Saranac Partners Ltd Acquires Shares of 41,086 AbbVie Inc. $ABBV

Saranac Partners Ltd bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,086 shares of the company’s stock, valued at approximately $10,354,000. AbbVie makes up 3.0% of Saranac Partners Ltd’s investment portfolio, making the stock its 7th largest holding.

Several other hedge funds also recently made changes to their positions in the business. Litman Gregory Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter worth approximately $28,000. Imprint Wealth LLC raised its holdings in AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Burk Holdings LLC acquired a new position in AbbVie in the 2nd quarter valued at $30,000. Legacy Wealth Managment LLC ID lifted its position in shares of AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 73 shares during the period. Finally, IFC & Insurance Marketing Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $31,000. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 0.6%

Shares of NYSE ABBV opened at $261.50 on Thursday. The company has a market cap of $462.02 billion, a price-to-earnings ratio of 73.87, a PEG ratio of 1.18 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 stock has a 50-day moving average price of $254.23 and a two-hundred day moving average price of $229.67.

AbbVie (NYSE:ABBV) last posted its quarterly 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. The company had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $2.97 EPS. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were given a $1.73 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.6%. AbbVie’s dividend payout ratio (DPR) is currently 195.48%.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction on 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 approximately $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on ABBV shares. Canaccord Genuity Group raised their price target on AbbVie from $282.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. BMO Capital Markets increased their price objective on shares of AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. UBS Group raised their target price on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Cantor Fitzgerald boosted their target price on shares of AbbVie from $265.00 to $285.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Evercore set a $235.00 target price on shares of AbbVie in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $275.95.

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.