AbbVie Inc. $ABBV Shares Newly Bought by Geneva Partners LLC

Key Points

• Geneva Partners LLC purchased 11,942 AbbVie shares worth approximately $3.1 million in the third quarter, while other institutional investors also increased or initiated positions. Institutions collectively own 70.23% of AbbVie.
• AbbVie reported quarterly revenue of $16.99 billion, up 10.2% year over year, and earnings of $3.65 per share, exceeding analyst expectations. The company also declared a quarterly dividend of $1.73, equivalent to a 2.4% yield.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $279.86, while recent product news—including FDA approval of a subcutaneous SKYRIZI regimen—supports the company’s growth outlook.

Geneva Partners LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,942 shares of the company's stock, valued at approximately $3,124,000.

A number of other hedge funds also recently modified their holdings of the company. Sunesis Advisors LLC bought a new stake in shares of AbbVie during the third quarter valued at approximately $2,396,000. Westover Capital Advisors LLC raised its stake in shares of AbbVie by 2.5% in the 3rd quarter. Westover Capital Advisors LLC now owns 8,759 shares of the company's stock valued at $2,291,000 after buying an additional 210 shares in the last quarter. Peterson Wealth Services boosted its position in shares of AbbVie by 5.0% during the 3rd quarter. Peterson Wealth Services now owns 15,285 shares of the company's stock valued at $3,998,000 after acquiring an additional 728 shares in the last quarter. Leo Wealth LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at about $2,220,000. Finally, Apollon Wealth Management LLC increased its stake in AbbVie by 18.6% in the third quarter. Apollon Wealth Management LLC now owns 145,103 shares of the company's stock valued at $37,957,000 after acquiring an additional 22,722 shares during the period. Institutional investors own 70.23% of the company's stock.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The U.S. Food and Drug Administration approved a subcutaneous induction regimen for AbbVie’s SKYRIZI in adults with moderately to severely active Crohn’s disease. The needle-based treatment option may improve convenience and support the drug’s continued growth across immunology indications. FDA approves subcutaneous SKYRIZI regimen
• Positive Sentiment: Goldman Sachs raised its price target for ABBV to $294, signaling continued confidence in the company’s outlook and providing a bullish valuation reference. Goldman Sachs raises AbbVie price target
• Positive Sentiment: Reports that Citadel has built an approximately $900 million position in AbbVie may boost sentiment by highlighting institutional interest in the company’s dividend and growth profile. Citadel AbbVie position
• Neutral Sentiment: Options markets imply roughly a 5% move around the October 30 earnings release, indicating that investors expect significant volatility as they assess results and forward guidance. AbbVie options and earnings volatility
• Neutral Sentiment: Coverage continues to describe AbbVie as an attractive, income-focused “Dividend King,” although its high earnings multiple makes future performance dependent on sustained earnings growth. AbbVie Dividend King coverage
• Negative Sentiment: Erste Group Bank reduced its EPS forecast and expressed a weak outlook for AbbVie’s fiscal 2026 earnings, creating a counterweight to the favorable product and institutional news. Erste Group lowers AbbVie EPS forecast

AbbVie Trading Up 0.4%

Shares of NYSE ABBV opened at $286.88 on Tuesday. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $291.40. The company has a 50-day moving average of $266.18 and a two-hundred day moving average of $235.62. The company has a market cap of $506.85 billion, a PE ratio of 81.04, a P/E/G ratio of 1.30 and a beta of 0.24.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly 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 analyst estimates of $16.80 billion. During the same quarter last year, the business 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. As a group, equities research analysts forecast that AbbVie Inc. will post 13.93 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, October 15th. AbbVie's dividend payout ratio is currently 195.48%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Scotiabank raised their price target on shares of AbbVie from $280.00 to $320.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 6th. 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. Rothschild & Co Redburn lifted their price objective on AbbVie from $284.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. HSBC upped their target price on shares of AbbVie from $300.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, September 10th. Finally, Piper Sandler lifted 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $279.86.

Insider Transactions at AbbVie

In other AbbVie 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 transaction of $8,177,500.00. Following the completion of the sale, the executive vice president owned 74,430 shares of the company's stock, valued at approximately $18,607,500. The trade was a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

AbbVie Company Profile

AbbVie Inc NYSE: ABBV is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company's key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.

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