W1M Asset Management Ltd bought a new position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) during the second quarter, Holdings Channel reports. The fund bought 5,460 shares of the company’s stock, valued at approximately $1,372,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ranch Capital Advisors Inc. lifted 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 worth $3,238,000 after acquiring an additional 4,017 shares during the period. Capital Advisors Inc. OK increased its position in AbbVie by 11.2% during the 2nd 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 period. Danica Pension Livsforsikringsaktieselskab bought a new position in AbbVie during the 2nd quarter worth approximately $23,557,000. Wedge Capital Management L L P NC raised its holdings in AbbVie by 7.5% during 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 purchasing an additional 9,380 shares during the last quarter. Finally, Mission Wealth Management LP lifted its position in shares of AbbVie by 119.1% in the 2nd quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock worth $17,376,000 after purchasing an additional 37,531 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Stock Up 1.3%
Shares of NYSE ABBV opened at $259.87 on Wednesday. The firm has a market cap of $459.14 billion, a PE ratio of 73.41, a P/E/G ratio of 1.16 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 company’s fifty day simple moving average is $253.69 and its 200 day simple moving average is $229.43.
AbbVie Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were given a $1.73 dividend. 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 payout ratio is presently 195.48%.
Insider Buying and Selling
In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s 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 transaction, the executive vice president directly owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.
Key Stories Impacting AbbVie
Here are the key news stories impacting AbbVie this week:
- Positive Sentiment: Allergan Aesthetics, an AbbVie company, launched SkinMedica Barrier Calming Cream and introduced HA 5 Hydra Collagen Facial Mist. Clinical testing reportedly showed a 30% reduction in skin dryness after two weeks, supporting AbbVie’s aesthetics and consumer-health growth strategy. SkinMedica Adds Barrier Calming Cream
- Positive Sentiment: AbbVie is cited as a potential beneficiary of an aging population, with its immunology portfolio positioned to capture long-term healthcare demand. Aging Population Drives Healthcare Growth
- Neutral Sentiment: AbbVie will present at the Wells Fargo Healthcare Conference on September 9. The event could provide updates on its pipeline, Humira replacement products and financial outlook, but no new information was announced yet. AbbVie Wells Fargo Healthcare Conference
- Neutral Sentiment: Investors are largely waiting for AbbVie’s next earnings update, leaving the stock without a major new near-term catalyst. AbbVie Stock Holds Steady
- Neutral Sentiment: New 340B-related court developments could affect drug-company pricing and reimbursement, but the article does not identify a specific immediate impact on AbbVie. 340B Court Updates
- Negative Sentiment: Erste Group Bank reduced its fiscal 2026 EPS estimate for AbbVie, signaling somewhat more cautious expectations for earnings growth. AbbVie FY2026 EPS Estimates Reduced
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on ABBV. HSBC reiterated a “buy” rating and set a $300.00 price objective on shares of AbbVie in a research report on Monday, July 6th. Wells Fargo & Company boosted their target price on shares of AbbVie from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Weiss Ratings upgraded AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Barclays lifted their price objective on AbbVie from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $296.00 target price on shares of AbbVie in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $275.95.
Get Our Latest Report on AbbVie
AbbVie 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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