AbbVie Inc. $ABBV Shares Bought by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 24.8% during the 2nd quarter, Holdings Channel reports. The firm owned 11,579 shares of the company’s stock after purchasing an additional 2,304 shares during the quarter. Sax Wealth Advisors LLC’s holdings in AbbVie were worth $2,914,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in AbbVie by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after buying an additional 3,032,438 shares in the last quarter. State Street Corp increased its position in AbbVie by 1.4% during 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 in the last quarter. Geode Capital Management LLC increased its position in AbbVie by 10.4% during 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 in the last quarter. Bank of America Corp DE raised its holdings in shares of AbbVie by 1.4% in the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after acquiring an additional 356,394 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie in the fourth quarter worth $5,865,055,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

NYSE ABBV opened at $245.82 on Monday. The company has a market cap of $434.31 billion, a P/E ratio of 69.44, a P/E/G ratio of 0.82 and a beta of 0.30. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $267.47. The company has a 50-day moving average of $241.96 and a 200-day moving average of $225.04.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The business had revenue of $16.99 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same period last year, the company earned $2.97 earnings per share. The company’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, equities research analysts anticipate that AbbVie Inc. will post 14.07 EPS for the current year.

AbbVie Dividend Announcement

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 dividend yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is 195.48%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank Of Canada increased their price objective on AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. BMO Capital Markets boosted their target price on shares of AbbVie from $258.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Wells Fargo & Company upped their target price on shares of AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Weiss Ratings raised shares of AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $298.00 price target on shares of AbbVie in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.70.

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.