AbbVie Inc. $ABBV Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its position in AbbVie Inc. (NYSE:ABBV) by 0.7% in the second quarter, Holdings Channel.com reports. The firm owned 1,342,483 shares of the company’s stock after selling 9,234 shares during the quarter. AbbVie makes up about 0.6% of Royal London Asset Management Ltd.’s holdings, making the stock its 22nd largest position. Royal London Asset Management Ltd.’s holdings in AbbVie were worth $337,822,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. Ranch Capital Advisors Inc. grew its stake in shares of AbbVie by 37.0% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after purchasing an additional 4,017 shares during the period. Capital Advisors Inc. OK lifted its stake in shares of AbbVie by 11.2% in the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock valued at $112,516,000 after purchasing an additional 45,132 shares during the period. Danica Pension Livsforsikringsaktieselskab purchased a new stake in AbbVie during the second quarter worth about $23,557,000. Wedge Capital Management L L P NC grew its position in AbbVie by 7.5% during the second quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock worth $33,865,000 after buying an additional 9,380 shares during the period. Finally, Mission Wealth Management LP grew its position in AbbVie by 119.1% during the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock worth $17,376,000 after buying an additional 37,531 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays lifted their price target 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. Piper Sandler raised their price target on AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. BMO Capital Markets lifted their price target on AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada increased their price objective on shares of AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $275.95.

AbbVie Stock Down 0.1%

ABBV opened at $256.27 on Tuesday. The firm has a market cap of $452.78 billion, a P/E ratio of 72.39, a PEG ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $267.47. The business’s fifty day simple moving average is $254.71 and its 200 day simple moving average is $230.21.

AbbVie (NYSE:ABBV) last announced 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. The firm had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, equities analysts expect that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were given a $1.73 dividend. 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 currently 195.48%.

AbbVie Company 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.