AbbVie Inc. $ABBV Shares Purchased by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 159.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,903 shares of the company’s stock after purchasing an additional 10,990 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in AbbVie were worth $4,714,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ABBV. Childress Capital Advisors LLC boosted its holdings in AbbVie by 3.1% in the 3rd quarter. Childress Capital Advisors LLC now owns 9,569 shares of the company’s stock worth $2,503,000 after acquiring an additional 287 shares during the period. D.A. Davidson & CO. raised its stake in shares of AbbVie by 4.8% during the third quarter. D.A. Davidson & CO. now owns 255,285 shares of the company’s stock valued at $66,780,000 after purchasing an additional 11,585 shares during the period. Essential Investment Partners LLC raised its stake in shares of AbbVie by 1.6% during the third quarter. Essential Investment Partners LLC now owns 14,646 shares of the company’s stock valued at $3,831,000 after purchasing an additional 235 shares during the period. North Dakota State Investment Board lifted its position in shares of AbbVie by 3.9% during the third quarter. North Dakota State Investment Board now owns 54,228 shares of the company’s stock worth $14,186,000 after purchasing an additional 2,031 shares in the last quarter. Finally, Beacon Bank & Trust boosted its stake in shares of AbbVie by 6.8% in the third quarter. Beacon Bank & Trust now owns 4,431 shares of the company’s stock valued at $1,159,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 1.3%

Shares of NYSE:ABBV opened at $289.85 on Friday. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $292.67. The firm has a market cap of $512.10 billion, a P/E ratio of 26.31, a P/E/G ratio of 1.31 and a beta of 0.24. The company has a 50 day moving average of $268.69 and a 200-day moving average of $236.86.

AbbVie (NYSE:ABBV) last released 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 firm had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%. AbbVie’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.97 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 13.92 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. AbbVie’s dividend payout ratio is 195.48%.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: QULIPTA delivered favorable Phase 3 results. AbbVie said its migraine-prevention treatment atogepant (QULIPTA) demonstrated superior efficacy and tolerability versus topiramate in the TEMPLE head-to-head study. The data could strengthen QULIPTA’s competitive position and support future growth. AbbVie’s QULIPTA Outperforms Topiramate in Phase 3 Migraine Prevention Study
• Positive Sentiment: Analysts expect a better-than-expected third quarter. The preview points to continued momentum from immunology drugs Skyrizi and Rinvoq, which are increasingly important as AbbVie replaces lost Humira revenue. A strong report and maintained or improved guidance could provide a near-term catalyst. AbbVie Q3 Preview
• Positive Sentiment: AbbVie filed for FDA review of etentamig. The multiple myeloma candidate is backed by a positive pivotal Phase 3 trial and could expand AbbVie’s oncology portfolio if approved. The monthly dosing schedule may also improve its commercial appeal. AbbVie Seeks FDA Approval for Etentamig
• Neutral Sentiment: Early-stage pipeline activity continues. An updated Phase 1 study of ABBV-7828 signals ongoing investment in new medicines, but the program remains preliminary and is unlikely to materially affect near-term earnings. AbbVie’s ABBV-7828 Trial
• Negative Sentiment: Patent-cliff concerns remain. Analysts continue to warn that Humira’s loss of exclusivity and future patent expirations could pressure revenue and earnings, placing greater importance on Skyrizi, Rinvoq, QULIPTA and the broader pipeline. AbbVie Still Strong Growth, but Patent Cliff Is Getting Closer

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 74,430 shares of the company’s stock, valued at $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of analyst reports. Guggenheim reaffirmed a “buy” rating and set a $288.00 target price on shares of AbbVie in a research report on Friday, October 9th. Argus raised their price objective on AbbVie from $250.00 to $270.00 in a research note on Tuesday, August 4th. Piper Sandler lifted their price objective on AbbVie from $298.00 to $303.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Scotiabank upped their target price on AbbVie from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. Finally, The Goldman Sachs Group increased their target price on AbbVie from $258.00 to $294.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $279.86.

AbbVie Company Profile

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company’s key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.