Mystic Asset Management Inc. Invests $5.10 Million in AbbVie Inc. $ABBV

Mystic Asset Management Inc. acquired a new position in AbbVie Inc. (NYSE:ABBV) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 20,254 shares of the company’s stock, valued at approximately $5,097,000. AbbVie makes up approximately 1.1% of Mystic Asset Management Inc.’s investment portfolio, making the stock its 21st biggest holding.

Several other large investors have also recently added to or reduced their stakes in ABBV. Brighton Jones LLC grew its stake in shares of AbbVie by 17.4% in the fourth 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 in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of 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 in the last quarter. Schnieders Capital Management LLC. lifted its holdings 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 purchasing an additional 789 shares during the period. Ieq Capital LLC lifted its holdings in 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 purchasing an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its position in AbbVie by 117.3% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after buying an additional 612,702 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie submitted an application to the European Medicines Agency for a subcutaneous induction regimen of Skyrizi in adults with moderately to severely active Crohn’s disease. The filing, supported by Phase 3 AFFIRM data, could broaden Skyrizi’s commercial opportunity and help offset longer-term concerns about AbbVie’s product portfolio. Is AbbVie Undervalued As It Expands Skyrizi In Crohns Disease?
• Positive Sentiment: Analysts remain broadly optimistic about ABBV’s outlook despite the stock’s reported underperformance versus healthcare peers over the past year. The aging population is also viewed as a long-term demand driver for AbbVie’s immunology treatments. How Is AbbVie’s Stock Performance Compared to Other Healthcare Stocks
• Neutral Sentiment: AbbVie will present at the Wells Fargo Healthcare Conference on September 9. Investors may look for updates on Skyrizi, Rinvoq and the company’s earnings outlook, but no new financial information was provided in the announcement. AbbVie to Present at the Wells Fargo 21st Annual Healthcare Conference
• Neutral Sentiment: Trading has been relatively steady as investors await the next earnings update. Recent results provide a supportive backdrop: AbbVie previously exceeded quarterly EPS and revenue expectations, with revenue up year over year. AbbVie Stock Holds Steady as Investors Await the Next Earnings Update
• Negative Sentiment: Erste Group Bank reduced its FY2026 EPS estimate for AbbVie, creating a modest headwind for the stock and highlighting the risk that expectations may be difficult to exceed.
• Negative Sentiment: Recent institutional activity was mixed, with Burke & Herbert Bank & Trust selling shares while another manager initiated a position. These 13F changes are historical and have limited near-term significance, but the sale may add slight negative sentiment. Burke and Herbert Bank Sells AbbVie Shares

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the sale, the executive vice president directly owned 74,430 shares of the company’s stock, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on ABBV. Guggenheim raised their target price on shares of AbbVie from $261.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their target price on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada upped their target price on AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Two equities research 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’s stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $275.95.

AbbVie Price Performance

NYSE ABBV opened at $256.95 on Tuesday. The company’s 50 day simple moving average is $253.20 and its 200 day simple moving average is $229.16. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $267.47. The company has a market capitalization of $453.98 billion, a P/E ratio of 72.58, a PEG ratio of 0.85 and a beta of 0.30.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating 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 company had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same quarter last year, the business posted $2.97 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were given a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie’s dividend payout ratio is presently 195.48%.

AbbVie Company 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.