L2 Asset Management LLC Purchases New Stake in AbbVie Inc. $ABBV

L2 Asset Management LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 9,799 shares of the company’s stock, valued at approximately $2,466,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vega Investment Solutions acquired a new position in AbbVie during the 2nd quarter valued at about $996,000. Cetera Trust Company N.A acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $168,000. Aberdeen Wealth Management LLC bought a new stake in shares of AbbVie during the second quarter worth approximately $2,334,000. Visionary Wealth Advisors bought a new stake in shares of AbbVie during the second quarter worth approximately $14,980,000. Finally, Cullen Capital Management LLC acquired a new position in AbbVie in the second quarter valued at approximately $1,800,000. 70.23% of the stock is owned by institutional investors.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Etentamig delivers positive Phase 3 results. AbbVie said its CERVINO trial met both primary endpoints in relapsed/refractory multiple myeloma. The treatment produced a 74% objective response rate and reduced the risk of disease progression or death by 60% versus standard therapies. The results support a potential new oncology growth driver and may allow AbbVie to compete for share in the increasingly competitive multiple myeloma market. AbbVie CERVINO Phase 3 results
• Positive Sentiment: Apogee expands AbbVie’s immunology pipeline. AbbVie completed its approximately $10.9 billion acquisition of Apogee Therapeutics, adding late-stage zumilokibart for atopic dermatitis and additional programs targeting asthma and other inflammatory diseases. The deal strengthens AbbVie’s post-Humira growth prospects and diversifies its pipeline. AbbVie completes Apogee acquisition
• Neutral Sentiment: Full-year earnings guidance was reaffirmed. AbbVie maintained adjusted 2026 EPS guidance of $13.87 to $14.07 and third-quarter guidance of $3.84 to $3.88. The range is broadly consistent with expectations, but its midpoint is slightly below the current consensus estimate of $14.02, limiting the immediate upside reaction.
• Negative Sentiment: Acquisition costs create near-term pressure. The Apogee transaction is expected to dilute earnings initially and become accretive only later, reportedly around 2032. Investors may therefore focus on the substantial cash commitment and the long wait before financial benefits fully materialize. AbbVie Apogee acquisition analysis

Analysts Set New Price Targets

A number of equities analysts have issued reports on ABBV shares. 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 note on Monday, August 3rd. Weiss Ratings raised AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Guggenheim raised their price target on AbbVie from $261.00 to $288.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their price objective on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, BNP Paribas Exane upped their price objective on AbbVie from $218.00 to $247.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.95.

AbbVie Trading Down 0.4%

ABBV stock opened at $260.69 on Friday. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $267.47. The firm has a market cap of $460.58 billion, a PE ratio of 73.64, a P/E/G ratio of 1.18 and a beta of 0.29. The business’s 50-day moving average price is $254.57 and its two-hundred day moving average price is $229.87.

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 the consensus estimate of $3.61 by $0.04. The company had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

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

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

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.