Allworth Financial LP Acquires 251,927 Shares of AbbVie Inc. $ABBV

Key Points

• Allworth Financial more than doubled its AbbVie stake in the third quarter, adding 251,927 shares to reach 474,678 shares valued at about $124.2 million.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $297.46. AbbVie also beat quarterly earnings and revenue estimates, with sales up 10.3% year over year.
• AbbVie raised its quarterly dividend from $1.73 to $1.82 per share, equivalent to $7.28 annually and a 2.5% yield. Separately, EVP Jeffrey Stewart sold 40,619 shares for about $11.9 million.

Allworth Financial LP increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 113.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 474,678 shares of the company's stock after buying an additional 251,927 shares during the quarter. Allworth Financial LP's holdings in AbbVie were worth $124,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of AbbVie by 1.7% in the 2nd quarter. State Street Corp now owns 82,596,748 shares of the company's stock valued at $20,784,646,000 after acquiring an additional 1,379,232 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of AbbVie by 252.6% during the 3rd quarter. Fisher Asset Management LLC now owns 33,489,421 shares of the company's stock valued at $8,760,498,000 after acquiring an additional 23,991,451 shares in the last quarter. Corient Private Wealth LP acquired a new position in shares of AbbVie during the 2nd quarter valued at $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 purchasing an additional 106,091 shares during the period. Finally, Legal & General Group Plc purchased a new stake in AbbVie during the 2nd quarter worth $2,905,952,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABBV shares. Barclays increased their price target on AbbVie from $300.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, October 21st. Guggenheim upped their target price on AbbVie from $288.00 to $322.00 and gave the stock a "buy" rating in a research report on Monday, November 2nd. Rothschild & Co Redburn upped their target price on AbbVie from $284.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. increased their target price on AbbVie from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, October 8th. Finally, Leerink Partners raised their target price on AbbVie from $309.00 to $342.00 and gave the company an "outperform" rating in a report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $297.46.

Insider Activity at AbbVie

In other news, EVP Jeffrey Stewart sold 40,619 shares of the business's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $293.60, for a total value of $11,925,738.40. Following the completion of the sale, the executive vice president directly owned 83,171 shares in the company, valued at approximately $24,419,005.60. The trade was a 32.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

Top AbbVie Stories

These are some of the ABBV stories that stood out recently:

• Positive Sentiment: AbbVie’s immunology sales rose 16.6% in the third quarter, with Skyrizi and Rinvoq growth more than offsetting Humira’s decline. The performance has supported higher 2026 sales expectations and strengthens the case that newer drugs can sustain growth. How Did AbbVie’s Immunology Franchise Fare in Q3?
• Neutral Sentiment: AbbVie’s licensing agreement with Nxera Pharma for an inflammatory bowel disease program adds a potential pipeline opportunity, but requires AbbVie to make an upfront payment and could involve substantial milestone payments. The deal’s longer-term value depends on development and commercial success. AbbVie Deal Altering the Investment Case for Nxera Pharma?
• Negative Sentiment: Executive Vice President Jeffrey Stewart sold 40,619 shares for about $11.9 million, reducing his direct holdings by 32.81%. Insider sales can weigh on sentiment, though the filing does not explain the reason for the transaction. SEC Form 4 filing

AbbVie Stock Performance

Shares of NYSE ABBV opened at $294.75 on Friday. AbbVie Inc. has a 1 year low of $190.75 and a 1 year high of $302.93. The stock's 50-day simple moving average is $274.82 and its 200-day simple moving average is $240.55. The firm has a market cap of $521.01 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.34 and a beta of 0.20.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, topping analysts' consensus estimates of $3.73 by $0.09. The business had revenue of $17.40 billion during the quarter, compared to the consensus estimate of $17.32 billion. AbbVie had a net margin of 15.67% and a negative return on equity of 450.55%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 13.98 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Stockholders of record on Friday, January 15th will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, January 15th. This is a positive change from AbbVie's previous quarterly dividend of $1.73. AbbVie's payout ratio is 119.10%.

AbbVie Profile

AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas. Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.

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