Thornburg Investment Management Inc. Boosts Holdings in AbbVie Inc. $ABBV

Thornburg Investment Management Inc. boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 541,146 shares of the company’s stock after purchasing an additional 38,314 shares during the quarter. AbbVie comprises about 1.3% of Thornburg Investment Management Inc.’s holdings, making the stock its 21st biggest holding. Thornburg Investment Management Inc.’s holdings in AbbVie were worth $136,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Ranch Capital Advisors Inc. boosted its position in shares of AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock valued at $3,238,000 after buying an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK raised its position in AbbVie by 11.2% in the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock worth $112,516,000 after buying an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in AbbVie during the 2nd quarter valued at about $23,557,000. Wedge Capital Management L L P NC boosted its holdings in shares of 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 valued at $33,865,000 after acquiring an additional 9,380 shares during the last quarter. Finally, Mission Wealth Management LP grew its stake in shares of AbbVie by 119.1% in the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock worth $17,376,000 after acquiring an additional 37,531 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of AbbVie from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, August 13th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 5th. Morgan Stanley reiterated an “overweight” rating and set a $296.00 target price on shares of AbbVie in a research note on Monday, August 3rd. Citigroup increased their price target on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Bank of America raised their price target on AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $275.95.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. The trade was a 30.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $256.27 on Tuesday. AbbVie Inc. has a one year low of $190.75 and a one year high of $267.47. The business has a fifty day moving average price of $254.71 and a 200-day moving average price of $230.21. The firm has a market capitalization of $452.78 billion, a price-to-earnings ratio of 72.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating 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 the consensus estimate of $16.80 billion. During the same period in the previous year, the business earned $2.97 earnings per share. AbbVie’s quarterly 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. On average, equities research analysts expect that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie’s payout ratio is presently 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.