Wallace Capital Management Inc. Takes $545,000 Position in AbbVie Inc. $ABBV

Wallace Capital Management Inc. acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 2,165 shares of the company’s stock, valued at approximately $545,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of AbbVie by 1.4% during the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC lifted its holdings in AbbVie by 10.4% in 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. Bank of America Corp DE grew its position in AbbVie by 1.4% in the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after buying an additional 356,394 shares in the last quarter. Norges Bank acquired a new position in AbbVie during the 4th quarter valued at about $5,865,055,000. Finally, Capital Research Global Investors raised its position in shares of AbbVie by 0.7% during the 4th quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock worth $5,805,530,000 after buying an additional 177,370 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

ABBV stock opened at $256.27 on Friday. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $267.47. The firm has a market cap of $452.78 billion, a PE ratio of 72.39, a P/E/G ratio of 1.18 and a beta of 0.29. The firm has a 50 day simple moving average of $254.66 and a 200 day simple moving average of $230.06.

AbbVie (NYSE:ABBV) last posted 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 firm had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, sell-side analysts expect 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. Investors of record on Wednesday, July 15th were issued a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, July 15th. AbbVie’s payout ratio is presently 195.48%.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction on 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 represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on ABBV. JPMorgan Chase & Co. raised their price objective on shares of AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler increased their price target on AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Evercore set a $235.00 price target on AbbVie in a research report on Friday, May 15th. UBS Group boosted their price objective on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Two research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $275.95.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Etentamig delivers a major Phase 3 win: AbbVie said its investigational BCMA x CD3 therapy met both primary endpoints in the CERVINO trial for relapsed/refractory multiple myeloma. Etentamig produced a 74% objective response rate versus 45.7% for standard therapies and reduced the risk of disease progression or death by 60%. The results could support a regulatory submission and give AbbVie an opportunity to compete in the growing BCMA-targeted treatment market. AbbVie Announces Positive Topline Results from the Phase 3 CERVINO Trial
• Positive Sentiment: Apogee acquisition expands immunology pipeline: AbbVie completed its approximately $10.9 billion purchase of Apogee Therapeutics. The deal adds late-stage zumilokibart for atopic dermatitis and additional respiratory and inflammatory disease programs, potentially strengthening growth beyond Humira. AbbVie Completes Acquisition of Apogee Therapeutics
• Positive Sentiment: Growth products continue to offset Humira erosion: Skyrizi and Rinvoq remain key drivers, with reported second-quarter sales growth of 24% and 25%, respectively. AbbVie’s established dividend record and broader pipeline also support the long-term investment case.
• Neutral Sentiment: Financial guidance was reaffirmed: AbbVie maintained its 2026 adjusted EPS outlook of $13.87–$14.07 and third-quarter guidance of $3.84–$3.88. However, the Apogee transaction is expected to dilute earnings initially before becoming accretive later in the decade. AbbVie Completes Acquisition of Apogee Therapeutics
• Negative Sentiment: Humira remains a significant headwind: The flagship drug’s revenue continues to fall following biosimilar competition, raising questions about how quickly newer products can replace the lost cash flow and support future dividend growth.

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.