Envestnet Portfolio Solutions Inc. Raises Stock Position in AbbVie Inc. $ABBV

Envestnet Portfolio Solutions Inc. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,324 shares of the company’s stock after acquiring an additional 6,327 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in AbbVie were worth $22,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. State Street Corp grew its holdings in AbbVie by 1.7% in the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock valued at $20,784,646,000 after purchasing an additional 1,379,232 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after buying an additional 4,190,487 shares during the last quarter. Norges Bank purchased a new stake in shares of AbbVie in the 4th quarter worth about $5,865,055,000. Capital Research Global Investors grew its stake in AbbVie by 0.7% in the 4th quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock valued at $5,805,530,000 after acquiring an additional 177,370 shares during the last quarter. Finally, Corient Private Wealth LP acquired a new stake in AbbVie in the 2nd quarter valued at about $559,736,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Rinvoq wins EU approval for pediatric arthritis: The European Commission approved Rinvoq for children aged two and older with active polyarticular juvenile idiopathic arthritis who have not responded adequately to, or cannot tolerate, at least one DMARD. The approval adds a new pediatric use, includes an oral solution, and brings Rinvoq to 11 approved indications in Europe. The commercial impact is likely modest initially, but the decision expands the drug’s addressable population and reinforces its growth potential. AbbVie Announces European Commission Approval of Rinvoq
• Positive Sentiment: Potential pipeline collaboration: Iambic reportedly filed for an IPO after signing AbbVie as a partner. Although financial terms and the specific assets involved were not provided, the arrangement could give AbbVie access to additional computational drug-discovery capabilities and future pipeline opportunities. Iambic files IPO after signing AbbVie as new partner
• Neutral Sentiment: Aesthetic business initiatives: Allergan Aesthetics launched AA Signature with SKIN360 in the United States, a multimodal consultation and provider-education program. The initiative may support customer engagement and procedure demand, but no immediate revenue impact was disclosed. Allergan Aesthetics Debuts AA Signature
• Negative Sentiment: Bearish analyst commentary: A Seeking Alpha analysis argues that revenue pressure and weakening earnings support a “sell” view. This contrasts with AbbVie’s latest reported quarterly revenue growth and earnings beat, but highlights investor concerns over the sustainability of growth and the stock’s elevated valuation. AbbVie: Revenue Pressure And Weakening Earnings Support a Sell

AbbVie Stock Performance

ABBV stock traded up $0.22 during trading on Wednesday, hitting $265.43. The stock had a trading volume of 3,445,647 shares, compared to its average volume of 6,531,572. The stock has a market cap of $468.96 billion, a price-to-earnings ratio of 74.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29. The company’s 50 day moving average price is $256.31 and its two-hundred day moving average price is $232.58. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $269.39.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.04. The business had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous 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, sell-side analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a $1.73 dividend. The ex-dividend date is Thursday, October 15th. This represents a $6.92 annualized dividend and a yield of 2.6%. AbbVie’s payout ratio is 195.48%.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’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 sale, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Canaccord Genuity Group lifted their target price on shares of AbbVie from $282.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their price target on shares of AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler raised their price objective on shares of AbbVie from $298.00 to $303.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. HSBC lifted their price objective on AbbVie from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Finally, Citigroup upped their target price on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $276.64.

AbbVie Company 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.