AbbVie Inc. $ABBV Stock Position Cut by Conning Inc.

Conning Inc. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 10.5% in the third quarter, HoldingsChannel reports. The firm owned 155,344 shares of the company’s stock after selling 18,237 shares during the period. AbbVie makes up approximately 1.2% of Conning Inc.’s holdings, making the stock its 14th largest holding. Conning Inc.’s holdings in AbbVie were worth $40,636,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. AMI Investment Management Inc. purchased a new position in AbbVie in the third quarter worth about $245,000. Sigma Investment Counselors Inc. lifted its stake in shares of AbbVie by 10.6% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 34,537 shares of the company’s stock worth $9,034,000 after purchasing an additional 3,299 shares during the period. Victory Financial Group LLC lifted its stake in shares of AbbVie by 31.2% in the 3rd quarter. Victory Financial Group LLC now owns 11,631 shares of the company’s stock worth $3,042,000 after purchasing an additional 2,768 shares during the period. Guerra Pan Advisors LLC boosted its holdings in shares of AbbVie by 2.1% in the third quarter. Guerra Pan Advisors LLC now owns 3,100 shares of the company’s stock worth $876,000 after buying an additional 65 shares during the last quarter. Finally, Willow Creek Wealth Management Inc. boosted its holdings in shares of AbbVie by 3.7% in the third quarter. Willow Creek Wealth Management Inc. now owns 1,480 shares of the company’s stock worth $387,000 after buying an additional 53 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.1%

NYSE ABBV opened at $286.10 on Thursday. The stock’s 50 day moving average is $268.20 and its 200 day moving average is $236.51. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $291.40. The stock has a market cap of $505.47 billion, a PE ratio of 80.82, a P/E/G ratio of 1.30 and a beta of 0.24.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%. The business had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the prior year, the company posted $2.97 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, analysts forecast that AbbVie Inc. will post 13.92 EPS for the current fiscal 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 issued a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. AbbVie’s payout ratio is 195.48%.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. Wolfe Research raised shares of AbbVie from a “peer perform” rating to an “outperform” rating and upped their target price for the company from $235.00 to $300.00 in a report on Thursday, August 13th. HSBC increased their price target on shares of AbbVie from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Erste Group Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. Bank of America reissued a “buy” rating on shares of AbbVie in a report on Tuesday, September 8th. Finally, Canaccord Genuity Group increased their target price on shares of AbbVie from $282.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $279.86.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie submitted a Biologics License Application to the FDA for etentamig, a monthly-dosed BCMA x CD3 bispecific antibody for adults with relapsed or refractory multiple myeloma. The Phase 3 CERVINO study reportedly delivered statistically significant improvements in overall response rate and progression-free survival versus standard therapies, adding a potential growth product to AbbVie’s oncology pipeline. AbbVie Submits BLA for Etentamig
• Positive Sentiment: AbbVie’s growth drivers remain in focus. Skyrizi and Rinvoq are expected to help offset Humira’s decline, while the FDA’s approval of a subcutaneous induction option for Skyrizi in Crohn’s disease could improve convenience and broaden adoption through at-home treatment. Skyrizi Crohn’s Disease Approval
• Neutral Sentiment: Investors are preparing for AbbVie’s third-quarter results, with attention on Skyrizi and Rinvoq sales, expense trends, updated guidance, and the sustainability of earnings growth. The company previously reported quarterly revenue and adjusted earnings above consensus expectations.
• Negative Sentiment: Analysts continue to debate whether ABBV is fully valued after a strong rally. Its elevated valuation leaves less room for disappointment, while rising expenses, softer estimates, and intensifying competition could pressure near-term results. AbbVie Patent Cliff Analysis
• Negative Sentiment: The company’s dividend appeal faces a longer-term test as investors seek evidence that Skyrizi and Rinvoq can replace lost Humira revenue and support continued payout growth. High Treasury yields also make income-oriented stocks compete harder for investor capital.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’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 completion of the transaction, the executive vice president owned 74,430 shares in the company, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

About AbbVie

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.