HighTower Advisors LLC Purchases 309,319 Shares of AbbVie Inc. $ABBV

HighTower Advisors LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 18.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,967,343 shares of the company’s stock after acquiring an additional 309,319 shares during the period. HighTower Advisors LLC’s holdings in AbbVie were worth $495,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Litman Gregory Wealth Management LLC purchased a new stake in AbbVie during the fourth quarter valued at $28,000. Imprint Wealth LLC lifted its position in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Legacy Wealth Managment LLC ID grew its stake in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after buying an additional 73 shares in the last quarter. IFC & Insurance Marketing Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $31,000. Finally, Abound Financial LLC bought a new stake in shares of AbbVie in the 4th quarter worth about $32,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent research reports. Erste Group Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Morgan Stanley reiterated an “overweight” rating and issued a $296.00 price target on shares of AbbVie in a research report on Monday, August 3rd. UBS Group boosted their price objective on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Bank of America upped their price objective on AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Barclays raised their price objective on AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.95.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

AbbVie Trading Down 0.1%

AbbVie stock opened at $264.61 on Tuesday. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47. The firm has a 50-day moving average price of $249.34 and a 200-day moving average price of $227.78. The firm has a market capitalization of $467.52 billion, a PE ratio of 74.75, a price-to-earnings-growth ratio of 0.88 and a beta of 0.30.

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, topping the consensus estimate of $3.61 by $0.04. The business had revenue of $16.99 billion during 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 firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last 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, sell-side analysts predict that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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