QRG Capital Management Inc. Increases Stake in AbbVie Inc. $ABBV

QRG Capital Management Inc. grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,006 shares of the company’s stock after buying an additional 24,245 shares during the period. QRG Capital Management Inc.’s holdings in AbbVie were worth $75,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ranch Capital Advisors Inc. raised its stake in AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock valued at $3,238,000 after purchasing an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK increased its holdings in shares of AbbVie by 11.2% in the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock worth $112,516,000 after buying an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of AbbVie during the 2nd quarter valued at about $23,557,000. Wedge Capital Management L L P NC grew its position in AbbVie by 7.5% in the second quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock worth $33,865,000 after acquiring an additional 9,380 shares in the last quarter. Finally, Mission Wealth Management LP increased its stake in AbbVie by 119.1% during the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock worth $17,376,000 after acquiring an additional 37,531 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction dated 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 directly owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Key Stories Impacting AbbVie

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

AbbVie Stock Up 0.1%

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

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.04. The company 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%. AbbVie’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Equities analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 2.6%. The ex-dividend date is Thursday, October 15th. AbbVie’s payout ratio is 195.48%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABBV. Royal Bank Of Canada raised their price objective on AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Cantor Fitzgerald restated an “overweight” rating on shares of AbbVie in a research report on Wednesday, September 16th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price objective on shares of AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, UBS Group increased their target price on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Two equities research 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. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $276.64.

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.