Te Ahumairangi Investment Management Ltd Invests $5.30 Million in AbbVie Inc. $ABBV

Te Ahumairangi Investment Management Ltd purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, Holdings Channel reports. The fund purchased 21,083 shares of the company’s stock, valued at approximately $5,305,000.

Several other hedge funds have also recently bought and sold shares of ABBV. Burk Holdings LLC purchased a new position in AbbVie during the 2nd quarter valued at about $30,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $28,000. Imprint Wealth LLC lifted its position in shares of AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. IFC & Insurance Marketing Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $31,000. Finally, Legacy Wealth Managment LLC ID boosted its holdings in shares of AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. This represents 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 link. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Bank of America upped their price objective on shares of AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Guggenheim lifted their target price on shares of AbbVie from $261.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Canaccord Genuity Group boosted their price target on shares of AbbVie from $282.00 to $290.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Cantor Fitzgerald upped their price target on shares of AbbVie from $265.00 to $285.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. increased their price objective on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.95.

AbbVie Stock Performance

NYSE:ABBV opened at $261.50 on Thursday. The stock’s 50 day moving average price is $254.23 and its 200 day moving average price is $229.67. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $267.47. The company has a market capitalization of $462.02 billion, a P/E ratio of 73.87, a P/E/G ratio of 1.18 and a beta of 0.29.

AbbVie (NYSE:ABBV) last posted its earnings results 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. The firm had revenue of $16.99 billion during the quarter, compared to analysts’ expectations of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company 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 forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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