Jennison Associates LLC Trims Stake in AbbVie Inc. $ABBV

Key Points

• Jennison Associates cut its AbbVie stake by 36.1% in the second quarter, selling 383,188 shares and retaining 679,544 shares valued at approximately $171 million. Institutional investors collectively own 70.23% of ABBV.
• Analysts maintain a generally positive outlook, with AbbVie receiving a consensus “Moderate Buy” rating and an average price target of $275.95; recent targets range as high as $303.
• AbbVie’s latest quarterly results exceeded expectations, with $3.65 in adjusted EPS and $16.99 billion in revenue, while the company continues to pay a $1.73 quarterly dividend. However, its Apogee acquisition financing increases leverage, and an executive recently sold about $8.18 million in shares.

Jennison Associates LLC cut its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 36.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 679,544 shares of the company's stock after selling 383,188 shares during the period. Jennison Associates LLC's holdings in AbbVie were worth $171,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ABBV. Brighton Jones LLC raised 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 purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC grew its holdings in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares during the period. Schnieders Capital Management LLC. increased its position in AbbVie by 5.0% in the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock worth $3,056,000 after buying an additional 789 shares in the last quarter. Ieq Capital LLC raised its stake in shares of AbbVie by 4.6% in 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 raised its stake in shares of AbbVie by 117.3% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock worth $210,685,000 after buying an additional 612,702 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Morgan Stanley reiterated an "overweight" rating and set a $296.00 price objective on shares of AbbVie in a research note on Monday, August 3rd. BNP Paribas Exane raised their target price on shares of AbbVie from $218.00 to $247.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Piper Sandler lifted their price target on shares of AbbVie from $298.00 to $303.00 and gave the company an "overweight" rating in a report on Thursday. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 5th. Finally, Canaccord Genuity Group raised their price objective on shares of AbbVie from $282.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $275.95.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reached a new 52-week high. The move above its previous July peak signals continued buying interest and reinforces the stock’s strong uptrend. ABBV is trading well above its 50-day and 200-day moving averages. AbbVie Hits a New 52-Week High
• Positive Sentiment: Analysts and dividend investors remain constructive on ABBV. AbbVie has gained about 19% in 2026, while its $1.73 quarterly dividend provides an annualized payout of $6.92 per share. Recent analyst views include buy ratings and price targets as high as $300, supporting the bullish case. Dividend Giants Pfizer, Chevron, AbbVie
• Positive Sentiment: AbbVie completed a $10 billion senior-notes offering to help fund its Apogee Therapeutics acquisition. The financing supports expansion of AbbVie’s immunology and specialty-medicine pipeline, potentially helping offset future pressure from Humira competition. AbbVie Completes Senior Notes Offering
• Neutral Sentiment: AbbVie paid €370 million in Irish corporation tax last year. The disclosure highlights the company’s significant Irish operations but is unlikely to materially change near-term earnings expectations. AbbVie Irish Corporation Tax
• Negative Sentiment: Executive Vice President Nicholas Donoghoe sold 32,710 ABBV shares for approximately $8.18 million. The transaction reduced his direct holdings by about 30.5%. Although it may reflect personal financial planning, the sizable sale can weigh modestly on sentiment, particularly after the stock’s strong rally. AbbVie Insider Selling
• Negative Sentiment: The Apogee acquisition financing increases AbbVie’s leverage. Investors will evaluate higher interest costs and whether Apogee’s pipeline can generate sufficient returns. ABBV also trades at a high earnings multiple, leaving less room for disappointing results.

AbbVie Trading Down 1.5%

NYSE:ABBV opened at $261.88 on Friday. The stock has a 50-day moving average price of $247.72 and a 200 day moving average price of $227.22. The stock has a market capitalization of $462.69 billion, a P/E ratio of 73.98, a P/E/G ratio of 0.88 and a beta of 0.30. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts' consensus estimates of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. During the same period in the previous year, the firm earned $2.97 EPS. The firm'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, research analysts predict that AbbVie Inc. will post 14.07 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were issued a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie's payout ratio is 195.48%.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction 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. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

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.

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