Elevation Point Wealth Partners LLC Buys Shares of 92,097 AbbVie Inc. $ABBV

Elevation Point Wealth Partners LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 92,097 shares of the company’s stock, valued at approximately $23,175,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ranch Capital Advisors Inc. boosted its holdings in AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after buying an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK increased its stake in shares of AbbVie by 11.2% in the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock valued at $112,516,000 after acquiring an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of AbbVie in the 2nd quarter valued at about $23,557,000. Wedge Capital Management L L P NC boosted its stake 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 acquiring an additional 9,380 shares during the last quarter. Finally, Mission Wealth Management LP grew its holdings in AbbVie by 119.1% during the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock valued at $17,376,000 after purchasing an additional 37,531 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ABBV shares. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Canaccord Genuity Group boosted their price target on shares of AbbVie from $282.00 to $290.00 and gave the company a “buy” rating in a report on Monday, August 3rd. UBS Group upped their price objective on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Piper Sandler raised their price objective on AbbVie from $298.00 to $303.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Finally, Bank of America lifted their target price on AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $275.95.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the company’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 directly owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $261.50 on Thursday. The business’s 50-day simple moving average is $254.23 and its 200 day simple moving average is $229.67. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $267.47. The firm has a market capitalization of $462.02 billion, a PE ratio of 73.87, a PEG ratio of 1.18 and a beta of 0.29.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The firm had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the previous year, the firm earned $2.97 EPS. The business’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. On average, research analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.

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 issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Wednesday, July 15th. AbbVie’s payout ratio is presently 195.48%.

About AbbVie

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.