Saranac Partners Ltd Takes $10.35 Million Position in AbbVie Inc. $ABBV

Saranac Partners Ltd bought a new stake in AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,086 shares of the company’s stock, valued at approximately $10,354,000. AbbVie makes up 3.0% of Saranac Partners Ltd’s holdings, making the stock its 7th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Norges Bank bought a new position in shares of AbbVie in the 4th quarter valued at about $5,865,055,000. Wellington Management Group LLP increased its stake in shares of AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after purchasing an additional 8,646,424 shares during the last quarter. Capital World Investors raised its holdings in shares of AbbVie by 106.3% in the 4th quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after purchasing an additional 6,736,161 shares during the period. Cardano Risk Management B.V. lifted its stake in AbbVie by 914.6% in the 4th quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock valued at $1,244,112,000 after purchasing an additional 4,908,260 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after purchasing an additional 4,190,487 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ABBV. Guggenheim lifted their price target on AbbVie from $261.00 to $288.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Citigroup raised their price objective on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. UBS Group lifted their target price on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. boosted their target price on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Erste Group Bank upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.95.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares of the company’s stock, valued at $18,607,500. This represents a 30.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of ABBV opened at $261.50 on Thursday. The firm has a market cap of $462.02 billion, a P/E ratio of 73.87, a price-to-earnings-growth ratio of 1.18 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 firm’s 50-day simple moving average is $254.23 and its 200 day simple moving average is $229.67.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share (EPS) 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 firm had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period last year, the business posted $2.97 earnings per share. The business’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. As a group, equities analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were paid a $1.73 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.6%. AbbVie’s payout ratio is 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.