Baird Financial Group Inc. Has $513.96 Million Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Baird Financial Group increased its AbbVie stake by 4.7% in the second quarter, bringing its holdings to 2.04 million shares valued at approximately $513.96 million. Institutional investors and hedge funds collectively own 70.23% of ABBV.
• Analysts remain bullish on AbbVie: multiple firms raised their price targets, and the stock has a consensus “Moderate Buy” rating with an average target of $276.64.
• AbbVie exceeded quarterly earnings and revenue expectations, with EPS of $3.65 and revenue of $16.99 billion, while maintaining a quarterly dividend of $1.73 per share, representing a 2.7% yield.

Baird Financial Group Inc. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,042,445 shares of the company's stock after purchasing an additional 92,242 shares during the period. Baird Financial Group Inc. owned 0.12% of AbbVie worth $513,961,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. California State Teachers Retirement System increased its stake in shares of AbbVie by 25,250.3% in 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 buying an additional 676,755,361 shares during the period. State Street Corp lifted its stake in shares of AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company's stock worth $18,494,193,000 after acquiring an additional 1,119,274 shares during the period. Geode Capital Management LLC boosted its holdings in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares during the last quarter. Bank of America Corp DE boosted its holdings in AbbVie by 1.4% in the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company's stock valued at $5,900,617,000 after acquiring an additional 356,394 shares during the last quarter. Finally, Norges Bank acquired a new stake in AbbVie during the 4th quarter valued at approximately $5,865,055,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ABBV shares. Piper Sandler raised their price target on shares of AbbVie from $298.00 to $303.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. Barclays increased their price objective on shares of AbbVie from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Guggenheim lifted their target price on shares of AbbVie from $261.00 to $288.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $276.64.

AbbVie Trading Up 0.0%

ABBV opened at $257.17 on Monday. The company has a fifty day moving average price of $254.46 and a two-hundred day moving average price of $230.95. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $267.47. The company has a market cap of $454.36 billion, a P/E ratio of 72.65, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The business's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.97 EPS. 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 fiscal year.

AbbVie Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.7%. AbbVie's payout ratio is presently 195.48%.

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

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company'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 completion of the sale, the executive vice president owned 74,430 shares in the company, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

AbbVie Company Profile

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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