421,257 Shares in AbbVie Inc. $ABBV Acquired by Glenview Trust Co

Key Points

• Glenview Trust Co. acquired 421,257 AbbVie shares during the second quarter, valued at approximately $91.6 million. Institutional investors and hedge funds collectively own 70.23% of ABBV.
• AbbVie reported strong quarterly results, with revenue rising 10.2% year over year to $16.99 billion and EPS of $3.65, exceeding analyst expectations. Growth from Skyrizi and Rinvoq is helping offset continued Humira revenue declines.
• Analysts maintain a favorable outlook: AbbVie has a consensus “Moderate Buy” rating and an average price target of $275.95, while its pipeline gained potential from the $10.9 billion Apogee Therapeutics acquisition and positive Phase 3 results for etentamig.

Glenview Trust Co purchased a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 421,257 shares of the company's stock, valued at approximately $91,619,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Ranch Capital Advisors Inc. lifted its stake in AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock worth $3,238,000 after purchasing an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK boosted its holdings in shares of AbbVie by 11.2% in the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company's stock valued at $112,516,000 after acquiring an additional 45,132 shares during the period. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of AbbVie in the second quarter valued at approximately $23,557,000. Wedge Capital Management L L P NC grew its position in shares of AbbVie by 7.5% during the second quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company's stock worth $33,865,000 after acquiring an additional 9,380 shares during the last quarter. Finally, Mission Wealth Management LP grew its position in shares of AbbVie by 119.1% during the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company's stock worth $17,376,000 after acquiring an additional 37,531 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Etentamig delivers a major Phase 3 win: AbbVie said its investigational BCMA x CD3 therapy met both primary endpoints in the CERVINO trial for relapsed/refractory multiple myeloma. Etentamig produced a 74% objective response rate versus 45.7% for standard therapies and reduced the risk of disease progression or death by 60%. The results could support a regulatory submission and give AbbVie an opportunity to compete in the growing BCMA-targeted treatment market. AbbVie Announces Positive Topline Results from the Phase 3 CERVINO Trial
• Positive Sentiment: Apogee acquisition expands immunology pipeline: AbbVie completed its approximately $10.9 billion purchase of Apogee Therapeutics. The deal adds late-stage zumilokibart for atopic dermatitis and additional respiratory and inflammatory disease programs, potentially strengthening growth beyond Humira. AbbVie Completes Acquisition of Apogee Therapeutics
• Positive Sentiment: Growth products continue to offset Humira erosion: Skyrizi and Rinvoq remain key drivers, with reported second-quarter sales growth of 24% and 25%, respectively. AbbVie’s established dividend record and broader pipeline also support the long-term investment case.
• Neutral Sentiment: Financial guidance was reaffirmed: AbbVie maintained its 2026 adjusted EPS outlook of $13.87–$14.07 and third-quarter guidance of $3.84–$3.88. However, the Apogee transaction is expected to dilute earnings initially before becoming accretive later in the decade. AbbVie Completes Acquisition of Apogee Therapeutics
• Negative Sentiment: Humira remains a significant headwind: The flagship drug’s revenue continues to fall following biosimilar competition, raising questions about how quickly newer products can replace the lost cash flow and support future dividend growth.

AbbVie Trading Down 0.1%

Shares of ABBV opened at $256.27 on Monday. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $267.47. The firm has a market capitalization of $452.78 billion, a P/E ratio of 72.39, a PEG ratio of 1.16 and a beta of 0.29. The firm's 50-day moving average is $254.66 and its two-hundred day moving average is $230.05.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts' consensus estimates of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the previous year, the business earned $2.97 earnings per share. AbbVie's quarterly revenue was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Analysts predict that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Wednesday, July 15th. AbbVie's payout ratio is currently 195.48%.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. This represents a 30.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ABBV shares. Wolfe Research upgraded shares of AbbVie from a "peer perform" rating to an "outperform" rating and set a $300.00 price target for the company in a research note on Thursday, August 13th. Guggenheim boosted their price target on AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Evercore set a $235.00 price objective on AbbVie in a research report on Friday, May 15th. BNP Paribas Exane lifted their target price on AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their target price on AbbVie from $295.00 to $300.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $275.95.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

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