Spirepoint Private Client LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 45.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,767 shares of the company's stock after selling 22,686 shares during the quarter. Spirepoint Private Client LLC's holdings in AbbVie were worth $6,736,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Capital Advisors Inc. OK boosted its stake in AbbVie by 11.2% in 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 in the last quarter. Ranch Capital Advisors Inc. increased its stake 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 buying an additional 4,017 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of 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 buying an additional 9,380 shares in the last quarter. Mission Wealth Management LP raised its holdings in shares of AbbVie by 119.1% in the second 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. Finally, Legacy Edge Advisors LLC bought a new position in shares of AbbVie in the fourth quarter valued at about $1,265,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions 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 transaction of $8,177,500.00. Following the completion of the transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. The trade was a 30.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company's stock.
AbbVie Stock Performance
Shares of ABBV stock opened at $264.61 on Tuesday. The firm's 50 day moving average price is $249.34 and its two-hundred day moving average price is $227.78. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $267.47. The stock has a market cap of $467.52 billion, a PE ratio of 74.75, a PEG ratio of 0.88 and a beta of 0.30.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating 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 company had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter in the prior year, the business posted $2.97 EPS. The firm'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. As a group, sell-side analysts predict that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders 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 yield of 2.6%. AbbVie's dividend payout ratio (DPR) is 195.48%.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of AbbVie from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Guggenheim upped their target price on shares of AbbVie from $261.00 to $288.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. UBS Group increased their price target 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. Evercore set a $235.00 price target on shares of AbbVie in a report on Friday, May 15th. Finally, HSBC restated a "buy" rating and issued a $300.00 price objective on shares of AbbVie in a research report on Monday, July 6th. 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 has an average rating of "Moderate Buy" and a consensus price target of $275.95.
Check Out Our Latest Research Report on AbbVie
About AbbVie
(
Free Report)
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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