Kendall Capital Management Buys New Position in AbbVie Inc. $ABBV

Kendall Capital Management purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,818 shares of the company’s stock, valued at approximately $6,245,000. AbbVie accounts for about 1.0% of Kendall Capital Management’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its stake in AbbVie by 1.4% during the 4th quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after buying an additional 1,119,274 shares during the period. Geode Capital Management LLC grew its stake in shares of AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after acquiring an additional 4,190,487 shares in the last quarter. Bank of America Corp DE grew its stake in shares of AbbVie by 1.4% in the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after acquiring an additional 356,394 shares in the last quarter. Norges Bank purchased a new stake in shares of AbbVie during the fourth quarter worth $5,865,055,000. Finally, Capital Research Global Investors raised its stake in shares of AbbVie by 0.7% in the fourth quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock valued at $5,805,530,000 after acquiring an additional 177,370 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’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 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 $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

AbbVie Trading Up 0.6%

Shares of ABBV stock opened at $261.50 on Thursday. The company has a market cap of $462.02 billion, a P/E ratio of 73.87, a PEG ratio of 1.18 and a beta of 0.29. The firm has a fifty day moving average price of $254.23 and a 200 day moving average price of $229.67. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $267.47.

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 analysts’ expectations of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.AbbVie’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, equities analysts forecast that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were paid a dividend of $1.73 per share. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.6%. AbbVie’s payout ratio is presently 195.48%.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Wolfe Research upgraded AbbVie from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, August 13th. Cantor Fitzgerald increased their price target on AbbVie from $265.00 to $285.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Wells Fargo & Company boosted their price objective on AbbVie from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Finally, Evercore set a $235.00 target price on shares of AbbVie in a research note on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.95.

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.