AbbVie Inc. $ABBV Position Lifted by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 697.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,482 shares of the company’s stock after purchasing an additional 10,917 shares during the period. Provenance Wealth Advisors LLC’s holdings in AbbVie were worth $3,265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Corient Private Wealth LP purchased a new position in AbbVie in the 2nd quarter worth approximately $559,736,000. Legal & General Group Plc purchased a new stake in shares of AbbVie during the 2nd quarter valued at $2,905,952,000. Jupiter Topco LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at $1,560,354,000. Canada Pension Plan Investment Board purchased a new stake in shares of AbbVie during the 2nd quarter valued at $817,473,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of AbbVie during the 2nd quarter valued at $655,268,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABBV. Argus upped their target price on shares of AbbVie from $250.00 to $270.00 in a research report on Tuesday, August 4th. Sanford C. Bernstein reissued a “market perform” rating and issued a $275.00 target price on shares of AbbVie in a research note on Monday. Guggenheim raised their price target on AbbVie from $288.00 to $322.00 and gave the company a “buy” rating in a research report on Monday. Barclays lifted their price target on AbbVie from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Finally, Wells Fargo & Company upped their price objective on AbbVie from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $296.88.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie raised its 2026 outlook, projecting EPS of $13.95–$13.99 and revenue of $67.8 billion, both slightly above consensus at the midpoint. Its latest quarter also beat analyst estimates, with revenue up 10.3% year over year. Q3 earnings outlook and pipeline progress
• Positive Sentiment: AbbVie expanded its Oxford R&D facility as part of an investment exceeding £120 million, signaling continued commitment to research and development. Reuters: Oxford R&D expansion
• Positive Sentiment: The company expanded its migraine-drug partnership with Brise in a deal potentially worth up to $757 million, adding to its pipeline prospects. AbbVie-Brise license deal
• Positive Sentiment: Several analysts raised their price targets after the quarterly results, reflecting confidence in AbbVie’s growth transition. Analyst target increases
• Negative Sentiment: Fourth-quarter EPS guidance of $3.83–$3.87 is below the $3.89 consensus, despite revenue guidance of $18.4 billion topping expectations. That earnings shortfall could temper the otherwise stronger full-year outlook.
• Negative Sentiment: After a strong run, valuation concerns remain: one recent analysis described the shares as stretched and questioned how much further growth from Skyrizi and pipeline deals is already reflected in the price. Valuation and upside analysis

AbbVie Stock Performance

Shares of ABBV stock opened at $285.88 on Wednesday. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $298.74. The stock has a 50 day moving average price of $270.23 and a two-hundred day moving average price of $237.89. The company has a market capitalization of $505.09 billion, a P/E ratio of 49.20, a PEG ratio of 1.31 and a beta of 0.20.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. AbbVie had a negative return on equity of 435.41% and a net margin of 15.67%. The firm had revenue of $17.40 billion during the quarter, compared to analyst estimates of $17.32 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 14.00 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be issued a dividend of $1.82 per share. The ex-dividend date is Friday, January 15th. This represents a $7.28 dividend on an annualized basis and a yield of 2.5%. This is an increase from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio (DPR) is currently 119.10%.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the sale, the executive vice president owned 74,430 shares of the company’s stock, valued at $18,607,500. This represents a 30.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by insiders.

AbbVie 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.