MRA Advisory Group raised its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 195.5% during the second quarter, Holdings Channel reports. The fund owned 7,883 shares of the company’s stock after acquiring an additional 5,215 shares during the period. MRA Advisory Group’s holdings in AbbVie were worth $1,984,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares during the last quarter. State Street Corp boosted its holdings in shares of AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after buying an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after buying an additional 4,190,487 shares during the last quarter. Bank of America Corp DE grew its position in AbbVie by 1.4% during the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after buying an additional 356,394 shares during the period. Finally, Norges Bank bought a new stake in AbbVie during the fourth quarter valued at approximately $5,865,055,000. 70.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on ABBV shares. Piper Sandler reiterated an “overweight” rating and issued a $298.00 price target on shares of AbbVie in a research report on Tuesday, June 23rd. Morgan Stanley reissued an “overweight” rating and set a $296.00 price objective on shares of AbbVie in a research report on Monday. Evercore set a $235.00 price objective on AbbVie in a research note on Friday, May 15th. Guggenheim raised their target price on AbbVie from $261.00 to $288.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Citigroup raised their target price on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $275.70.
AbbVie Stock Up 0.8%
NYSE ABBV opened at $245.82 on Friday. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $267.47. The business has a 50-day moving average price of $241.96 and a 200-day moving average price of $224.96. The firm has a market cap of $434.31 billion, a price-to-earnings ratio of 69.44, a price-to-earnings-growth ratio of 0.81 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 EPS for the quarter, topping 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 analysts’ expectations of $16.80 billion. During the same period in the previous year, the firm earned $2.97 EPS. The firm’s 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. Research analysts expect that AbbVie Inc. will post 14.06 EPS for the current fiscal year.
AbbVie Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is currently 195.48%.
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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