UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in AbbVie Inc. $ABBV

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 0.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,267,697 shares of the company’s stock after buying an additional 106,091 shares during the quarter. AbbVie makes up about 0.7% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s investment portfolio, making the stock its 21st largest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AbbVie were worth $3,590,323,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Litman Gregory Wealth Management LLC purchased a new position in AbbVie during the fourth quarter valued at $28,000. Imprint Wealth LLC lifted its stake in shares of AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Burk Holdings LLC bought a new stake in AbbVie in the second quarter worth $30,000. IFC & Insurance Marketing Inc. purchased a new position in shares of AbbVie during the 4th quarter worth about $31,000. Finally, Abound Financial LLC bought a new position in shares of AbbVie during the fourth quarter valued at approximately $32,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of ABBV stock opened at $256.27 on Tuesday. The company has a market cap of $452.78 billion, a price-to-earnings ratio of 72.39, a PEG ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $267.47. The stock has a 50 day simple moving average of $254.71 and a 200-day simple moving average of $230.21.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) 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 business had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter last year, the business earned $2.97 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie’s payout ratio is 195.48%.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Piper Sandler raised their price target on shares of AbbVie from $298.00 to $303.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Bank of America lifted their target price on AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research note on Friday, July 10th. HSBC reaffirmed a “buy” rating and issued a $300.00 price target on shares of AbbVie in a report on Monday, July 6th. Barclays increased their price objective on shares of AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.