Amundi Sells 658,806 Shares of AbbVie Inc. $ABBV

Key Points

• Amundi reduced its AbbVie stake by 6.2%, selling 658,806 shares and retaining 10.04 million shares valued at approximately $2.53 billion. Institutional investors collectively own 70.23% of AbbVie.
• Analyst sentiment remains favorable: multiple firms raised their price targets, with AbbVie receiving a consensus “Moderate Buy” rating and an average target price of $276.64.
• AbbVie reported quarterly earnings and revenue above expectations, with revenue up 10.2% year over year. Shares opened at $257.17, while the company maintained its $1.73 quarterly dividend, equating to a 2.7% yield.

Amundi decreased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,039,289 shares of the company's stock after selling 658,806 shares during the quarter. AbbVie comprises about 0.6% of Amundi's portfolio, making the stock its 25th biggest holding. Amundi owned about 0.57% of AbbVie worth $2,526,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in ABBV. Litman Gregory Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at $28,000. Imprint Wealth LLC grew its position in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Burk Holdings LLC bought a new stake in shares of AbbVie in the second quarter valued at approximately $30,000. IFC & Insurance Marketing Inc. bought a new stake in AbbVie during the fourth quarter worth about $31,000. Finally, Abound Financial LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. Cantor Fitzgerald raised their price objective on AbbVie from $265.00 to $285.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Wells Fargo & Company boosted their price objective on shares of AbbVie from $295.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, August 17th. Morgan Stanley reissued an "overweight" rating and set a $296.00 target price on shares of AbbVie in a research report on Monday, August 3rd. Erste Group Bank upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Finally, Piper Sandler boosted their price target on shares of AbbVie from $298.00 to $303.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to 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.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

AbbVie Trading Up 0.8%

AbbVie stock opened at $257.17 on Friday. 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. The firm's fifty day moving average price is $254.46 and its two-hundred day moving average price is $230.94. 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 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 during the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the previous year, the firm posted $2.97 earnings per share. The firm'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 forecast that AbbVie Inc. will post 14.05 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 issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, October 15th. AbbVie's payout ratio 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.

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