267,461 Shares in AbbVie Inc. $ABBV Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 267,461 shares of the company’s stock, valued at approximately $67,304,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $28,000. Imprint Wealth LLC grew its position in shares of AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after purchasing an additional 45 shares during the period. Burk Holdings LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at approximately $30,000. IFC & Insurance Marketing Inc. acquired a new stake in AbbVie during the 4th quarter worth approximately $31,000. Finally, Abound Financial LLC bought a new position in AbbVie in the fourth quarter valued at approximately $32,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBV. Piper Sandler upped their price target on shares of AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Morgan Stanley restated an “overweight” rating and set a $296.00 price objective on shares of AbbVie in a report on Monday, August 3rd. Guggenheim boosted their price objective on shares of AbbVie from $261.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. 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. Finally, Erste Group Bank raised AbbVie from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $276.64.

AbbVie Stock Up 0.8%

Shares of ABBV opened at $257.17 on Friday. The stock has a market capitalization of $454.36 billion, a P/E ratio of 72.65, a P/E/G ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $267.47. The company has a 50 day moving average of $254.46 and a 200-day moving average of $230.94.

AbbVie (NYSE:ABBV) last announced 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. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The business had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the previous year, the firm posted $2.97 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared 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 2.7%. The ex-dividend date is Thursday, October 15th. AbbVie’s payout ratio is presently 195.48%.

More AbbVie News

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.

About AbbVie

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.