Northwestern Mutual Wealth Management Co. Makes New $67.61 Million Investment in AbbVie Inc. $ABBV

Key Points

• Northwestern Mutual Wealth Management purchased 268,688 AbbVie shares worth approximately $67.61 million during the second quarter. Institutional investors collectively own 70.23% of the company.
• Analysts remain broadly positive, with AbbVie receiving a “Moderate Buy” consensus rating and an average price target of $275.95 after several firms raised their targets.
• AbbVie exceeded quarterly earnings and revenue estimates, reporting $3.65 in EPS and $16.99 billion in revenue, while maintaining a quarterly dividend of $1.73 per share. Shares recently opened at $259.87, near their 52-week high.

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 268,688 shares of the company's stock, valued at approximately $67,613,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ranch Capital Advisors Inc. raised its stake in shares of AbbVie by 37.0% in the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock worth $3,238,000 after purchasing an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK boosted its position in AbbVie by 11.2% in the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company's stock valued at $112,516,000 after buying an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new stake in AbbVie in the second quarter valued at approximately $23,557,000. Wedge Capital Management L L P NC increased its holdings in AbbVie by 7.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company's stock worth $33,865,000 after buying an additional 9,380 shares during the period. Finally, Mission Wealth Management LP increased its holdings in AbbVie by 119.1% in the 2nd quarter. Mission Wealth Management LP now owns 69,052 shares of the company's stock worth $17,376,000 after buying an additional 37,531 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 topic of several recent research reports. Bank of America upped their price objective on shares of AbbVie from $234.00 to $276.00 and gave the company a "buy" rating in a report on Friday, July 10th. BMO Capital Markets raised their target price on shares of AbbVie from $258.00 to $300.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. BNP Paribas Exane boosted their target price on shares of AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Guggenheim upped their price target on shares of AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Finally, Erste Group Bank raised AbbVie from a "hold" rating to a "buy" rating in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average price target of $275.95.

Insider Buying and Selling at AbbVie

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 owned 74,430 shares in the company, valued at $18,607,500. The trade was a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Allergan Aesthetics, an AbbVie company, launched SkinMedica Barrier Calming Cream and introduced HA 5 Hydra Collagen Facial Mist. Clinical testing reportedly showed a 30% reduction in skin dryness after two weeks, supporting AbbVie’s aesthetics and consumer-health growth strategy. SkinMedica Adds Barrier Calming Cream
• Positive Sentiment: AbbVie is cited as a potential beneficiary of an aging population, with its immunology portfolio positioned to capture long-term healthcare demand. Aging Population Drives Healthcare Growth
• Neutral Sentiment: AbbVie will present at the Wells Fargo Healthcare Conference on September 9. The event could provide updates on its pipeline, Humira replacement products and financial outlook, but no new information was announced yet. AbbVie Wells Fargo Healthcare Conference
• Neutral Sentiment: Investors are largely waiting for AbbVie’s next earnings update, leaving the stock without a major new near-term catalyst. AbbVie Stock Holds Steady
• Neutral Sentiment: New 340B-related court developments could affect drug-company pricing and reimbursement, but the article does not identify a specific immediate impact on AbbVie. 340B Court Updates
• Negative Sentiment: Erste Group Bank reduced its fiscal 2026 EPS estimate for AbbVie, signaling somewhat more cautious expectations for earnings growth. AbbVie FY2026 EPS Estimates Reduced

AbbVie Price Performance

ABBV opened at $259.87 on Wednesday. The firm has a fifty day moving average price of $253.69 and a 200 day moving average price of $229.43. AbbVie Inc. has a 1 year low of $190.75 and a 1 year high of $267.47. The stock has a market cap of $459.14 billion, a P/E ratio of 73.41, a P/E/G ratio of 1.16 and a beta of 0.29.

AbbVie (NYSE:ABBV - Get Free Report) last released 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 net margin of 9.80% and a negative return on equity of 422.07%. The company had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter last year, the business earned $2.97 earnings per share. The firm'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. Equities analysts expect that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were given a dividend of $1.73 per share. The ex-dividend date was Wednesday, July 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 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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