Thurston Springer Miller Herd & Titak Inc. Has $1.80 Million Stock Position in AbbVie Inc. $ABBV

Thurston Springer Miller Herd & Titak Inc. increased its position in AbbVie Inc. (NYSE:ABBV) by 76.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,148 shares of the company’s stock after buying an additional 3,090 shares during the period. AbbVie accounts for approximately 0.7% of Thurston Springer Miller Herd & Titak Inc.’s investment portfolio, making the stock its 29th biggest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in AbbVie were worth $1,799,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Baring Financial LLC acquired a new stake in AbbVie in the second quarter valued at approximately $209,000. Quantum Financial Advisors LLC raised its holdings in AbbVie by 2.6% during the second quarter. Quantum Financial Advisors LLC now owns 3,480 shares of the company’s stock worth $876,000 after buying an additional 89 shares during the last quarter. Trust Point Inc. grew its holdings in shares of AbbVie by 21.3% during the second quarter. Trust Point Inc. now owns 10,133 shares of the company’s stock valued at $2,550,000 after buying an additional 1,780 shares during the last quarter. First Heartland Consultants Inc. raised its holdings in shares of AbbVie by 5.5% in the 2nd quarter. First Heartland Consultants Inc. now owns 3,768 shares of the company’s stock worth $948,000 after acquiring an additional 197 shares during the last quarter. Finally, Victrix Investment Advisors boosted its stake in AbbVie by 17.3% during the 2nd quarter. Victrix Investment Advisors now owns 11,038 shares of the company’s stock valued at $2,777,000 after purchasing an additional 1,624 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. 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 report on Friday, July 10th. HSBC reaffirmed a “buy” rating and issued a $300.00 target price on shares of AbbVie in a report on Monday, July 6th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a research report on Tuesday, June 23rd. Erste Group Bank upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, UBS Group lifted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $275.70.

AbbVie Stock Performance

Shares of ABBV opened at $245.82 on Friday. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $267.47. The business has a 50-day moving average of $241.96 and a 200 day moving average of $224.96. The firm has a market cap of $434.31 billion, a P/E ratio of 69.44, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, beating the consensus estimate of $3.61 by $0.04. The business had revenue of $16.99 billion for 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 company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, research analysts predict that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 195.48%.

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.