Clear Harbor Asset Management LLC Acquires New Shares in AbbVie Inc. $ABBV

Clear Harbor Asset Management LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,214 shares of the company’s stock, valued at approximately $6,848,000.

Several other hedge funds also recently added to or reduced their stakes in the business. First Nebraska Trust Co acquired a new stake in AbbVie during the second quarter worth $1,805,000. Bank of Nova Scotia acquired a new position in shares of AbbVie in the 2nd quarter valued at $85,024,000. Kendall Capital Management acquired a new position in shares of AbbVie in the 2nd quarter valued at $6,245,000. Vista Investment Management purchased a new position in shares of AbbVie during the 2nd quarter worth $306,000. Finally, Hudson Portfolio Management LLC purchased a new position in shares of AbbVie during the 2nd quarter worth $393,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABBV. UBS Group boosted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $296.00 target price on shares of AbbVie in a research note on Monday, August 3rd. Citigroup lifted their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. BNP Paribas Exane boosted their price target on shares of AbbVie from $218.00 to $247.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $275.95.

AbbVie Trading Up 0.6%

ABBV stock opened at $261.50 on Thursday. The business’s fifty day moving average price is $254.23 and its 200 day moving average price is $229.67. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47. The company has a market capitalization of $462.02 billion, a PE ratio of 73.87, a P/E/G ratio of 1.18 and a beta of 0.29.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.04. The company had revenue of $16.99 billion during 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 revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the business posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Research analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction that occurred on Friday, August 14th. The shares were 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 owned 74,430 shares in the company, valued at approximately $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.