Proficio Capital Partners LLC Grows Position in AbbVie Inc. $ABBV

Proficio Capital Partners LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 712.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,651 shares of the company’s stock after purchasing an additional 7,586 shares during the quarter. Proficio Capital Partners LLC’s holdings in AbbVie were worth $2,177,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ABBV. Norges Bank acquired a new stake in AbbVie in the fourth quarter valued at approximately $5,865,055,000. Corient Private Wealth LP acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $559,736,000. Legal & General Group Plc acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $2,905,952,000. Wellington Management Group LLP lifted its position in shares of AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after buying an additional 8,646,424 shares in the last quarter. Finally, Capital World Investors grew its stake in AbbVie by 106.3% in the 4th quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after acquiring an additional 6,736,161 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. BNP Paribas Exane upped their price target on shares of AbbVie from $218.00 to $247.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Citigroup boosted their price target on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Guggenheim increased their price objective on AbbVie from $261.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. HSBC restated a “buy” rating and issued a $300.00 price objective on shares of AbbVie in a report on Monday, July 6th. Finally, BMO Capital Markets lifted their target price 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. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $275.95.

AbbVie Stock Performance

NYSE ABBV opened at $248.75 on Wednesday. The stock’s fifty day moving average is $254.66 and its two-hundred day moving average is $230.36. The firm has a market capitalization of $439.49 billion, a P/E ratio of 70.27, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $267.47.

AbbVie (NYSE:ABBV) last announced its quarterly 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 net margin of 9.80% and a negative return on equity of 422.07%. The firm had revenue of $16.99 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter in the previous year, the company posted $2.97 EPS. The company’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 forecast that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were issued a dividend of $1.73 per share. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s dividend payout ratio is currently 195.48%.

AbbVie Company Profile

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott’s diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie’s immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.