Thornburg Investment Management Inc. Acquires 38,314 Shares of AbbVie Inc. $ABBV

Key Points

• Thornburg Investment Management increased its AbbVie stake by 7.6% in the second quarter, acquiring 38,314 shares and ending with 541,146 shares worth approximately $136.2 million.
• AbbVie reported quarterly earnings of $3.65 per share and revenue of $16.99 billion, beating analyst estimates; revenue rose 10.2% year over year. The company issued third-quarter EPS guidance of $3.84–$3.88.
• Shares opened at $256.27, while analysts maintained a generally positive outlook with a consensus “Moderate Buy” rating and an average price target of $275.95. AbbVie also paid a quarterly dividend of $1.73 per share, equating to a 2.7% yield.

Thornburg Investment Management Inc. grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 541,146 shares of the company's stock after acquiring an additional 38,314 shares during the quarter. AbbVie accounts for approximately 1.3% of Thornburg Investment Management Inc.'s holdings, making the stock its 21st biggest holding. Thornburg Investment Management Inc.'s holdings in AbbVie were worth $136,174,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Litman Gregory Wealth Management LLC bought a new stake in AbbVie in the fourth quarter worth $28,000. Imprint Wealth LLC grew its stake in shares of AbbVie by 56.2% during 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 during the last quarter. Burk Holdings LLC bought a new position in shares of AbbVie during the second quarter valued at about $30,000. IFC & Insurance Marketing Inc. purchased a new position in shares of AbbVie in the fourth quarter worth about $31,000. Finally, Abound Financial LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $32,000. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the sale, the executive vice president owned 74,430 shares of the company's stock, valued at $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

AbbVie Trading Down 0.1%

Shares of NYSE ABBV opened at $256.27 on Tuesday. 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 $452.78 billion, a PE ratio of 72.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29. The firm has a fifty day simple moving average of $254.71 and a two-hundred day simple moving average of $230.21.

AbbVie (NYSE:ABBV - Get Free Report) last announced its 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 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 analyst estimates of $16.80 billion. During the same quarter in the previous year, the firm posted $2.97 EPS. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. 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 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is 195.48%.

Wall Street Analyst Weigh In

ABBV has been the subject of several analyst reports. Guggenheim increased their target price on AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Barclays boosted their price objective on AbbVie from $275.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. BMO Capital Markets increased their price objective on AbbVie from $258.00 to $300.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. JPMorgan Chase & Co. raised their target price on shares of AbbVie from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Evercore set a $235.00 target price on shares of AbbVie in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.

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