AbbVie Inc.
ABBV · Pharmaceutical Preparations · 1.77B shares · +5%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $1.2B (gross $2.0B, SBC $747M)
Reference price $233.56 · est. market cap ~$412.7B — last insider sale, 2026-03-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A87Wide-moat diversified biopharma franchise with top-decile cash generation and a deep, de-risked late-stage pipeline.
Strengths
- Elite free cash flow ($17.8B, 99.7th pct) and operating/OCF margins (~92nd pct)
- Diversified Skyrizi/Rinvoq growth plus positive pivotal readouts (VIALE-A AML HR 0.58; LCIG Parkinson's)
- Strong ROA (87th pct) and interest coverage (92nd pct)
Risks
- Negative book equity and reported ROE are buyback/contingent-consideration artifacts, not distress
- Skyrizi+Rinvoq concentration (~42% of revenue) and IRA price-setting/biosimilar exposure
- Low current/quick ratios (~10th pct) and thin gross margin reflect accounting/amortization, not liquidity stress
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Negative equityNegative book equity (debt/equity -19.73)
- Weak liquidityCurrent ratio 0.67 (<1)
- Strong balance sheetStrong balance sheet — $5.5B cash & investments
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 5 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$11M, last 6mo) Form 4 ↗
- Trial readout soonUpcoming trial readout ~2026-06 — PHASE2 · Diabetic Retinopathy (DR)
- Trial resultTrial topline data reported — see 8-K for outcome 8-K ↗
- FDA recallFDA recall (Class III) — PRED MILD, prednisolone acetate ophthalmic suspension, USP, 0.12%, 10 mL, Steril (2026-05-18)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
70.2%
Operating margin
24.6%
Net margin
6.9%
Return on equity
-129.2%
Return on assets
3.2%
ROIC
19.4%
Revenue growth (QoQ)
-9.7%
Net-income growth
-1.2%
Debt / equity
-19.7×
Interest coverage
5.2×
Current ratio
0.7×
Free cash flow
$17.8B
Tangible book value
-$91.6B
Cash & investments
$5.5B
Stock comp / revenue
1.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-08 | FREYMAN THOMAS C | Grant | 1.1K | — |
| 2026-05-08 | WADDELL FREDERICK H | Grant | 1.1K | — |
| 2026-05-08 | FALK THOMAS J | Grant | 1.1K | — |
| 2026-05-08 | RAPP EDWARD J | Grant | 1.1K | — |
| 2026-05-08 | AUSTIN ROXANNE S | Grant | 1.1K | — |
| 2026-05-08 | Quaggin Susan E | Grant | 1.1K | — |
| 2026-05-08 | Davis Jennifer L. | Grant | 1.1K | — |
| 2026-05-08 | MEYER MELODY B | Grant | 1.1K | — |
| 2026-05-08 | BURNSIDE WILLIAM H.L. | Grant | 1.1K | — |
| 2026-05-08 | Hart Brett J | Grant | 1.1K | — |
| 2026-05-08 | Roberts Rebecca B | Grant | 1.1K | — |
| 2026-03-04 | Purdue David Ryan | Sell | 5.2K | $233.56 |
| 2026-03-02 | Siatis Perry C | Sell | 10K | $234.66 |
| 2026-03-02 | Siatis Perry C | Sell | 2.6K | $235.26 |
| 2026-03-02 | Siatis Perry C | Sell | 5.8K | $233.51 |
| 2026-02-27 | Michael Robert A. | Tax withheld | 37K | $232.08 |
| 2026-02-27 | SALEKI-GERHARDT AZITA | Tax withheld | 16K | $232.08 |
| 2026-02-27 | Siatis Perry C | Tax withheld | 15K | $232.08 |
| 2026-02-27 | Reents Scott T | Tax withheld | 22K | $232.08 |
| 2026-02-27 | Donoghoe Nicholas | Tax withheld | 13K | $232.08 |
| 2026-02-27 | Stewart Jeffrey Ryan | Tax withheld | 24K | $232.08 |
| 2026-02-27 | Purdue David Ryan | Tax withheld | 2.1K | $232.08 |
| 2026-02-27 | Crum Demetris D | Tax withheld | 1.6K | $232.08 |
| 2026-02-27 | Purdue David Ryan | Tax withheld | 2.7K | $232.08 |
| 2026-02-27 | Thakkar Roopal | Tax withheld | 8.0K | $232.08 |
| 2026-02-25 | Siatis Perry C | Option exercise | 7.8K | $175.28 |
| 2026-02-25 | Siatis Perry C | Option exercise | 7.3K | $192.86 |
| 2026-02-25 | Siatis Perry C | Option exercise | 7.3K | $149.62 |
| 2026-02-25 | Siatis Perry C | Sell | 22K | $230.00 |
| 2026-02-18 | Michael Robert A. | Grant | 22K | — |
| 2026-02-18 | SALEKI-GERHARDT AZITA | Grant | 17K | — |
| 2026-02-18 | SALEKI-GERHARDT AZITA | Grant | 6.1K | — |
| 2026-02-18 | SALEKI-GERHARDT AZITA | Grant | 7.1K | — |
| 2026-02-18 | SALEKI-GERHARDT AZITA | Grant | 6.6K | — |
| 2026-02-18 | Donoghoe Nicholas | Grant | 6.2K | — |
| 2026-02-18 | Crum Demetris D | Grant | 1.2K | — |
| 2026-02-18 | Crum Demetris D | Grant | 1.2K | — |
| 2026-02-18 | Purdue David Ryan | Grant | 2.5K | — |
| 2026-02-18 | Purdue David Ryan | Grant | 890 | — |
| 2026-02-18 | Purdue David Ryan | Grant | 1.3K | — |
| 2026-02-18 | Purdue David Ryan | Grant | 1.4K | — |
| 2026-02-18 | Thakkar Roopal | Grant | 6.0K | — |
| 2026-02-18 | Thakkar Roopal | Grant | 2.1K | — |
| 2026-02-18 | Thakkar Roopal | Grant | 3.3K | — |
| 2026-02-18 | Thakkar Roopal | Grant | 6.6K | — |
| 2026-02-18 | Siatis Perry C | Grant | 16K | — |
| 2026-02-18 | Siatis Perry C | Grant | 5.8K | — |
| 2026-02-18 | Siatis Perry C | Grant | 5.6K | — |
| 2026-02-18 | Siatis Perry C | Grant | 5.8K | — |
| 2026-02-18 | Reents Scott T | Grant | 25K | — |
| 2026-02-18 | Reents Scott T | Grant | 8.9K | — |
| 2026-02-18 | Reents Scott T | Grant | 7.6K | — |
| 2026-02-18 | Reents Scott T | Grant | 7.3K | — |
| 2026-02-18 | Donoghoe Nicholas | Grant | 13K | — |
| 2026-02-18 | Donoghoe Nicholas | Grant | 4.6K | — |
| 2026-02-18 | Donoghoe Nicholas | Grant | 5.2K | — |
| 2026-02-18 | Stewart Jeffrey Ryan | Grant | 26K | — |
| 2026-02-18 | Stewart Jeffrey Ryan | Grant | 9.3K | — |
| 2026-02-18 | Stewart Jeffrey Ryan | Grant | 9.4K | — |
| 2026-02-18 | Stewart Jeffrey Ryan | Grant | 9.0K | — |
| 2026-02-18 | Michael Robert A. | Grant | 34K | — |
| 2026-02-18 | Michael Robert A. | Grant | 12K | — |
| 2026-02-18 | Michael Robert A. | Grant | 14K | — |
| 2025-08-12 | SALEKI-GERHARDT AZITA | Option exercise | 42K | $54.86 |
| 2025-08-12 | SALEKI-GERHARDT AZITA | Sell | 42K | $198.42 |
| 2025-08-05 | Donoghoe Nicholas | Sell | 3.2K | $198.27 |
| 2025-08-05 | Donoghoe Nicholas | Sell | 10K | $198.59 |
| 2025-05-09 | FALK THOMAS J | Grant | 1.2K | — |
| 2025-05-09 | TILTON GLENN F | Grant | 1.2K | — |
| 2025-05-09 | FREYMAN THOMAS C | Grant | 1.2K | — |
| 2025-05-09 | WADDELL FREDERICK H | Grant | 1.2K | — |
| 2025-05-09 | Roberts Rebecca B | Grant | 1.2K | — |
| 2025-05-09 | Quaggin Susan E | Grant | 1.2K | — |
| 2025-05-09 | MEYER MELODY B | Grant | 1.2K | — |
| 2025-05-09 | Hart Brett J | Grant | 1.2K | — |
| 2025-05-09 | Davis Jennifer L. | Grant | 1.2K | — |
| 2025-05-09 | BURNSIDE WILLIAM H.L. | Grant | 1.2K | — |
| 2025-05-09 | AUSTIN ROXANNE S | Grant | 1.2K | — |
| 2025-05-09 | Alpern Robert J | Grant | 1.2K | — |
| 2025-05-09 | RAPP EDWARD J | Grant | 1.2K | — |
| 2025-03-31 | GONZALEZ RICHARD A | Gift | 2.5K | — |
| 2025-03-31 | Stewart Jeffrey Ryan | Option exercise | 26K | $79.02 |
| 2025-03-31 | Stewart Jeffrey Ryan | Sell | 26K | $209.49 |
| 2025-03-31 | Stewart Jeffrey Ryan | Sell | 33K | $210.54 |
| 2025-03-14 | Reents Scott T | Sell | 18K | $212.34 |
| 2025-03-03 | RICHMOND TIMOTHY J. | Sell | 5.7K | $209.80 |
| 2025-03-03 | RICHMOND TIMOTHY J. | Sell | 15K | $210.66 |
| 2025-03-03 | GONZALEZ RICHARD A | Sell | 6.2K | $210.53 |
| 2025-03-03 | RICHMOND TIMOTHY J. | Sell | 600 | $211.32 |
| 2025-03-03 | Siatis Perry C | Option exercise | 7.3K | $149.62 |
| 2025-03-03 | Siatis Perry C | Option exercise | 7.8K | $175.28 |
| 2025-03-03 | Siatis Perry C | Sell | 18K | $210.00 |
| 2025-03-03 | Siatis Perry C | Option exercise | 2.9K | $144.54 |
| 2025-02-28 | Siatis Perry C | Sell | 363 | $207.19 |
| 2025-02-28 | Michael Robert A. | Tax withheld | 27K | $205.02 |
| 2025-02-28 | Stewart Jeffrey Ryan | Tax withheld | 20K | $205.02 |
| 2025-02-28 | SALEKI-GERHARDT AZITA | Tax withheld | 17K | $205.02 |
| 2025-02-28 | RICHMOND TIMOTHY J. | Tax withheld | 17K | $205.02 |
| 2025-02-28 | GONZALEZ RICHARD A | Tax withheld | 73K | $205.02 |
| 2025-02-28 | GONZALEZ RICHARD A | Sell | 92K | $205.11 |
| 2025-02-28 | Siatis Perry C | Tax withheld | 7.9K | $205.02 |
| 2025-02-28 | Siatis Perry C | Sell | 2.7K | $205.38 |
| 2025-02-28 | Siatis Perry C | Sell | 6.8K | $206.62 |
| 2025-02-28 | Thakkar Roopal | Tax withheld | 4.7K | $205.02 |
| 2025-02-28 | Buckbee Kevin K | Tax withheld | 3.7K | $205.02 |
| 2025-02-28 | Donoghoe Nicholas | Tax withheld | 11K | $205.02 |
| 2025-02-28 | Reents Scott T | Tax withheld | 11K | $205.02 |
| 2025-02-26 | RICHMOND TIMOTHY J. | Sell | 4.8K | $202.93 |
| 2025-02-26 | RICHMOND TIMOTHY J. | Sell | 1.5K | $203.64 |
| 2025-02-26 | RICHMOND TIMOTHY J. | Option exercise | 22K | $114.36 |
| 2025-02-26 | RICHMOND TIMOTHY J. | Sell | 4.3K | $201.97 |
| 2025-02-26 | RICHMOND TIMOTHY J. | Sell | 13K | $202.92 |
| 2025-02-26 | RICHMOND TIMOTHY J. | Sell | 4.8K | $203.63 |
| 2025-02-26 | Buckbee Kevin K | Sell | 16K | $203.41 |
| 2025-02-26 | RICHMOND TIMOTHY J. | Sell | 1.4K | $202.06 |
| 2025-02-26 | Buckbee Kevin K | Sell | 2.7K | $203.40 |
| 2025-02-26 | Buckbee Kevin K | Option exercise | 9.7K | $93.50 |
| 2025-02-26 | Buckbee Kevin K | Option exercise | 6.5K | $105.92 |
| 2025-02-20 | Siatis Perry C | Sell | 1.8K | $197.40 |
| 2025-02-20 | Siatis Perry C | Sell | 4.0K | $198.12 |
| 2025-02-13 | Michael Robert A. | Grant | 14K | — |
| 2025-02-13 | GONZALEZ RICHARD A | Grant | 81K | — |
| 2025-02-13 | GONZALEZ RICHARD A | Grant | 33K | — |
| 2025-02-13 | GONZALEZ RICHARD A | Grant | 30K | — |
| 2025-02-13 | GONZALEZ RICHARD A | Grant | 27K | — |
| 2025-02-13 | Buckbee Kevin K | Grant | 3.6K | — |
| 2025-02-13 | Buckbee Kevin K | Grant | 1.5K | — |
| 2025-02-13 | Buckbee Kevin K | Grant | 1.6K | — |
| 2025-02-13 | Buckbee Kevin K | Grant | 1.7K | — |
| 2025-02-13 | Thakkar Roopal | Grant | 3.6K | — |
| 2025-02-13 | Thakkar Roopal | Grant | 1.5K | — |
| 2025-02-13 | Thakkar Roopal | Grant | 2.1K | — |
| 2025-02-13 | Thakkar Roopal | Grant | 3.3K | — |
| 2025-02-13 | Stewart Jeffrey Ryan | Grant | 19K | — |
| 2025-02-13 | Stewart Jeffrey Ryan | Grant | 7.8K | — |
| 2025-02-13 | Stewart Jeffrey Ryan | Grant | 9.3K | — |
| 2025-02-13 | Stewart Jeffrey Ryan | Grant | 9.4K | — |
| 2025-02-13 | Siatis Perry C | Grant | 4.5K | — |
| 2025-02-13 | Siatis Perry C | Grant | 1.8K | — |
| 2025-02-13 | Siatis Perry C | Grant | 5.8K | — |
| 2025-02-13 | Siatis Perry C | Grant | 5.6K | — |
| 2025-02-13 | SALEKI-GERHARDT AZITA | Grant | 18K | — |
| 2025-02-13 | SALEKI-GERHARDT AZITA | Grant | 7.4K | — |
| 2025-02-13 | SALEKI-GERHARDT AZITA | Grant | 6.1K | — |
| 2025-02-13 | SALEKI-GERHARDT AZITA | Grant | 7.1K | — |
| 2025-02-13 | RICHMOND TIMOTHY J. | Grant | 18K | — |
| 2025-02-13 | RICHMOND TIMOTHY J. | Grant | 7.4K | — |
| 2025-02-13 | RICHMOND TIMOTHY J. | Grant | 5.8K | — |
| 2025-02-13 | RICHMOND TIMOTHY J. | Grant | 7.0K | — |
| 2025-02-13 | Reents Scott T | Grant | 5.8K | — |
| 2025-02-13 | Reents Scott T | Grant | 2.4K | — |
| 2025-02-13 | Reents Scott T | Grant | 8.9K | — |
| 2025-02-13 | Reents Scott T | Grant | 7.6K | — |
| 2025-02-13 | Donoghoe Nicholas | Grant | 11K | — |
| 2025-02-13 | Donoghoe Nicholas | Grant | 4.5K | — |
| 2025-02-13 | Donoghoe Nicholas | Grant | 4.6K | — |
| 2025-02-13 | Donoghoe Nicholas | Grant | 5.2K | — |
| 2025-02-13 | Michael Robert A. | Grant | 25K | — |
| 2025-02-13 | Michael Robert A. | Grant | 10K | — |
| 2025-02-13 | Michael Robert A. | Grant | 12K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT04401748 ↗ | Study Of Venetoclax Tablet With Intravenous or Subcutaneous Azacitidine to Assess Change in Disease Activity In Adult Participants With Newly Diagnosed Higher-Risk Myelodysplastic Syndrome Myelodysplastic Syndrome (MDS) | PHASE3 | Active Not Recruiting | 2027-07-01 |
| NCT02899052 ↗ | Study of Venetoclax in Combination With Carfilzomib and Dexamethasone in Participants With Relapsed or Refractory Multiple Myeloma (MM) Multiple Myeloma | PHASE2 | Active Not Recruiting | 2027-06-01 |
| NCT02942290 ↗ | A Study Evaluating Venetoclax in Combination With Azacitidine in Participants With Treatment-Naïve Higher-Risk Myelodysplastic Syndromes (MDS) Myelodysplastic Syndromes (MDS) | PHASE1 | Active Not Recruiting | 2027-01-01 |
| NCT04704921 ↗ | Pivotal 1 Study of ABBV-RGX-314 (Also Known as RGX-314) Gene Therapy Administered Via Subretinal Delivery One Time in Participants With nAMD AMD, nAMD | PHASE2/PHASE3 | Active Not Recruiting | 2026-12-01 |
| NCT05407636 ↗ | Pivotal 2 Study of RGX-314 Gene Therapy in Participants With nAMD AMD, nAMD | PHASE3 | Recruiting | 2026-10-01 |
| NCT04514653 ↗ | RGX-314 Gene Therapy Administered in the Suprachoroidal Space for Participants With Neovascular Age-Related Macular Degeneration (nAMD) Neovascular Age-Related Macular Degeneration (nAMD) | PHASE2 | Active Not Recruiting | 2026-08-01 |
| NCT04567550 ↗ | RGX-314 Gene Therapy Administered in the Suprachoroidal Space for Participants With Diabetic Retinopathy (DR) With and Without Center Involved-Diabetic Macular Edema (CI-DME) Diabetic Retinopathy (DR), Center-Involved Diabetic Macular Edema (CI-DME) | PHASE2 | Active Not Recruiting | 2026-06-01 |
| NCT05144243 ↗ | Study to Assess Adverse Events and Change in Disease State of Oral Venetoclax in Combination With Subcutaneous (SC) Azacitidine in Newly Diagnosed Adult Participants With Acute Myeloid Leukemia (AML) Who Are Ineligible for Intensive Chemotherapy in China Acute Myeloid Leukemia (AML) | PHASE4 | Active Not Recruiting | 2026-03-01 |
| NCT02993523 ↗ | A Study of Venetoclax in Combination With Azacitidine Versus Azacitidine in Treatment Naïve Participants With Acute Myeloid Leukemia Who Are Ineligible for Standard Induction Therapy Acute Myeloid Leukemia (AML) | PHASE3 | Active Not Recruiting | 2021-12-01 |
| NCT05652205 ↗ | A Study to Assess Adverse Events and Change in Symptoms With Linaclotide Versus Placebo in Pediatric Subjects, Ages 2 to 5 Years, With Functional Constipation Functional Constipation (FC), Chronic Idiopathic Constipation (CIC) | PHASE3 | Completed | 2025-09-02 |
| NCT05760313 ↗ | A Study to Assess Adverse Events and Change in Disease Activity in Pediatric Participants (Age 6 Months to <2 Years) With Functional Constipation Who Are Treated With Linaclotide Functional Constipation | PHASE2 | Completed | 2025-06-09 |
| NCT04166058 ↗ | Long-term Safety of Linaclotide in Pediatric Participants With FC or IBS-C Irritable Bowel Syndrome With Constipation, Functional Constipation | PHASE3 | Completed | 2025-06-05 |
| NCT00788684 ↗ | Safety Study of ABT-263 in Combination With Rituximab in Lymphoid Cancers CD20-Positive Lymphoid Malignancies, Chronic Lymphoid Leukemia | PHASE1 | Completed | 2025-02-07 |
| NCT04026113 ↗ | Linaclotide Safety and Efficacy in Pediatric Participants, 6 to 17 Years of Age, With Irritable Bowel Syndrome With Constipation (IBS-C) or Functional Constipation (FC) Functional Constipation, Irritable Bowel Syndrome With Constipation | PHASE3 | Completed | 2024-05-20 |
| NCT02966782 ↗ | A Study Evaluating Venetoclax Alone and in Combination With Azacitidine in Participants With Relapsed/Refractory Myelodysplastic Syndromes (MDS) Myelodysplastic Syndromes (MDS) | PHASE1 | Completed | 2023-04-05 |
| NCT03518034 ↗ | A Study to Evaluate the Effect of Testosterone Replacement Therapy (TRT) on the Incidence of Major Adverse Cardiovascular Events (MACE) and Efficacy Measures in Hypogonadal Men Hypogonadism, Cardiovascular Diseases | PHASE4 | Completed | 2023-01-19 |
| NCT04196283 ↗ | A Study to Determine the Safety, Tolerability, Pharmacokinetics, and Preliminary Efficacy of ABBV-368 Plus Tilsotolimod and Other Therapy Combinations in Participants With Recurrent/Metastatic Head and Neck Squamous Cell Carcinoma Advanced Solid Tumors Cancer | PHASE1 | Completed | 2022-10-27 |
| NCT01682616 ↗ | A Phase 1b Study Evaluating the Safety and Tolerability of ABT-199 in Combination With Rituximab in Subjects With Relapsed Chronic Lymphocytic Leukemia and Small Lymphocytic Lymphoma Small Lymphocytic Lymphoma, Chronic Lymphocytic Leukemia | PHASE1 | Completed | 2022-06-23 |
| NCT02203773 ↗ | Study of ABT-199 (GDC-0199) in Combination With Azacitidine or Decitabine (Chemo Combo) in Subjects With Acute Myelogenous Leukemia (AML) Acute Myelogenous Leukemia, Myelogenous Leukemia | PHASE1 | Terminated | 2022-06-16 |
| NCT00481091 ↗ | A Study of ABT-263 in Participants With Relapsed or Refractory Chronic Lymphocytic Leukemia Chronic Lymphocytic Leukemia | PHASE1/PHASE2 | Completed | 2022-05-12 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-18 | 0001104659-26-076067 ↗ |
| 8-K | 2026-05-12 | 2026-05-08 | 0001104659-26-059484 ↗ |
| 10-Q | 2026-05-08 | 2026-03-31 | 0001551152-26-000017 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001551152-26-000013 ↗ |
| 8-K | 2026-04-03 | 2026-04-03 | 0001551152-26-000011 ↗ |
| 8-K | 2026-03-04 | 2026-03-04 | 0001104659-26-023534 ↗ |
| 8-K | 2026-02-26 | 2026-02-24 | 0001104659-26-020643 ↗ |
| 10-K | 2026-02-20 | 2025-12-31 | 0001551152-26-000008 ↗ |
| 8-K | 2026-02-04 | 2026-02-04 | 0001551152-26-000004 ↗ |
| 8-K | 2026-01-07 | 2026-01-07 | 0001551152-26-000002 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001551152-25-000049 ↗ |
| 8-K | 2025-10-31 | 2025-10-31 | 0001551152-25-000047 ↗ |