AbbVie Inc. $ABBV Shares Acquired by Oak Grove Capital LLC

Oak Grove Capital LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 38.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,750 shares of the company’s stock after purchasing an additional 17,000 shares during the period. AbbVie accounts for about 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in AbbVie by 1.7% during the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after buying an additional 1,379,232 shares during the last quarter. Corient Private Wealth LP purchased a new position in shares of AbbVie during the 2nd quarter worth $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AbbVie by 0.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock worth $3,590,323,000 after acquiring an additional 106,091 shares during the period. Legal & General Group Plc acquired a new position in shares of AbbVie during the 2nd quarter valued at about $2,905,952,000. Finally, Deutsche Bank AG boosted its position in shares of AbbVie by 13.0% during the 2nd quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock valued at $2,710,905,000 after acquiring an additional 1,241,587 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of AbbVie from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Sanford C. Bernstein reissued a “market perform” rating and issued a $225.00 price target (up from $203.00) on shares of AbbVie in a research note on Tuesday, June 23rd. Leerink Partners raised their price target on shares of AbbVie from $245.00 to $279.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. HSBC lifted their price target on shares of AbbVie from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Finally, Morgan Stanley increased their price objective on AbbVie from $296.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $277.18.

AbbVie Price Performance

Shares of ABBV stock opened at $276.24 on Friday. The firm 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. The company has a 50-day moving average of $259.06 and a two-hundred day moving average of $236.63. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $277.60.

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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $16.80 billion. During the same period last year, the business earned $2.97 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 13.97 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

AbbVie News Summary

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

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction 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 $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

About AbbVie

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.