Oak Grove Capital LLC Buys 17,000 Shares of AbbVie Inc. $ABBV

Oak Grove Capital LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 38.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,750 shares of the company’s stock after purchasing an additional 17,000 shares during the quarter. AbbVie accounts for approximately 0.7% of Oak Grove Capital LLC’s portfolio, making the stock its 28th largest holding. Oak Grove Capital LLC’s holdings in AbbVie were worth $16,153,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABBV. Burk Holdings LLC acquired a new stake in AbbVie during the second quarter valued at $30,000. Abound Financial LLC acquired a new position in shares of AbbVie in the fourth quarter worth about $32,000. Merkkuri Wealth Advisors LLC purchased a new stake in shares of AbbVie during the 1st quarter worth about $34,000. Marquette Asset Management LLC boosted its stake in shares of AbbVie by 52.2% during the 2nd quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock worth $35,000 after acquiring an additional 48 shares in the last quarter. Finally, Phillip James Consulting Co. acquired a new stake in shares of AbbVie during the 4th quarter valued at about $36,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: FDA breakthrough designations strengthen AbbVie’s oncology pipeline. The FDA granted two Breakthrough Therapy designations to Temab-A (telisotuzumab adizutecan) for colorectal cancer and non-small cell lung cancer. The designation can accelerate development and regulatory review, although it does not guarantee approval or commercial success. AbbVie’s Temab-A Gets Two FDA Breakthrough Therapy Tags in Cancer
• Positive Sentiment: Analysts raised their valuation targets. JPMorgan increased its target to $300 and maintained an overweight rating, while Cantor Fitzgerald lifted its target to $290 and Guggenheim reaffirmed a buy rating with a $288 target. These actions suggest analysts see additional upside from AbbVie’s growth products and pipeline. Cantor Fitzgerald Lifts Price Targets on Four Pharma Giants
• Positive Sentiment: New products are more than offsetting Humira’s patent-loss decline. Humira revenue fell 35.9% to $756 million, but total quarterly revenue rose 10.2% to $16.99 billion. The performance indicates that immunology, neuroscience and other newer medicines are successfully replacing the former blockbuster. AbbVie Outgrew Humira’s Collapse
• Neutral Sentiment: Valuation and income appeal remain part of the debate. AbbVie’s dividend and defensive characteristics may attract income-focused investors, but the stock’s elevated valuation means continued earnings and pipeline execution are important to justify further gains. Treasury Bills or Dividend Stocks

Analysts Set New Price Targets

ABBV has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on AbbVie from $258.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Leerink Partners raised their price objective on AbbVie from $245.00 to $279.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Canaccord Genuity Group boosted their price objective on AbbVie from $282.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Guggenheim reaffirmed a “buy” rating and set a $288.00 target price on shares of AbbVie in a research note on Friday. Finally, Weiss Ratings upgraded AbbVie from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $277.18.

AbbVie Stock Up 1.4%

ABBV opened at $276.24 on Friday. The company has a market cap of $488.06 billion, a PE ratio of 78.03, a price-to-earnings-growth ratio of 1.24 and a beta of 0.24. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $277.60. The company has a 50-day moving average price of $259.06 and a 200 day moving average price of $236.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 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 posted $2.97 EPS. AbbVie’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. As a group, sell-side analysts expect that AbbVie Inc. will post 13.97 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Thursday, October 15th. AbbVie’s payout ratio is presently 195.48%.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

AbbVie Profile

AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women’s health.

The company’s products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.

AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.