VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in AbbVie Inc. $ABBV

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, Holdings Channel reports. The firm bought 267,461 shares of the company’s stock, valued at approximately $67,304,000.

A number of other institutional investors have also added to or reduced their stakes in ABBV. California State Teachers Retirement System lifted its stake in AbbVie by 25,250.3% in the second quarter. California State Teachers Retirement System now owns 679,435,549 shares of the company’s stock valued at $170,973,162,000 after acquiring an additional 676,755,361 shares during the last quarter. Norges Bank acquired a new position in shares of AbbVie during the 4th quarter worth about $5,865,055,000. Corient Private Wealth LP acquired a new position in shares of AbbVie during the 2nd quarter worth about $559,736,000. Legal & General Group Plc bought a new stake in shares of AbbVie in the 2nd quarter valued at about $2,905,952,000. Finally, Wellington Management Group LLP raised its holdings in shares of AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after purchasing an additional 8,646,424 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

AbbVie Stock Performance

Shares of ABBV stock opened at $257.17 on Friday. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $267.47. The company has a market capitalization of $454.36 billion, a price-to-earnings ratio of 72.65, a PEG ratio of 1.16 and a beta of 0.29. The company has a 50-day simple moving average of $254.46 and a 200 day simple moving average of $230.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.04. The firm had revenue of $16.99 billion for the quarter, compared to analysts’ expectations of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Sell-side analysts forecast that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be 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 of this dividend is Thursday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 195.48%.

Analyst Ratings Changes

A number of equities analysts recently commented on ABBV shares. UBS Group lifted their price target on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Guggenheim raised their price objective on AbbVie from $261.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. BMO Capital Markets lifted their target price on AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Weiss Ratings raised 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 assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $276.64.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Positive Phase 3 menstrual-migraine results: Atogepant met the primary and secondary endpoints in the LUNA late-stage study, demonstrating reductions in menstrual migraine days along with positive safety and efficacy results. The data could support regulatory expansion of Qulipta into an indication with no specifically approved targeted therapies, potentially broadening AbbVie’s migraine franchise. AbbVie’s Atogepant Meets Goal in Late-Stage Menstrual Migraine Study
• Positive Sentiment: Potentially more flexible treatment use: The results support intermittent preventive treatment around menstruation, which could expand Qulipta’s addressable market beyond continuous daily migraine prevention. Investors view the outcome as evidence of continued momentum in AbbVie’s migraine business. AbbVie Gains as Qulipta Opens a New Migraine Market
• Positive Sentiment: Additional pipeline catalyst: AbbVie completed its ECLIPSE migraine trial, setting up another potential data milestone for the company’s migraine portfolio. A favorable outcome could further strengthen its competitive position in the CGRP market.
• Neutral Sentiment: Dividend maintained: AbbVie declared a quarterly dividend of $1.73 per share, payable November 16 to shareholders of record October 15. The declaration reinforces the income appeal of ABBV but does not represent a new increase in the payout.
• Neutral Sentiment: Analyst confidence remains favorable: HSBC raised its price target to $315 from $300 while maintaining a Buy rating, reflecting optimism about AbbVie’s newer growth products and pipeline.
• Negative Sentiment: Ongoing concentration concerns: Investors continue to monitor AbbVie’s reliance on Skyrizi and Rinvoq to offset Humira’s patent-related decline. The stock’s elevated valuation also leaves less room for disappointment if pipeline launches or immunology growth slow.

AbbVie Profile

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott’s diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie’s immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.