QRG Capital Management Inc. Increases Stock Holdings in AbbVie Inc. $ABBV

QRG Capital Management Inc. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 301,006 shares of the company’s stock after acquiring an additional 24,245 shares during the period. QRG Capital Management Inc.’s holdings in AbbVie were worth $75,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. State Street Corp increased its holdings in shares of AbbVie by 1.7% in the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock valued at $20,784,646,000 after purchasing an additional 1,379,232 shares during the period. Geode Capital Management LLC lifted its holdings in shares of AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the period. Norges Bank acquired a new stake in shares of AbbVie during the fourth quarter worth about $5,865,055,000. Capital Research Global Investors boosted its position in AbbVie by 0.7% in the fourth quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock valued at $5,805,530,000 after buying an additional 177,370 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AbbVie by 0.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock worth $3,590,323,000 after buying an additional 106,091 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.1%

Shares of NYSE:ABBV traded up $0.22 during trading on Wednesday, hitting $265.43. 3,445,647 shares of the stock traded hands, compared to its average volume of 6,531,572. The company has a fifty day moving average price of $256.31 and a two-hundred day moving average price of $232.58. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $269.39. The company has a market cap of $468.96 billion, a price-to-earnings ratio of 74.98, a P/E/G ratio of 1.19 and a beta of 0.29.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the prior year, the firm posted $2.97 earnings per share. The firm’s quarterly 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, equities research analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal 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 given a dividend of $1.73 per share. The ex-dividend date is Thursday, October 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.6%. AbbVie’s dividend payout ratio (DPR) is 195.48%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ABBV shares. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 5th. Citigroup increased their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on shares of AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. BMO Capital Markets boosted their target price on shares of AbbVie from $258.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $276.64.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Rinvoq wins EU approval for pediatric arthritis: The European Commission approved Rinvoq for children aged two and older with active polyarticular juvenile idiopathic arthritis who have not responded adequately to, or cannot tolerate, at least one DMARD. The approval adds a new pediatric use, includes an oral solution, and brings Rinvoq to 11 approved indications in Europe. The commercial impact is likely modest initially, but the decision expands the drug’s addressable population and reinforces its growth potential. AbbVie Announces European Commission Approval of Rinvoq
• Positive Sentiment: Potential pipeline collaboration: Iambic reportedly filed for an IPO after signing AbbVie as a partner. Although financial terms and the specific assets involved were not provided, the arrangement could give AbbVie access to additional computational drug-discovery capabilities and future pipeline opportunities. Iambic files IPO after signing AbbVie as new partner
• Neutral Sentiment: Aesthetic business initiatives: Allergan Aesthetics launched AA Signature with SKIN360 in the United States, a multimodal consultation and provider-education program. The initiative may support customer engagement and procedure demand, but no immediate revenue impact was disclosed. Allergan Aesthetics Debuts AA Signature
• Negative Sentiment: Bearish analyst commentary: A Seeking Alpha analysis argues that revenue pressure and weakening earnings support a “sell” view. This contrasts with AbbVie’s latest reported quarterly revenue growth and earnings beat, but highlights investor concerns over the sustainability of growth and the stock’s elevated valuation. AbbVie: Revenue Pressure And Weakening Earnings Support a Sell

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s 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 of the company’s stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

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.