AbbVie Inc. $ABBV Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP reduced its AbbVie position by 6.4%, selling 139,934 shares in the second quarter and retaining 2.06 million shares valued at approximately $519.3 million.
• Institutional investors own about 70.23% of AbbVie’s stock, while analysts maintain a favorable outlook with a consensus “Moderate Buy” rating and an average price target of $276.64.
• AbbVie reported quarterly revenue growth of 10.2% and EPS of $3.65, exceeding estimates; the company also declared a $1.73 quarterly dividend, though investors continue to monitor its reliance on Skyrizi and Rinvoq for growth.

Corient Private Wealth LP lowered its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,063,716 shares of the company's stock after selling 139,934 shares during the period. AbbVie comprises about 0.7% of Corient Private Wealth LP's investment portfolio, making the stock its 22nd biggest holding. Corient Private Wealth LP owned about 0.12% of AbbVie worth $519,337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. California State Teachers Retirement System raised its position in shares of AbbVie by 25,250.3% during the 2nd quarter. California State Teachers Retirement System now owns 679,435,549 shares of the company's stock worth $170,973,162,000 after purchasing an additional 676,755,361 shares during the period. State Street Corp boosted its position in AbbVie by 1.4% during the 4th quarter. State Street Corp now owns 80,940,931 shares of the company's stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares during the period. Geode Capital Management LLC grew its stake in 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 buying an additional 4,190,487 shares during the last quarter. Bank of America Corp DE grew its stake in AbbVie by 1.4% during 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 buying an additional 356,394 shares during the last quarter. Finally, Norges Bank acquired a new stake in AbbVie in the fourth quarter worth $5,865,055,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ABBV shares. JPMorgan Chase & Co. raised their target price on AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Bank of America restated a "buy" rating on shares of AbbVie in a research report on Tuesday. BNP Paribas Exane lifted their price objective on shares of AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Wolfe Research upgraded shares of AbbVie from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research report on Thursday, August 13th. Finally, Guggenheim boosted their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus price target of $276.64.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Positive Phase 3 menstrual-migraine results: Atogepant met the primary and secondary endpoints in the LUNA late-stage study, demonstrating reductions in menstrual migraine days along with positive safety and efficacy results. The data could support regulatory expansion of Qulipta into an indication with no specifically approved targeted therapies, potentially broadening AbbVie’s migraine franchise. AbbVie's Atogepant Meets Goal in Late-Stage Menstrual Migraine Study
• Positive Sentiment: Potentially more flexible treatment use: The results support intermittent preventive treatment around menstruation, which could expand Qulipta’s addressable market beyond continuous daily migraine prevention. Investors view the outcome as evidence of continued momentum in AbbVie’s migraine business. AbbVie Gains as Qulipta Opens a New Migraine Market
• Positive Sentiment: Additional pipeline catalyst: AbbVie completed its ECLIPSE migraine trial, setting up another potential data milestone for the company’s migraine portfolio. A favorable outcome could further strengthen its competitive position in the CGRP market.
• Neutral Sentiment: Dividend maintained: AbbVie declared a quarterly dividend of $1.73 per share, payable November 16 to shareholders of record October 15. The declaration reinforces the income appeal of ABBV but does not represent a new increase in the payout.
• Neutral Sentiment: Analyst confidence remains favorable: HSBC raised its price target to $315 from $300 while maintaining a Buy rating, reflecting optimism about AbbVie’s newer growth products and pipeline.
• Negative Sentiment: Ongoing concentration concerns: Investors continue to monitor AbbVie’s reliance on Skyrizi and Rinvoq to offset Humira’s patent-related decline. The stock’s elevated valuation also leaves less room for disappointment if pipeline launches or immunology growth slow.

AbbVie Stock Up 0.8%

NYSE:ABBV opened at $257.17 on Friday. The stock has a fifty day simple moving average of $254.46 and a 200 day simple moving average of $230.94. The firm has a market capitalization of $454.36 billion, a price-to-earnings ratio of 72.65, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29. 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 quarterly earnings data 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 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 the consensus estimate of $16.80 billion. During the same quarter in the previous year, the company earned $2.97 EPS. The business'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 analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, October 15th. AbbVie's dividend payout ratio is 195.48%.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction that occurred 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 transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. The trade was a 30.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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 across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott's diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie's immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.

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