AbbVie Inc. $ABBV Stock Position Lessened by L2 Asset Management LLC

L2 Asset Management LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 22.7% during the third quarter, Holdings Channel.com reports. The firm owned 15,719 shares of the company’s stock after selling 4,609 shares during the quarter. L2 Asset Management LLC’s holdings in AbbVie were worth $3,639,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in AbbVie by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock valued at $41,155,601,000 after buying an additional 448,554 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of AbbVie by 6.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,783,329 shares of the company’s stock worth $4,970,848,000 after buying an additional 1,517,222 shares in the last quarter. Norges Bank bought a new stake in shares of AbbVie during the 2nd quarter worth about $4,288,200,000. Legal & General Group Plc lifted its stake in shares of AbbVie by 4.3% in the 3rd quarter. Legal & General Group Plc now owns 12,004,084 shares of the company’s stock worth $2,779,426,000 after acquiring an additional 493,420 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after acquiring an additional 8,646,424 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 22,381 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the sale, the executive vice president directly owned 38,137 shares of the company’s stock, valued at $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction 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 sale, the senior vice president directly owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. This represents a 66.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ABBV shares. Wall Street Zen upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Barclays started coverage on AbbVie in a research report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 target price for the company. Royal Bank Of Canada began coverage on AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price target on the stock. Guggenheim reissued a “buy” rating on shares of AbbVie in a research note on Thursday. Finally, Evercore cut their price objective on AbbVie from $232.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $253.15.

AbbVie Price Performance

ABBV stock opened at $221.54 on Tuesday. The firm has a market cap of $391.72 billion, a PE ratio of 93.87, a P/E/G ratio of 0.76 and a beta of 0.34. AbbVie Inc. has a 12 month low of $164.39 and a 12 month high of $244.81. The firm has a 50 day simple moving average of $224.35 and a 200 day simple moving average of $224.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.06. The firm had revenue of $16.62 billion for the quarter, compared to analyst estimates of $16.39 billion. AbbVie had a net margin of 6.91% and a negative return on equity of 1,579.75%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 earnings per share. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be issued a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, April 15th. AbbVie’s payout ratio is presently 293.22%.

AbbVie 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.