Sax Wealth Advisors LLC Raises Stock Holdings in AbbVie Inc. $ABBV

Sax Wealth Advisors LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 24.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,579 shares of the company’s stock after acquiring an additional 2,304 shares during the quarter. Sax Wealth Advisors LLC’s holdings in AbbVie were worth $2,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Brighton Jones LLC grew its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in shares of AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after purchasing an additional 789 shares during the last quarter. Ieq Capital LLC lifted its holdings in shares of AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after purchasing an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its position in AbbVie by 117.3% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after buying an additional 612,702 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.1%

Shares of NYSE ABBV opened at $245.82 on Monday. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $267.47. The firm has a 50-day moving average price of $241.96 and a 200 day moving average price of $225.04. The stock has a market capitalization of $434.31 billion, a price-to-earnings ratio of 69.44, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, topping 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 company had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The firm’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. Equities research analysts expect that AbbVie Inc. will post 14.07 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a $1.73 dividend. This represents a $6.92 annualized dividend and a 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%.

Analysts Set New Price Targets

Several equities analysts have issued reports on ABBV shares. 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 research note on Monday, July 13th. HSBC reaffirmed a “buy” rating and issued a $300.00 target price on shares of AbbVie in a report on Monday, July 6th. Cantor Fitzgerald increased their price target on shares of AbbVie from $265.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Bank of America raised their price objective on shares of AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Barclays lifted their price objective on AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $275.70.

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.