AbbVie Inc. $ABBV Stake Reduced by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its AbbVie stake by 23.1% in the third quarter, selling 4,918 shares and retaining 16,376 shares valued at approximately $4.28 million. Institutional investors and hedge funds collectively own 70.23% of AbbVie.
• Analysts remain broadly positive, with AbbVie receiving a consensus “Moderate Buy” rating and an average price target of $277.18. Recent results exceeded expectations, including quarterly EPS of $3.65 and revenue of $16.99 billion, up 10.2% year over year.
• AbbVie declared a quarterly dividend of $1.73 per share, equivalent to $6.92 annually and a 2.5% yield. Investors continue to monitor Humira’s sales erosion, competition in immunology, and whether Skyrizi and Rinvoq can sustain growth.

Perpetual Ltd lessened its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 23.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,376 shares of the company's stock after selling 4,918 shares during the period. Perpetual Ltd's holdings in AbbVie were worth $4,284,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp raised its position in shares of AbbVie by 1.7% in the second quarter. State Street Corp now owns 82,596,748 shares of the company's stock valued at $20,784,646,000 after purchasing an additional 1,379,232 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AbbVie by 0.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company's stock worth $3,590,323,000 after buying an additional 106,091 shares during the period. Legal & General Group Plc acquired a new position in AbbVie in the 2nd quarter valued at about $2,905,952,000. Deutsche Bank AG grew its stake in AbbVie by 13.0% in the 2nd quarter. Deutsche Bank AG now owns 10,772,949 shares of the company's stock valued at $2,710,905,000 after buying an additional 1,241,587 shares during the last quarter. Finally, Amundi grew its stake in AbbVie by 2.4% in the 1st quarter. Amundi now owns 10,698,095 shares of the company's stock valued at $2,326,728,000 after buying an additional 247,689 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. HSBC increased their target price on AbbVie from $300.00 to $315.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 5th. Citigroup upped their price objective on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Cantor Fitzgerald increased their price objective on AbbVie from $285.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, October 8th. Finally, BNP Paribas Exane lifted their target price on AbbVie from $218.00 to $247.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $277.18.

AbbVie Stock Down 2.2%

Shares of NYSE:ABBV opened at $274.82 on Wednesday. The company's 50 day moving average price is $260.41 and its two-hundred day moving average price is $237.87. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $283.43. The firm has a market cap of $485.55 billion, a PE ratio of 25.86, a PEG ratio of 1.28 and a beta of 0.24.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The company had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. During the same period last year, the firm earned $2.97 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, research analysts expect that AbbVie Inc. will post 13.95 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Thursday, October 15th. AbbVie's dividend payout ratio (DPR) is 195.48%.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Potential Q3 revenue beat: RBC expects AbbVie to exceed third-quarter revenue estimates, driven by continued momentum for immunology drugs Skyrizi and Rinvoq, as well as psychiatric medicine Vraylar. This supports expectations that newer products can offset Humira’s loss of exclusivity. AbbVie Poised for Q3 Top-Line Beat Driven by Rinvoq, Skyrizi, and Vraylar Therapies, RBC Says
• Positive Sentiment: Encouraging Skyrizi data: New Phase 3 AFFIRM results showed favorable clinical and endoscopic outcomes for subcutaneous Skyrizi in patients with moderately to severely active Crohn’s disease. The data could strengthen Skyrizi’s position in a major growth market and expand AbbVie’s immunology opportunity. AbbVie Presents New Phase 3 AFFIRM Data
• Positive Sentiment: Pipeline and analyst support: Recent Crohn’s disease data for Skyrizi and Rinvoq, cancer-related regulatory milestones for Temab-A, and early metabolic-treatment data are improving the outlook for AbbVie’s post-Humira growth. RBC reaffirmed its “Outperform” rating, although its target implies only limited additional upside. AbbVie Could Be 44% Below Fair Value on Fresh Pipeline Wins
• Neutral Sentiment: Strategic expansion: AbbVie’s acquisition of Apogee and related leadership moves highlight the company’s effort to replenish its pipeline through business development, but the long-term financial impact remains uncertain. Biotech Builder Paragon Imports Apogee’s Top Brass After AbbVie Buyout
• Negative Sentiment: Valuation and execution risks: At a high earnings multiple near its recent peak, ABBV may be vulnerable to profit-taking even with positive clinical news. Investors also remain concerned about Humira’s ongoing sales erosion, increasing immunology competition, and whether Skyrizi and Rinvoq can sustain their rapid growth.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

About AbbVie

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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