Pinnacle Associates Ltd. Has $38.53 Million Stock Position in AbbVie Inc. $ABBV

Pinnacle Associates Ltd. reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,630 shares of the company’s stock after selling 2,789 shares during the quarter. Pinnacle Associates Ltd.’s holdings in AbbVie were worth $38,530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Chelsea Counsel Co. purchased a new stake in shares of AbbVie in the third quarter worth approximately $26,000. Westend Capital Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $29,000. Texas Capital Bancshares Inc TX purchased a new position in AbbVie during the 3rd quarter worth $31,000. Legacy Wealth Managment LLC ID boosted its holdings in AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares during the last quarter. Finally, WestEnd Advisors LLC boosted its holdings in AbbVie by 160.4% during the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after acquiring an additional 85 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: New immunology data and an upgraded 2026 earnings outlook are reinforcing confidence in AbbVie’s growth trajectory and valuation. A Look At AbbVie (ABBV) Valuation After New Immunology Data And Upgraded 2026 Earnings Outlook
• Positive Sentiment: Analyst commentary continues to lean constructive, with recent coverage highlighting AbbVie as an attractive long-term healthcare name and pointing to a higher price target from Evercore ISI. Why AbbVie Inc. (ABBV) is One of the Best Healthcare Stocks to Buy for the Long Term
• Positive Sentiment: Multiple recent articles argue AbbVie’s growth engine is “firing,” with bullish takes centered on its expanding drug portfolio and rising dividend, both supportive of investor sentiment. 3 Reasons to Buy AbbVie Stock (ABBV) Like There’s No Tomorrow
• Neutral Sentiment: AbbVie appointed Kelly Sanderson Schrems as UK VP and General Manager, a routine leadership move that is unlikely to materially move the stock on its own. AbbVie Appoints Kelly Sanderson Schrems as UK VP and General Manager
• Neutral Sentiment: Shareholders backed directors and maintained the governance structure at the annual meeting, which removes uncertainty but is not a major new catalyst. AbbVie Shareholders Back Directors, Maintain Governance Structure
• Neutral Sentiment: Zacks and other commentary remain supportive, but this is mostly reinforcing existing optimism rather than introducing a major new catalyst. The Zacks Analyst Blog NVIDIA, Mastercard, AbbVie, Waterstone and Precipio

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 22,381 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value of $5,147,630.00. Following the transaction, the executive vice president owned 38,137 shares in the company, valued at approximately $8,771,510. This represents a 36.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the transaction, the senior vice president owned 2,654 shares in the company, valued at approximately $619,868.24. The trade was a 66.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABBV. William Blair reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Canaccord Genuity Group increased their price objective on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Evercore decreased their price objective on shares of AbbVie from $232.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 4th. Finally, Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.90.

AbbVie Trading Up 0.3%

ABBV stock opened at $208.39 on Thursday. The stock’s fifty day simple moving average is $211.23 and its two-hundred day simple moving average is $220.29. AbbVie Inc. has a 1-year low of $176.57 and a 1-year high of $244.81. The stock has a market cap of $368.17 billion, a P/E ratio of 102.65, a P/E/G ratio of 0.72 and a beta of 0.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter last year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 14.32 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 340.89%.

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.