Wallace Capital Management Inc. Takes Position in AbbVie Inc. $ABBV

Wallace Capital Management Inc. purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,165 shares of the company’s stock, valued at approximately $545,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caisse de depot et placement du Quebec acquired a new stake in AbbVie in the second quarter valued at $413,100,000. Gallagher Fiduciary Advisors LLC acquired a new position in AbbVie during the 2nd quarter worth $1,386,000. Sonoma Private Wealth LLC bought a new stake in shares of AbbVie in the 2nd quarter worth about $854,000. Invst LLC bought a new stake in shares of AbbVie in the 2nd quarter worth about $659,000. Finally, Councilmark Asset Management LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at about $2,803,000. Institutional investors own 70.23% of the company’s stock.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Etentamig delivers a major Phase 3 win: AbbVie said its investigational BCMA x CD3 therapy met both primary endpoints in the CERVINO trial for relapsed/refractory multiple myeloma. Etentamig produced a 74% objective response rate versus 45.7% for standard therapies and reduced the risk of disease progression or death by 60%. The results could support a regulatory submission and give AbbVie an opportunity to compete in the growing BCMA-targeted treatment market. AbbVie Announces Positive Topline Results from the Phase 3 CERVINO Trial
• Positive Sentiment: Apogee acquisition expands immunology pipeline: AbbVie completed its approximately $10.9 billion purchase of Apogee Therapeutics. The deal adds late-stage zumilokibart for atopic dermatitis and additional respiratory and inflammatory disease programs, potentially strengthening growth beyond Humira. AbbVie Completes Acquisition of Apogee Therapeutics
• Positive Sentiment: Growth products continue to offset Humira erosion: Skyrizi and Rinvoq remain key drivers, with reported second-quarter sales growth of 24% and 25%, respectively. AbbVie’s established dividend record and broader pipeline also support the long-term investment case.
• Neutral Sentiment: Financial guidance was reaffirmed: AbbVie maintained its 2026 adjusted EPS outlook of $13.87–$14.07 and third-quarter guidance of $3.84–$3.88. However, the Apogee transaction is expected to dilute earnings initially before becoming accretive later in the decade. AbbVie Completes Acquisition of Apogee Therapeutics
• Negative Sentiment: Humira remains a significant headwind: The flagship drug’s revenue continues to fall following biosimilar competition, raising questions about how quickly newer products can replace the lost cash flow and support future dividend growth.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. Wolfe Research raised shares of AbbVie from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, August 13th. UBS Group upped their price objective on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. BMO Capital Markets increased their target price on AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Piper Sandler lifted their target price on AbbVie from $298.00 to $303.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on AbbVie from $260.00 to $280.00 and gave the company 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $275.95.

AbbVie Stock Down 1.5%

Shares of NYSE:ABBV opened at $256.27 on Friday. The company has a market cap of $452.78 billion, a PE ratio of 72.39, a P/E/G ratio of 1.18 and a beta of 0.29. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $267.47. The firm has a 50-day simple moving average of $254.66 and a 200 day simple moving average of $230.06.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm had revenue of $16.99 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter last year, the company posted $2.97 earnings per share. AbbVie’s revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, research analysts forecast that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were issued a $1.73 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is 195.48%.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s 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 in the company, valued at $18,607,500. This represents a 30.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

AbbVie 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.