growth profile. AbbVie prices $9.9B senior notes to fund acquisition
• Positive Sentiment: Analyst sentiment remains favorable. Erste Group upgraded AbbVie from “hold” to “buy,” while Cantor Fitzgerald raised its price target to $285, implying additional upside from recent trading levels. Cantor Fitzgerald boosts AbbVie price target
• Positive Sentiment: Second-quarter results exceeded expectations: revenue increased 10.2% year over year to $16.99 billion, and adjusted EPS of $3.65 surpassed the $3.61 consensus estimate. Growth in immunology and neuroscience helped offset concerns about the post-Humira transition, while third-quarter EPS guidance of $3.84–$3.88 indicates continued earnings momentum. AbbVie Q2 results and outlook
• Positive Sentiment: The FDA accepted Allergan Aesthetics’ supplemental application for BOTOX Cosmetic in masseter muscle prominence, expanding a major product into a potential new aesthetic indication. Approval could broaden BOTOX’s revenue opportunity, although the application still requires regulatory review. FDA accepts BOTOX Cosmetic application
• Positive Sentiment: Canada’s drug agency recommended conditional reimbursement of UBRELVY for acute migraine treatment, potentially improving access and supporting international growth for the newer migraine medicine. UBRELVY reimbursement recommendation
• Neutral Sentiment: RemeGen forecast a significant profit turnaround, citing stronger drug sales and an AbbVie licensing deal. The development supports AbbVie’s partnered pipeline but is unlikely to materially affect near-term results. RemeGen licensing update
• Negative Sentiment: Valuation remains a risk. Commentary noted ABBV’s trailing P/E near 70 and a model estimating fair value roughly $50 below the current level, raising concerns that much of the positive outlook may already be reflected in the stock. AbbVie year-end price prediction

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.

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