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Institutional investors boosted AbbVie shares despite below-expected earnings and executive stock sales.
In the second quarter, several institutional investors, including Peterson Wealth Services and PKO Investment Management, significantly increased their stakes in AbbVie, which reported Q2 earnings of $2.97 per share—below expectations—while revenue rose 6.6% year-over-year to $15.42 billion.
The stock, trading at $228.06 with a $402.87 billion market cap, has a consensus "Moderate Buy" rating and a price target of $234.80.
Executives Azita Saleki-Gerhardt and Nicholas Donoghoe sold a combined 55,665 shares in August, netting about $11 million.
AbbVie’s dividend yield is 2.9% with an annual payout of $6.56, though the payout ratio is 312.38%.
Key products include Humira, Skyrizi, Rinvoq, Imbruvica, and Venclexta.
Los inversores institucionales aumentaron las acciones de AbbVie a pesar de las ganancias inferiores a las esperadas y las ventas de acciones de ejecutivos.