AbbVie Inc. $ABBV Shares Acquired by Wedmont Private Capital

Key Points

• Wedmont Private Capital increased its AbbVie stake by 12.5% in the third quarter, bringing its holdings to 49,199 shares valued at approximately $13.4 million. Institutional investors and hedge funds collectively own 70.23% of ABBV.
• AbbVie reported quarterly revenue of $16.99 billion, up 10.2% year over year, and earnings of $3.65 per share, exceeding analyst expectations. Newer medicines are helping offset declining Humira revenue.
• AbbVie announced a quarterly dividend of $1.73 per share, equivalent to a $6.92 annualized payout and a 2.5% yield, while analysts maintain a generally positive outlook with an average “Moderate Buy” rating and a $277.18 target price.

Wedmont Private Capital raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,199 shares of the company's stock after purchasing an additional 5,468 shares during the period. Wedmont Private Capital's holdings in AbbVie were worth $13,403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ACT Advisors LLC. increased its stake in AbbVie by 2.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,688 shares of the company's stock worth $425,000 after acquiring an additional 41 shares during the period. Willner & Heller LLC increased its position in shares of AbbVie by 0.7% in the second quarter. Willner & Heller LLC now owns 5,852 shares of the company's stock worth $1,472,000 after purchasing an additional 43 shares during the period. B.O.S.S. Retirement Advisors LLC raised its stake in AbbVie by 3.1% in the second quarter. B.O.S.S. Retirement Advisors LLC now owns 1,427 shares of the company's stock valued at $359,000 after purchasing an additional 43 shares in the last quarter. Fielder Capital Group LLC lifted its position in AbbVie by 1.7% during the second quarter. Fielder Capital Group LLC now owns 2,532 shares of the company's stock worth $637,000 after purchasing an additional 43 shares during the period. Finally, Guardian Wealth Advisors LLC NC grew its stake in AbbVie by 0.4% during the second quarter. Guardian Wealth Advisors LLC NC now owns 11,906 shares of the company's stock worth $2,996,000 after buying an additional 43 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 1.4%

Shares of ABBV opened at $276.24 on Friday. The stock's 50-day moving average price is $259.06 and its two-hundred day moving average price is $236.63. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $277.60. The company has a market capitalization of $488.06 billion, a PE ratio of 78.03, a PEG ratio of 1.24 and a beta of 0.24.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter in the prior year, the firm posted $2.97 EPS. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Equities research analysts predict that AbbVie Inc. will post 13.97 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid 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 2.5%. AbbVie's dividend payout ratio (DPR) is currently 195.48%.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction on Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the sale, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. The trade was a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: FDA breakthrough designations strengthen AbbVie’s oncology pipeline. The FDA granted two Breakthrough Therapy designations to Temab-A (telisotuzumab adizutecan) for colorectal cancer and non-small cell lung cancer. The designation can accelerate development and regulatory review, although it does not guarantee approval or commercial success. AbbVie’s Temab-A Gets Two FDA Breakthrough Therapy Tags in Cancer
• Positive Sentiment: Analysts raised their valuation targets. JPMorgan increased its target to $300 and maintained an overweight rating, while Cantor Fitzgerald lifted its target to $290 and Guggenheim reaffirmed a buy rating with a $288 target. These actions suggest analysts see additional upside from AbbVie’s growth products and pipeline. Cantor Fitzgerald Lifts Price Targets on Four Pharma Giants
• Positive Sentiment: New products are more than offsetting Humira’s patent-loss decline. Humira revenue fell 35.9% to $756 million, but total quarterly revenue rose 10.2% to $16.99 billion. The performance indicates that immunology, neuroscience and other newer medicines are successfully replacing the former blockbuster. AbbVie Outgrew Humira’s Collapse
• Neutral Sentiment: Valuation and income appeal remain part of the debate. AbbVie’s dividend and defensive characteristics may attract income-focused investors, but the stock’s elevated valuation means continued earnings and pipeline execution are important to justify further gains. Treasury Bills or Dividend Stocks

Analyst Ratings Changes

A number of analysts have recently weighed in on ABBV shares. Scotiabank upped their price target on shares of AbbVie from $280.00 to $320.00 and gave the stock an "outperform" rating in a report on Tuesday. HSBC boosted their price objective on shares of AbbVie from $300.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. Bank of America restated a "buy" rating on shares of AbbVie in a research note on Tuesday, September 8th. Cantor Fitzgerald lifted their price target on AbbVie from $285.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Oppenheimer boosted their price target on AbbVie from $244.00 to $258.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $277.18.

AbbVie Company Profile

AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women's health.

The company's products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.

AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.

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