Tenet Wealth Partners LLC Buys Shares of 2,019 AbbVie Inc. $ABBV

Tenet Wealth Partners LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 2,019 shares of the company’s stock, valued at approximately $519,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABBV. Norges Bank acquired a new position in AbbVie during the 4th quarter worth $5,865,055,000. Corient Private Wealth LP bought a new position in shares of AbbVie during the second quarter worth about $559,736,000. Legal & General Group Plc bought a new position in shares of AbbVie during the second quarter worth about $2,905,952,000. Wellington Management Group LLP grew its stake in AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after purchasing an additional 8,646,424 shares in the last quarter. Finally, Capital World Investors increased its holdings in AbbVie by 106.3% in the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after buying an additional 6,736,161 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Positive Phase 3 menstrual-migraine results: Atogepant met the primary and secondary endpoints in the LUNA late-stage study, demonstrating reductions in menstrual migraine days along with positive safety and efficacy results. The data could support regulatory expansion of Qulipta into an indication with no specifically approved targeted therapies, potentially broadening AbbVie’s migraine franchise. AbbVie’s Atogepant Meets Goal in Late-Stage Menstrual Migraine Study
• Positive Sentiment: Potentially more flexible treatment use: The results support intermittent preventive treatment around menstruation, which could expand Qulipta’s addressable market beyond continuous daily migraine prevention. Investors view the outcome as evidence of continued momentum in AbbVie’s migraine business. AbbVie Gains as Qulipta Opens a New Migraine Market
• Positive Sentiment: Additional pipeline catalyst: AbbVie completed its ECLIPSE migraine trial, setting up another potential data milestone for the company’s migraine portfolio. A favorable outcome could further strengthen its competitive position in the CGRP market.
• Neutral Sentiment: Dividend maintained: AbbVie declared a quarterly dividend of $1.73 per share, payable November 16 to shareholders of record October 15. The declaration reinforces the income appeal of ABBV but does not represent a new increase in the payout.
• Neutral Sentiment: Analyst confidence remains favorable: HSBC raised its price target to $315 from $300 while maintaining a Buy rating, reflecting optimism about AbbVie’s newer growth products and pipeline.
• Negative Sentiment: Ongoing concentration concerns: Investors continue to monitor AbbVie’s reliance on Skyrizi and Rinvoq to offset Humira’s patent-related decline. The stock’s elevated valuation also leaves less room for disappointment if pipeline launches or immunology growth slow.

Insiders Place Their Bets

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 transaction of $8,177,500.00. Following the completion of the transaction, the executive vice president directly owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on ABBV shares. Weiss Ratings upgraded AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. HSBC raised their price objective on AbbVie from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of AbbVie from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Guggenheim boosted 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. Finally, Evercore set a $235.00 price target on shares of AbbVie in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $276.64.

AbbVie Stock Performance

Shares of ABBV opened at $257.17 on Friday. AbbVie Inc. has a one year low of $190.75 and a one year high of $267.47. The stock’s fifty day moving average is $254.46 and its 200-day moving average is $230.94. The firm has a market capitalization of $454.36 billion, a price-to-earnings ratio of 72.65, a price-to-earnings-growth ratio of 1.15 and a beta of 0.29.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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 for 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 was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Analysts forecast that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $1.73 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s payout ratio is presently 195.48%.

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.