AbbVie Inc. $ABBV Shares Acquired by Mission Wealth Management LP

Key Points

• Mission Wealth Management LP more than doubled its AbbVie holdings in the second quarter, increasing its position by 119.1% to 69,052 shares valued at approximately $17.4 million. Institutional investors and hedge funds collectively own 70.23% of AbbVie.
• Analysts maintain a broadly positive view, with AbbVie carrying a “Moderate Buy” consensus rating and an average price target of $274.33. Recent target increases included Wells Fargo to $295 and Cantor Fitzgerald to $285.
• AbbVie exceeded second-quarter expectations, reporting $3.65 in adjusted EPS and $16.99 billion in revenue, up 10.2% year over year. The company also declared a quarterly dividend of $1.73, equivalent to a 2.8% annual yield.

Mission Wealth Management LP lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 119.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,052 shares of the company's stock after buying an additional 37,531 shares during the period. Mission Wealth Management LP's holdings in AbbVie were worth $17,376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Vanguard Group Inc. boosted its stake in AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company's stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares during the period. State Street Corp raised its position in shares of AbbVie by 1.4% during the 4th quarter. State Street Corp now owns 80,940,931 shares of the company's stock worth $18,494,193,000 after purchasing an additional 1,119,274 shares during the period. Geode Capital Management LLC raised its position in shares of AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the period. Bank of America Corp DE lifted its holdings in shares of AbbVie by 1.4% in the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company's stock worth $5,900,617,000 after purchasing an additional 356,394 shares during the last quarter. Finally, Norges Bank acquired a new position in AbbVie during the 4th quarter valued at approximately $5,865,055,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Sanford C. Bernstein restated a "market perform" rating on shares of AbbVie in a research note on Tuesday, June 23rd. Erste Group Bank raised shares of AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Wells Fargo & Company upped their price target on shares of AbbVie from $260.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Weiss Ratings raised shares of AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Finally, Cantor Fitzgerald lifted their price objective on shares of AbbVie from $265.00 to $285.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $274.33.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Canada supports UBRELVY reimbursement: Canada’s Drug Agency recommended reimbursement of UBRELVY for acute migraine treatment in adults. The decision could improve access and provide another growth opportunity for AbbVie’s neuroscience portfolio. AbbVie Wins Canada Reimbursement Backing for Adult Migraine Treatment
• Positive Sentiment: BOTOX regulatory progress: AbbVie’s BOTOX filing helped attract investor attention, adding potential support for the aesthetics business and contributing to the stock’s recent strength. AbbVie Gains on Botox Filing
• Positive Sentiment: Immunology remains the key growth engine: Skyrizi and Rinvoq delivered strong sales, market-share gains and contributions from new indications, helping drive AbbVie’s second-quarter growth. Recent results also exceeded consensus estimates for earnings and revenue. How Much Did Immunology Drugs Contribute to AbbVie’s Q2 Performance?
• Neutral Sentiment: Pipeline updates provide optionality but limited immediate impact: AbbVie completed early testing of a venetoclax combination in high-risk myelodysplastic syndromes and completed a Phase 3 BOTOX jawline study. The updates advance development, but the reports did not provide definitive clinical results. AbbVie’s Venetoclax Combo in High-Risk MDS
• Neutral Sentiment: Analyst target increase reflects limited near-term upside: BNP Paribas Exane raised its price target from $218 to $247 while retaining a neutral rating, implying the shares were slightly above its revised valuation. Erste Group also modestly reduced its FY2027 EPS forecast but kept a Buy rating. BNP Paribas Exane AbbVie Price Target
• Negative Sentiment: Apogee acquisition increases leverage: Shareholders approved AbbVie’s Apogee Therapeutics acquisition, expanding the pipeline but requiring roughly $8 billion of additional debt. Investors focused on dividend safety may view the higher leverage and execution risk negatively. AbbVie Piles on $8 Billion in Debt for Its Apogee Deal

AbbVie Price Performance

ABBV opened at $249.12 on Thursday. The stock's 50 day moving average price is $243.99 and its 200 day moving average price is $225.73. The stock has a market cap of $440.14 billion, a P/E ratio of 70.37, a P/E/G ratio of 0.83 and a beta of 0.30. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $267.47.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly 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. The company had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Equities analysts anticipate that AbbVie Inc. will post 14.07 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie's dividend payout ratio is currently 195.48%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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