Envestnet Asset Management Inc. Acquires 33,103 Shares of AbbVie Inc. $ABBV

Envestnet Asset Management Inc. lifted its stake in AbbVie Inc. (NYSE:ABBV) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,886,670 shares of the company’s stock after purchasing an additional 33,103 shares during the quarter. Envestnet Asset Management Inc. owned about 0.28% of AbbVie worth $1,229,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of AbbVie by 1.7% in the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after acquiring an additional 1,379,232 shares during the last quarter. Premier Financial Group bought a new position in AbbVie in the 2nd quarter worth about $250,000. Security National Bank of Sioux City Iowa IA grew its position in AbbVie by 13.3% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 16,964 shares of the company’s stock valued at $4,269,000 after purchasing an additional 1,995 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its position in AbbVie by 0.4% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 29,167 shares of the company’s stock valued at $7,340,000 after purchasing an additional 115 shares during the last quarter. Finally, Bullseye Investment Management LLC bought a new stake in AbbVie during the 2nd quarter valued at about $170,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several analyst reports. Wolfe Research upgraded shares of AbbVie from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, August 13th. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Citigroup upped 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. Piper Sandler increased their target price on AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Finally, Erste Group Bank raised AbbVie from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $276.64.

AbbVie Stock Up 0.1%

Shares of NYSE ABBV traded up $0.22 during trading on Wednesday, reaching $265.43. 3,445,647 shares of the company traded hands, compared to its average volume of 6,531,572. The firm has a 50 day simple moving average of $256.31 and a 200-day simple moving average of $232.58. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $269.39. The stock has a market capitalization of $468.96 billion, a PE ratio of 74.98, a P/E/G ratio of 1.19 and a beta of 0.29.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 10.2% on a year-over-year basis. 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, research analysts predict that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, October 15th. AbbVie’s dividend payout ratio is presently 195.48%.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Rinvoq wins EU approval for pediatric arthritis: The European Commission approved Rinvoq for children aged two and older with active polyarticular juvenile idiopathic arthritis who have not responded adequately to, or cannot tolerate, at least one DMARD. The approval adds a new pediatric use, includes an oral solution, and brings Rinvoq to 11 approved indications in Europe. The commercial impact is likely modest initially, but the decision expands the drug’s addressable population and reinforces its growth potential. AbbVie Announces European Commission Approval of Rinvoq
• Positive Sentiment: Potential pipeline collaboration: Iambic reportedly filed for an IPO after signing AbbVie as a partner. Although financial terms and the specific assets involved were not provided, the arrangement could give AbbVie access to additional computational drug-discovery capabilities and future pipeline opportunities. Iambic files IPO after signing AbbVie as new partner
• Neutral Sentiment: Aesthetic business initiatives: Allergan Aesthetics launched AA Signature with SKIN360 in the United States, a multimodal consultation and provider-education program. The initiative may support customer engagement and procedure demand, but no immediate revenue impact was disclosed. Allergan Aesthetics Debuts AA Signature
• Negative Sentiment: Bearish analyst commentary: A Seeking Alpha analysis argues that revenue pressure and weakening earnings support a “sell” view. This contrasts with AbbVie’s latest reported quarterly revenue growth and earnings beat, but highlights investor concerns over the sustainability of growth and the stock’s elevated valuation. AbbVie: Revenue Pressure And Weakening Earnings Support a Sell

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’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 in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is owned by insiders.

AbbVie Company Profile

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott’s diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie’s immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.