NewEdge Wealth LLC Takes $106.22 Million Position in AbbVie Inc. $ABBV

NewEdge Wealth LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 422,116 shares of the company’s stock, valued at approximately $106,221,000. AbbVie makes up 1.1% of NewEdge Wealth LLC’s investment portfolio, making the stock its 17th largest holding.

A number of other hedge funds also recently added to or reduced their stakes in ABBV. Ranch Capital Advisors Inc. raised its position in AbbVie by 37.0% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock valued at $3,238,000 after purchasing an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK grew its position in shares of AbbVie by 11.2% during the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock worth $112,516,000 after buying an additional 45,132 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of AbbVie by 7.5% during the second quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock worth $33,865,000 after buying an additional 9,380 shares during the period. Mission Wealth Management LP increased its stake in shares of AbbVie by 119.1% during the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock worth $17,376,000 after buying an additional 37,531 shares during the period. Finally, Legacy Edge Advisors LLC acquired a new stake in AbbVie in the fourth quarter valued at approximately $1,265,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 0.8%

ABBV stock opened at $256.08 on Friday. The stock has a market cap of $452.44 billion, a P/E ratio of 72.34, a PEG ratio of 0.85 and a beta of 0.30. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $267.47. The company’s 50 day moving average is $252.66 and its two-hundred day moving average is $228.87.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were issued a dividend of $1.73 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is presently 195.48%.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $18,607,500. The trade was a 30.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Skyrizi regulatory expansion: AbbVie submitted an application to the European Medicines Agency for subcutaneous induction of Skyrizi in adults with moderately to severely active Crohn’s disease. If approved, the less invasive option could improve patient convenience, strengthen Skyrizi’s European franchise and support longer-term immunology revenue. The filing is backed by positive Phase 3 AFFIRM data. AbbVie Seeks EU Nod for Subcutaneous Skyrizi in Crohn’s Disease
• Positive Sentiment: Additional IBD pipeline investment: AbbVie is conducting a Phase 2 platform basket trial evaluating potential treatments across Crohn’s disease and ulcerative colitis. The study adds longer-term pipeline optionality and may help diversify growth beyond existing immunology products, although it remains an early-stage catalyst. AbbVie Expands Its IBD Pipeline With New Phase 2 Basket Trial
• Neutral Sentiment: Income-oriented appeal: Recent market commentary highlights AbbVie among established dividend stocks, reinforcing its defensive profile and appeal to income investors. This is supportive of sentiment but does not represent a new company-specific announcement. 3 Dividend Stocks, 12 Paychecks a Year
• Negative Sentiment: Valuation risk: With ABBV trading at a high earnings multiple and close to its 52-week peak, investors may be concerned that substantial future growth is already reflected in the share price. Any regulatory delay or disappointing pipeline data could therefore produce an outsized reaction. Has AbbVie Stock Become Too Expensive to Buy?

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent research reports. Barclays lifted their price target on shares of AbbVie from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Canaccord Genuity Group raised their price objective on shares of AbbVie from $282.00 to $290.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Piper Sandler lifted their price objective on shares of AbbVie from $298.00 to $303.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. BMO Capital Markets boosted their target price on shares of AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Erste Group Bank raised AbbVie from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.95.

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.