Empowered Funds LLC Sells 24,477 Shares of AbbVie Inc. $ABBV

Key Points

• Empowered Funds LLC cut its AbbVie position by 10.8% in the second quarter, selling 24,477 shares and retaining 202,359 shares valued at approximately $50.9 million.
• Institutional ownership remains high at 70.23%, with several funds increasing their stakes, including Worldquant Millennium Advisors, which boosted its position by 117.3%.
• AbbVie reported quarterly EPS of $3.65, beating estimates, while revenue rose 10.2% year over year to $16.99 billion. The stock has a “Moderate Buy” consensus rating with an average analyst price target of $275.95.

Empowered Funds LLC reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 10.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,359 shares of the company's stock after selling 24,477 shares during the period. Empowered Funds LLC's holdings in AbbVie were worth $50,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after buying an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of AbbVie by 5.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock valued at $3,056,000 after purchasing an additional 789 shares during the last quarter. Ieq Capital LLC boosted its stake in AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock worth $22,281,000 after buying an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock worth $210,685,000 after purchasing an additional 612,702 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

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.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction on 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 sale, the executive vice president owned 74,430 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

AbbVie Trading Down 0.1%

ABBV opened at $256.27 on Monday. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47. The firm has a market capitalization of $452.78 billion, a PE ratio of 72.39, a P/E/G ratio of 1.16 and a beta of 0.29. The firm has a 50 day moving average of $254.66 and a two-hundred day moving average of $230.05.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were issued 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 dividend payout ratio is presently 195.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ABBV shares. BMO Capital Markets boosted their price objective on AbbVie from $258.00 to $300.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Bank of America upped their target price on AbbVie from $234.00 to $276.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Citigroup upped their price objective on AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Guggenheim increased their target price on shares of AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Finally, Wolfe Research raised shares of AbbVie from a "peer perform" rating to an "outperform" rating and set a $300.00 price target on the stock in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $275.95.

About AbbVie

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.

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.

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