Arizona State Retirement System Has $123.50 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Arizona State Retirement System increased its AbbVie holdings by 1.3% in the second quarter to 490,797 shares valued at approximately $123.5 million. Institutional investors and hedge funds collectively own 70.23% of ABBV.
• AbbVie reported quarterly EPS of $3.65 and revenue of $16.99 billion, exceeding analyst expectations, while revenue rose 10.2% year over year. Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $276.64.
• Pipeline momentum remains a potential catalyst: Atogepant delivered positive Phase 3 results for menstrual migraine, and the company completed another migraine trial. However, investors continue to monitor AbbVie’s reliance on Skyrizi and Rinvoq, elevated valuation, and Humira’s patent-related decline.

Arizona State Retirement System raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 490,797 shares of the company's stock after buying an additional 6,500 shares during the period. AbbVie comprises approximately 0.6% of Arizona State Retirement System's investment portfolio, making the stock its 25th biggest holding. Arizona State Retirement System's holdings in AbbVie were worth $123,504,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ABBV. Waverly Advisors LLC boosted its position in AbbVie by 43.6% during the second quarter. Waverly Advisors LLC now owns 322,558 shares of the company's stock worth $81,168,000 after purchasing an additional 97,882 shares during the period. Empirical Finance LLC lifted its stake in shares of AbbVie by 3.5% during the 2nd quarter. Empirical Finance LLC now owns 61,181 shares of the company's stock worth $15,396,000 after buying an additional 2,051 shares during the last quarter. Nykredit A S acquired a new stake in shares of AbbVie during the 2nd quarter worth about $150,038,000. Parkside Financial Bank & Trust boosted its holdings in shares of AbbVie by 2.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 29,261 shares of the company's stock worth $7,363,000 after buying an additional 630 shares during the period. Finally, Kinetic Wealth Investment Advisors LLC bought a new stake in shares of AbbVie during the 2nd quarter worth about $298,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie News Roundup

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 Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the transaction, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

AbbVie Stock Up 0.0%

Shares of AbbVie stock opened at $257.17 on Monday. The stock 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. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $267.47. The company has a 50-day simple moving average of $254.46 and a two-hundred day simple moving average of $230.95.

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 firm had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the prior year, the business posted $2.97 EPS. The business's revenue was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. AbbVie's dividend payout ratio is currently 195.48%.

Analyst Ratings Changes

Several research analysts have weighed in on ABBV shares. Bank of America reissued a "buy" rating on shares of AbbVie in a report on Tuesday, September 8th. Erste Group Bank upgraded AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. BMO Capital Markets upped their target price on AbbVie from $258.00 to $300.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Morgan Stanley reiterated an "overweight" rating and set a $296.00 target price on shares of AbbVie in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. lifted their price target on AbbVie from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $276.64.

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.

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.