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

Key Points

• Wedge Capital Management increased its AbbVie position by 7.5% in the second quarter, buying 9,380 additional shares for a total holding of 134,579 shares valued at approximately $33.9 million. Institutional investors and hedge funds collectively own 70.23% of ABBV.
• AbbVie beat quarterly expectations with $3.65 in EPS and $16.99 billion in revenue, up 10.2% year over year. The company also announced a quarterly dividend of $1.73 per share, equivalent to a 2.8% annualized yield.
• The company’s growth outlook is supported by strong Skyrizi and Rinvoq performance and shareholder approval of its approximately $10.9 billion Apogee Therapeutics acquisition, though funding the deal with roughly $8 billion of debt could increase leverage and interest costs.

Wedge Capital Management L L P NC grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Litman Gregory Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter valued at $28,000. Imprint Wealth LLC increased its stake in shares of AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after acquiring an additional 45 shares during the last quarter. Legacy Wealth Managment LLC ID raised its holdings in shares of AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock worth $31,000 after acquiring an additional 73 shares during the period. IFC & Insurance Marketing Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at about $31,000. Finally, WestEnd Advisors LLC boosted its position in shares of AbbVie by 160.4% during the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company's stock valued at $32,000 after acquiring an additional 85 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of ABBV stock opened at $249.73 on Wednesday. The company has a 50-day moving average of $243.35 and a two-hundred day moving average of $225.51. The firm has a market cap of $441.22 billion, a PE ratio of 70.54, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $267.47.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, beating the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The firm had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the prior year, the company posted $2.97 earnings per share. AbbVie'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. Sell-side analysts anticipate that AbbVie Inc. will post 14.07 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. HSBC restated a "buy" rating and set a $300.00 price objective on shares of AbbVie in a research report on Monday, July 6th. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. Morgan Stanley restated an "overweight" rating and set a $296.00 price target on shares of AbbVie in a report on Monday, August 3rd. Royal Bank Of Canada lifted their price target on shares of AbbVie from $260.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. upped their price objective on AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $274.33.

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.

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