Cullen Capital Management LLC Makes New Investment in AbbVie Inc. $ABBV

Key Points

• Cullen Capital Management initiated a position in AbbVie during the second quarter, purchasing 7,152 shares valued at approximately $1.8 million. Institutional investors collectively own 70.23% of the company.
• Analysts maintain a generally positive outlook, with AbbVie receiving a “Moderate Buy” consensus rating and an average price target of $275.95. Several firms recently raised their price targets to between $276 and $300.
• AbbVie exceeded quarterly earnings and revenue expectations, reporting $3.65 in EPS and $16.99 billion in revenue, while revenue grew 10.2% year over year. The company also pays a quarterly dividend of $1.73, equivalent to a 2.7% annualized yield.

Cullen Capital Management LLC bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,152 shares of the company's stock, valued at approximately $1,800,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ranch Capital Advisors Inc. raised its stake in shares of AbbVie by 37.0% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock worth $3,238,000 after buying an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK boosted its stake in AbbVie by 11.2% in the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company's stock worth $112,516,000 after purchasing an additional 45,132 shares during the period. Danica Pension Livsforsikringsaktieselskab acquired a new position in AbbVie during the second quarter valued at $23,557,000. Wedge Capital Management L L P NC lifted its position in shares of AbbVie by 7.5% in the second quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company's stock worth $33,865,000 after purchasing an additional 9,380 shares in the last quarter. Finally, Mission Wealth Management LP increased its stake in shares of AbbVie by 119.1% in the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company's stock worth $17,376,000 after acquiring an additional 37,531 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the transaction, the executive vice president directly owned 74,430 shares of the company's stock, valued at approximately $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ABBV shares. JPMorgan Chase & Co. raised their price target on AbbVie from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Bank of America increased their price objective on AbbVie from $234.00 to $276.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Weiss Ratings upgraded shares of AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. HSBC reaffirmed a "buy" rating and issued a $300.00 price objective on shares of AbbVie in a research note on Monday, July 6th. Finally, Royal Bank Of Canada upped their price objective on shares of AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Two research 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 presently has an average rating of "Moderate Buy" and an average price target of $275.95.

AbbVie Price Performance

ABBV opened at $260.69 on Friday. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $267.47. The firm's fifty day moving average price is $254.57 and its two-hundred day moving average price is $229.87. The company has a market capitalization of $460.58 billion, a P/E ratio of 73.64, a P/E/G ratio of 1.18 and a beta of 0.29.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, beating the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The business had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the previous year, the firm earned $2.97 EPS. AbbVie's quarterly revenue 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, equities research analysts expect that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Etentamig delivers positive Phase 3 results. AbbVie said its CERVINO trial met both primary endpoints in relapsed/refractory multiple myeloma. The treatment produced a 74% objective response rate and reduced the risk of disease progression or death by 60% versus standard therapies. The results support a potential new oncology growth driver and may allow AbbVie to compete for share in the increasingly competitive multiple myeloma market. AbbVie CERVINO Phase 3 results
• Positive Sentiment: Apogee expands AbbVie’s immunology pipeline. AbbVie completed its approximately $10.9 billion acquisition of Apogee Therapeutics, adding late-stage zumilokibart for atopic dermatitis and additional programs targeting asthma and other inflammatory diseases. The deal strengthens AbbVie’s post-Humira growth prospects and diversifies its pipeline. AbbVie completes Apogee acquisition
• Neutral Sentiment: Full-year earnings guidance was reaffirmed. AbbVie maintained adjusted 2026 EPS guidance of $13.87 to $14.07 and third-quarter guidance of $3.84 to $3.88. The range is broadly consistent with expectations, but its midpoint is slightly below the current consensus estimate of $14.02, limiting the immediate upside reaction.
• Negative Sentiment: Acquisition costs create near-term pressure. The Apogee transaction is expected to dilute earnings initially and become accretive only later, reportedly around 2032. Investors may therefore focus on the substantial cash commitment and the long wait before financial benefits fully materialize. AbbVie Apogee acquisition analysis

AbbVie 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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