Mission Financial Group LLC Makes New Investment in AbbVie Inc. $ABBV

Mission Financial Group LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,291 shares of the company’s stock, valued at approximately $577,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. State Street Corp boosted its stake in shares of AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after acquiring an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC increased its position in shares of AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares in the last quarter. Bank of America Corp DE raised its stake in AbbVie by 1.4% in the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after purchasing an additional 356,394 shares during the last quarter. Norges Bank acquired a new position in AbbVie in the 4th quarter valued at $5,865,055,000. Finally, Capital Research Global Investors lifted its holdings in AbbVie by 0.7% in the 4th quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock valued at $5,805,530,000 after purchasing an additional 177,370 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABBV. Citigroup increased their target price 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. Evercore set a $235.00 price objective on shares of AbbVie in a research note on Friday, May 15th. Wolfe Research upgraded shares of AbbVie from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, August 13th. HSBC reissued a “buy” rating and issued a $300.00 target price on shares of AbbVie in a research note on Monday, July 6th. Finally, Barclays boosted their target price on AbbVie from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $275.95.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’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 completion of the sale, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

AbbVie Stock Up 0.6%

NYSE ABBV opened at $261.50 on Thursday. 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 $254.23 and its 200-day simple moving average is $229.67. The firm has a market cap 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 quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $16.80 billion. During the same quarter in the prior year, the firm posted $2.97 earnings per share. AbbVie’s quarterly revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Research analysts expect that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared 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 is 195.48%.

AbbVie 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.