Allworth Financial LP Sells 41,015 Shares of AbbVie Inc. $ABBV

Allworth Financial LP decreased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 15.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 222,751 shares of the company's stock after selling 41,015 shares during the quarter. Allworth Financial LP's holdings in AbbVie were worth $56,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in AbbVie by 25,250.3% during the second quarter. California State Teachers Retirement System now owns 679,435,549 shares of the company's stock valued at $170,973,162,000 after acquiring an additional 676,755,361 shares during the last quarter. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter worth about $5,865,055,000. Corient Private Wealth LP purchased a new position in shares of AbbVie during the 2nd quarter worth about $559,736,000. Legal & General Group Plc purchased a new position in shares of AbbVie during the 2nd quarter worth about $2,905,952,000. Finally, Wellington Management Group LLP grew its holdings in AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock valued at $2,439,714,000 after purchasing an additional 8,646,424 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Trending Headlines about AbbVie

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.

Insider Buying and Selling at AbbVie

In related 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 completion of the sale, the executive vice president directly 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 through the SEC website. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ABBV. Piper Sandler raised their price objective on shares of AbbVie from $298.00 to $303.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. UBS Group upped their target price on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley reiterated an "overweight" rating and issued a $296.00 price target on shares of AbbVie in a report on Monday, August 3rd. Sanford C. Bernstein reissued a "market perform" rating on shares of AbbVie in a research note on Tuesday, June 23rd. Finally, Cantor Fitzgerald increased their target price on AbbVie from $265.00 to $285.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.64.

AbbVie Stock Performance

AbbVie stock opened at $257.17 on Monday. The company has a 50 day moving average price of $254.46 and a 200-day moving average price of $230.95. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $267.47. The company has a market capitalization of $454.36 billion, a PE ratio of 72.65, a P/E/G ratio of 1.16 and a beta of 0.29.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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. The company had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.AbbVie's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, analysts forecast 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. Stockholders of record on Thursday, October 15th will be paid a dividend of $1.73 per share. The ex-dividend date is Thursday, October 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie's dividend payout ratio (DPR) is currently 195.48%.

About AbbVie

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.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.