Corient Private Wealth LP Takes Position in AbbVie Inc. $ABBV

Key Points

• Corient Private Wealth LP acquired 19.6 million AbbVie shares worth approximately $559.7 million, giving it a 1.11% stake. Institutional investors collectively own 70.23% of the company.
• AbbVie reported second-quarter adjusted EPS of $3.65 and revenue of $16.99 billion, beating expectations, while Skyrizi and Rinvoq sales rose 24% and 25%, respectively. The company reaffirmed its 2026 adjusted EPS outlook of $13.87–$14.07.
• Pipeline expansion supports the growth outlook: Etentamig delivered positive Phase 3 multiple-myeloma results, and AbbVie completed its roughly $10.9 billion Apogee Therapeutics acquisition. However, Humira’s biosimilar-driven decline and near-term earnings dilution from the acquisition remain key risks.

Corient Private Wealth LP acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,571,862 shares of the company's stock, valued at approximately $559,736,000. Corient Private Wealth LP owned about 1.11% of AbbVie at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ABBV. Norges Bank bought a new stake in shares of AbbVie in the fourth quarter worth approximately $5,865,055,000. Legal & General Group Plc bought a new position in AbbVie during the second quarter valued at approximately $2,905,952,000. Wellington Management Group LLP boosted its holdings in AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock worth $2,439,714,000 after purchasing an additional 8,646,424 shares during the last quarter. Capital World Investors boosted its holdings in AbbVie by 106.3% in the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company's stock worth $2,986,777,000 after purchasing an additional 6,736,161 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in AbbVie in the 2nd quarter worth approximately $1,560,354,000. 70.23% of the stock is currently owned by institutional investors.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Etentamig delivers a major Phase 3 win: AbbVie said its investigational BCMA x CD3 therapy met both primary endpoints in the CERVINO trial for relapsed/refractory multiple myeloma. Etentamig produced a 74% objective response rate versus 45.7% for standard therapies and reduced the risk of disease progression or death by 60%. The results could support a regulatory submission and give AbbVie an opportunity to compete in the growing BCMA-targeted treatment market. AbbVie Announces Positive Topline Results from the Phase 3 CERVINO Trial
• Positive Sentiment: Apogee acquisition expands immunology pipeline: AbbVie completed its approximately $10.9 billion purchase of Apogee Therapeutics. The deal adds late-stage zumilokibart for atopic dermatitis and additional respiratory and inflammatory disease programs, potentially strengthening growth beyond Humira. AbbVie Completes Acquisition of Apogee Therapeutics
• Positive Sentiment: Growth products continue to offset Humira erosion: Skyrizi and Rinvoq remain key drivers, with reported second-quarter sales growth of 24% and 25%, respectively. AbbVie’s established dividend record and broader pipeline also support the long-term investment case.
• Neutral Sentiment: Financial guidance was reaffirmed: AbbVie maintained its 2026 adjusted EPS outlook of $13.87–$14.07 and third-quarter guidance of $3.84–$3.88. However, the Apogee transaction is expected to dilute earnings initially before becoming accretive later in the decade. AbbVie Completes Acquisition of Apogee Therapeutics
• Negative Sentiment: Humira remains a significant headwind: The flagship drug’s revenue continues to fall following biosimilar competition, raising questions about how quickly newer products can replace the lost cash flow and support future dividend growth.

AbbVie Trading Down 1.5%

Shares of ABBV stock opened at $256.27 on Friday. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $267.47. The stock has a market cap of $452.78 billion, a P/E ratio of 72.39, a P/E/G ratio of 1.16 and a beta of 0.29. The company has a 50 day simple moving average of $254.66 and a two-hundred day simple moving average of $230.06.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.04. The business had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were issued a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 195.48%.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie 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 directly owned 74,430 shares in the company, valued at approximately $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of AbbVie from $258.00 to $300.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. HSBC restated a "buy" rating and issued a $300.00 price target on shares of AbbVie in a research note on Monday, July 6th. Wells Fargo & Company lifted their price objective on AbbVie from $295.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. UBS Group upped their price objective on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Finally, Piper Sandler increased their target price on AbbVie from $298.00 to $303.00 and gave the company an "overweight" rating in a 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 given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $275.95.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

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