AbbVie Inc. $ABBV Stock Sold by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 3.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 60,697 shares of the company’s stock after selling 2,381 shares during the quarter. AbbVie comprises 1.5% of KMG Fiduciary Partners LLC’s investment portfolio, making the stock its 16th biggest holding. KMG Fiduciary Partners LLC’s holdings in AbbVie were worth $15,878,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Burk Holdings LLC purchased a new position in AbbVie in the second quarter valued at approximately $30,000. Marquette Asset Management LLC raised its holdings in AbbVie by 52.2% during the second quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock worth $35,000 after purchasing an additional 48 shares in the last quarter. Abound Financial LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $32,000. Principia Wealth Advisory LLC lifted its position in shares of AbbVie by 38.9% during the 2nd quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in shares of AbbVie during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings raised shares of AbbVie from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Morgan Stanley boosted their price target on shares of AbbVie from $296.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Citigroup boosted their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Argus upped their price objective on shares of AbbVie from $250.00 to $270.00 in a research note on Tuesday, August 4th. Finally, Oppenheimer raised their price objective on AbbVie from $244.00 to $258.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $277.18.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction 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 directly owned 74,430 shares in the company, valued at approximately $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Potential Q3 revenue beat: RBC expects AbbVie to exceed third-quarter revenue estimates, driven by continued momentum for immunology drugs Skyrizi and Rinvoq, as well as psychiatric medicine Vraylar. This supports expectations that newer products can offset Humira’s loss of exclusivity. AbbVie Poised for Q3 Top-Line Beat Driven by Rinvoq, Skyrizi, and Vraylar Therapies, RBC Says
• Positive Sentiment: Encouraging Skyrizi data: New Phase 3 AFFIRM results showed favorable clinical and endoscopic outcomes for subcutaneous Skyrizi in patients with moderately to severely active Crohn’s disease. The data could strengthen Skyrizi’s position in a major growth market and expand AbbVie’s immunology opportunity. AbbVie Presents New Phase 3 AFFIRM Data
• Positive Sentiment: Pipeline and analyst support: Recent Crohn’s disease data for Skyrizi and Rinvoq, cancer-related regulatory milestones for Temab-A, and early metabolic-treatment data are improving the outlook for AbbVie’s post-Humira growth. RBC reaffirmed its “Outperform” rating, although its target implies only limited additional upside. AbbVie Could Be 44% Below Fair Value on Fresh Pipeline Wins
• Neutral Sentiment: Strategic expansion: AbbVie’s acquisition of Apogee and related leadership moves highlight the company’s effort to replenish its pipeline through business development, but the long-term financial impact remains uncertain. Biotech Builder Paragon Imports Apogee’s Top Brass After AbbVie Buyout
• Negative Sentiment: Valuation and execution risks: At a high earnings multiple near its recent peak, ABBV may be vulnerable to profit-taking even with positive clinical news. Investors also remain concerned about Humira’s ongoing sales erosion, increasing immunology competition, and whether Skyrizi and Rinvoq can sustain their rapid growth.

AbbVie Trading Down 2.2%

Shares of NYSE ABBV opened at $274.82 on Wednesday. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $283.43. The stock has a 50 day moving average of $260.41 and a two-hundred day moving average of $237.87. The stock has a market cap of $485.55 billion, a P/E ratio of 77.63, a P/E/G ratio of 1.28 and a beta of 0.24.

AbbVie (NYSE:ABBV) last announced its 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. The business 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 company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, research analysts predict that AbbVie Inc. will post 13.95 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 195.48%.

AbbVie Company Profile

AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women’s health.

The company’s products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.

AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.