NewEdge Advisors LLC Sells 192,976 Shares of AbbVie Inc. $ABBV

Key Points

• NewEdge Advisors reduced its AbbVie position by 30.5%, selling 192,976 shares and retaining 439,164 shares valued at approximately $110.5 million. Institutional investors collectively own 70.23% of the company.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $276.64; several firms recently raised their targets to between $280 and $303.
• AbbVie exceeded quarterly expectations with $3.65 in adjusted EPS and $16.99 billion in revenue, while declaring a $1.73 quarterly dividend, equivalent to a 2.7% yield.

NewEdge Advisors LLC cut its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 30.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 439,164 shares of the company's stock after selling 192,976 shares during the quarter. NewEdge Advisors LLC's holdings in AbbVie were worth $110,511,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Burk Holdings LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $30,000. Litman Gregory Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter worth $28,000. Imprint Wealth LLC boosted its stake in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after buying an additional 45 shares in the last quarter. IFC & Insurance Marketing Inc. bought a new stake in AbbVie in the 4th quarter valued at $31,000. Finally, Marquette Asset Management LLC raised its stake in shares of AbbVie by 52.2% in the 2nd quarter. Marquette Asset Management LLC now owns 140 shares of the company's stock valued at $35,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction dated Friday, August 14th. The stock was 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 $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABBV. Piper Sandler raised their price objective on shares of AbbVie from $298.00 to $303.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. Royal Bank Of Canada raised their price target on shares of AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, July 10th. Guggenheim lifted their price objective on AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Barclays upped their price objective on AbbVie from $275.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company increased their target price on AbbVie from $295.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Two 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $276.64.

AbbVie Stock Up 0.0%

Shares of ABBV stock opened at $257.17 on Monday. The company has a market capitalization of $454.36 billion, a P/E ratio of 72.65, a P/E/G ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47. The firm has a 50-day moving average price of $254.46 and a 200 day moving average price of $230.95.

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, beating 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 firm had revenue of $16.99 billion during the quarter, compared to analysts' expectations of $16.80 billion. During the same period last year, the firm posted $2.97 EPS. The business's revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, research analysts expect that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a $1.73 dividend. The ex-dividend date is Thursday, October 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie's dividend payout ratio (DPR) is 195.48%.

AbbVie News Summary

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.

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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