AbbVie Inc. $ABBV Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,579 shares of the company’s stock after purchasing an additional 9,380 shares during the quarter. Wedge Capital Management L L P NC’s holdings in AbbVie were worth $33,865,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $28,000. Imprint Wealth LLC grew its holdings in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after acquiring an additional 45 shares during the period. IFC & Insurance Marketing Inc. acquired a new position in AbbVie during the fourth quarter worth $31,000. Legacy Wealth Managment LLC ID raised its position in AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC raised its position in AbbVie by 160.4% in the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. Erste Group Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Evercore set a $235.00 price target on shares of AbbVie in a report on Friday, May 15th. Guggenheim raised their price objective 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. UBS Group boosted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $274.33.

AbbVie Stock Up 0.7%

Shares of AbbVie stock opened at $249.73 on Wednesday. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $267.47. The business’s fifty day moving average is $243.35 and its two-hundred day moving average is $225.51. The firm has a market cap of $441.22 billion, a PE ratio of 70.54, a P/E/G ratio of 0.82 and a beta of 0.30.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $16.80 billion. During the same period last year, the company earned $2.97 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Equities research analysts anticipate that AbbVie Inc. will post 14.07 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. AbbVie’s payout ratio is currently 195.48%.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Apogee Therapeutics shareholders approved AbbVie’s approximately $10.9 billion cash acquisition, helping remove a key closing hurdle. The deal is expected to expand AbbVie’s immunology pipeline with zumilokibart, an atopic dermatitis candidate advancing toward Phase 3 trials, while Apogee’s leadership transition is expected to support integration. Apogee Shareholders Approve AbbVie Acquisition and Leadership Transition
• Positive Sentiment: AbbVie’s Skyrizi and Rinvoq continued to drive strong quarterly growth through market-share gains and additional indications, reinforcing the company’s strategy for replacing revenue eventually pressured by Humira biosimilars. How Much Did Immunology Drugs Contribute to AbbVie’s Q2 Performance?
• Positive Sentiment: The FDA accepted a supplemental application to review Botox Cosmetic for treating masseter muscle prominence. Approval would create a potential fifth use for the brand and modestly broaden AbbVie’s aesthetics growth opportunity. AbbVie’s Botox Just Got A Step Closer To A Fifth Use
• Neutral Sentiment: BNP Paribas Exane raised its ABBV price target from $218 to $247 but maintained a Neutral rating, suggesting limited upside after the recent rally. BNP Paribas Exane AbbVie Price Target Update
• Neutral Sentiment: Investor commentary remains constructive on AbbVie’s dividend and valuation, with some analysts describing the stock as an attractive income-oriented healthcare investment after its solid second-quarter performance. Is AbbVie Stock a Buy After Posting Strong Q2 Earnings?
• Negative Sentiment: AbbVie is reportedly taking on roughly $8 billion of debt to help fund the Apogee transaction. While the acquisition could strengthen long-term growth, added leverage may increase interest costs and concern dividend investors if expected pipeline returns take longer to materialize. AbbVie Piles on $8 Billion in Debt for Its Apogee Deal
• Negative Sentiment: Erste Group Bank trimmed its FY2027 EPS forecast from $16.40 to $16.24, although it retained a Buy rating. The revision is a modest headwind amid ABBV’s elevated price-to-earnings multiple.

AbbVie Company 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.