AbbVie Inc. $ABBV Stock Holdings Raised by China Universal Asset Management Co. Ltd.

Key Points

• China Universal Asset Management increased its AbbVie stake by 159% in the third quarter, holding 17,903 shares valued at approximately $4.7 million. Institutional investors collectively own 70.23% of AbbVie.
• AbbVie reported strong recent operating momentum, with quarterly revenue rising 10.2% year over year to $16.99 billion and EPS of $3.65 exceeding estimates. Growth from Skyrizi, Rinvoq and favorable QULIPTA trial results may help offset ongoing Humira patent-cliff concerns.
• Shares opened at $289.85, near their 52-week high, while analysts maintain a “Moderate Buy” consensus with an average price target of $279.86. AbbVie also declared a quarterly dividend of $1.73, representing a 2.4% annualized yield.

China Universal Asset Management Co. Ltd. increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 159.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,903 shares of the company's stock after buying an additional 10,990 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in AbbVie were worth $4,714,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of AbbVie by 1.7% during the second quarter. State Street Corp now owns 82,596,748 shares of the company's stock worth $20,784,646,000 after acquiring an additional 1,379,232 shares during the period. Corient Private Wealth LP acquired a new position in AbbVie during the 2nd quarter worth approximately $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 in the last quarter. Legal & General Group Plc purchased a new position in shares of AbbVie during the 2nd quarter worth approximately $2,905,952,000. Finally, Deutsche Bank AG lifted its holdings in shares of 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 period. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business's stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: QULIPTA delivered favorable Phase 3 results. AbbVie said its migraine-prevention treatment atogepant (QULIPTA) demonstrated superior efficacy and tolerability versus topiramate in the TEMPLE head-to-head study. The data could strengthen QULIPTA’s competitive position and support future growth. AbbVie’s QULIPTA Outperforms Topiramate in Phase 3 Migraine Prevention Study
• Positive Sentiment: Analysts expect a better-than-expected third quarter. The preview points to continued momentum from immunology drugs Skyrizi and Rinvoq, which are increasingly important as AbbVie replaces lost Humira revenue. A strong report and maintained or improved guidance could provide a near-term catalyst. AbbVie Q3 Preview
• Positive Sentiment: AbbVie filed for FDA review of etentamig. The multiple myeloma candidate is backed by a positive pivotal Phase 3 trial and could expand AbbVie’s oncology portfolio if approved. The monthly dosing schedule may also improve its commercial appeal. AbbVie Seeks FDA Approval for Etentamig
• Neutral Sentiment: Early-stage pipeline activity continues. An updated Phase 1 study of ABBV-7828 signals ongoing investment in new medicines, but the program remains preliminary and is unlikely to materially affect near-term earnings. AbbVie’s ABBV-7828 Trial
• Negative Sentiment: Patent-cliff concerns remain. Analysts continue to warn that Humira’s loss of exclusivity and future patent expirations could pressure revenue and earnings, placing greater importance on Skyrizi, Rinvoq, QULIPTA and the broader pipeline. AbbVie Still Strong Growth, but Patent Cliff Is Getting Closer

AbbVie Stock Up 1.3%

AbbVie stock opened at $289.85 on Friday. The firm has a market capitalization of $512.10 billion, a PE ratio of 26.31, a P/E/G ratio of 1.31 and a beta of 0.24. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $292.67. The firm's 50-day simple moving average is $268.69 and its 200 day simple moving average is $236.86.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $16.99 billion during the quarter, compared to analysts' expectations of $16.80 billion. During the same quarter in the previous year, the business posted $2.97 earnings per share. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 13.92 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders 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 2.4%. The ex-dividend date is Thursday, October 15th. AbbVie's dividend payout ratio is currently 195.48%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. HSBC upped their price objective on AbbVie from $300.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, September 10th. Leerink Partners boosted their target price on shares of AbbVie from $245.00 to $279.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Citigroup upped their price target on shares of AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Piper Sandler raised their price objective on shares of AbbVie from $298.00 to $303.00 and gave the company an "overweight" rating in a research note on Thursday, August 20th. Finally, Erste Group Bank raised shares of AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $279.86.

AbbVie 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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