Rep. Pete Sessions Unloads AbbVie Inc. (NYSE:ABBV) Stock
by Michael Walen · The Markets DailyRepresentative Pete Sessions (Republican-Texas) recently sold shares of AbbVie Inc. (NYSE:ABBV). In a filing disclosed on September 18th, the Representative disclosed that they had sold between $15,001 and $50,000 in AbbVie stock on September 14th. The trade occurred in the Representative’s “ET IRA” account.
Representative Pete Sessions also recently made the following trade(s):
- Sold $15,001 – $50,000 in shares of Alphabet (NASDAQ:GOOGL) on 9/14/2026.
- Sold $1,001 – $15,000 in shares of Ares Capital (NASDAQ:ARCC) on 7/24/2026.
AbbVie Stock Up 0.4%
Shares of ABBV stock opened at $265.06 on Tuesday. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47. The company has a 50 day moving average of $255.90 and a 200-day moving average of $232.37. The firm has a market cap of $468.31 billion, a P/E ratio of 74.88, a PEG ratio of 1.19 and a beta of 0.29.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.04. The business had revenue of $16.99 billion during 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 prior year, the company earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, equities analysts expect that AbbVie Inc. will post 14.05 EPS for the current year.
AbbVie Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, October 15th. AbbVie’s dividend payout ratio is currently 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 shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the sale, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.
Analysts Set New Price Targets
ABBV has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Citigroup boosted their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Erste Group Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Finally, UBS Group lifted their target price on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $276.64.
Get Our Latest Analysis on ABBV
Institutional Investors Weigh In On AbbVie
A number of hedge funds and other institutional investors have recently modified their holdings of ABBV. Ranch Capital Advisors Inc. increased its holdings in shares of AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock valued at $3,238,000 after acquiring an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK boosted its position in AbbVie by 11.2% in the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock worth $112,516,000 after purchasing an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in AbbVie during the second quarter valued at approximately $23,557,000. Wedge Capital Management L L P NC increased its stake in shares of AbbVie by 7.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock worth $33,865,000 after purchasing an additional 9,380 shares in the last quarter. Finally, Mission Wealth Management LP lifted its position in AbbVie by 119.1% during the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock valued at $17,376,000 after purchasing an additional 37,531 shares in the last quarter. Institutional investors 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 expands into pediatric arthritis in Europe. The European Commission approved RINVOQ (upadacitinib) for children age two and older with active polyarticular juvenile idiopathic arthritis who have not responded adequately to, or cannot tolerate, one or more DMARDs. The approval includes a new weight-based oral solution and adds to RINVOQ’s 11 EU indications, potentially broadening AbbVie’s long-term immunology revenue base. AbbVie Announces European Commission Approval of RINVOQ for Children With Arthritis
- Positive Sentiment: AbbVie and Iambic announced a multiyear AI drug-discovery collaboration. The companies will use Iambic’s AI platform to identify and develop small-molecule therapies across immunology, neuroscience and oncology, targeting first-in-class and best-in-class medicines. The deal strengthens AbbVie’s pipeline-replenishment efforts and could accelerate development, although financial terms and specific drug candidates were not disclosed. AbbVie and Iambic Announce AI Drug Discovery Collaboration
- Neutral Sentiment: Valuation and pipeline remain key considerations. ABBV’s shares are above both their 50-day and 200-day moving averages and near their annual high, reflecting investor confidence in its dividend and growth pipeline. However, the stock’s reported P/E ratio of approximately 74.9 leaves less room for disappointment, and the Iambic partnership will require successful clinical development before producing meaningful revenue.
About Representative Sessions
Pete Sessions (Republican Party) is a member of the U.S. House, representing Texas’ 17th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027.
Sessions (Republican Party) ran for re-election to the U.S. House to represent Texas’ 17th Congressional District. He won in the general election on November 5, 2024.
On October 20, 2023, Sessions announced he was running to replace Kevin McCarthy (R) as speaker of the U.S. House in the 118th Congress. Sessions lost the first round of nomination voting on October 24, 2023.
Pete Sessions was born and lives in Waco, Texas. Sessions earned a B.S. from Southwestern University in 1978. Sessions’ career experience includes working as an executive with AT&T.
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.