Johnson Financial Group Inc. bought a new position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 33,931 shares of the company’s stock, valued at approximately $8,538,000.
Other institutional investors have also added to or reduced their stakes in the company. Ranch Capital Advisors Inc. lifted its stake in shares of AbbVie by 37.0% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after purchasing an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK grew 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 valued at $112,516,000 after purchasing an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in AbbVie in the second quarter worth about $23,557,000. Wedge Capital Management L L P NC grew its position in shares of AbbVie by 7.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock worth $33,865,000 after buying an additional 9,380 shares during the last quarter. Finally, Mission Wealth Management LP raised its stake in shares of AbbVie by 119.1% during the 2nd quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock worth $17,376,000 after acquiring an additional 37,531 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.
AbbVie Trading Up 0.2%
Shares of NYSE ABBV opened at $256.08 on Monday. The company has a 50 day simple moving average of $252.66 and a two-hundred day simple moving average of $228.91. The stock has a market cap 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 Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were paid a $1.73 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie’s dividend payout ratio is presently 195.48%.
Trending Headlines about AbbVie
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?
Insider Buying and Selling
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 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. This trade represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research firms have issued reports on ABBV. Royal Bank Of Canada lifted their price target on shares of AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Evercore set a $235.00 price target on AbbVie in a research note on Friday, May 15th. BMO Capital Markets boosted their price target on AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. lifted their target price on shares of AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Barclays upped their price target on shares of AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.95.
Read Our Latest Report on AbbVie
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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