AbbVie Inc. $ABBV Position Lowered by Eastern Bank

Eastern Bank reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,245 shares of the company's stock after selling 4,410 shares during the period. AbbVie makes up approximately 1.2% of Eastern Bank's holdings, making the stock its 21st largest holding. Eastern Bank's holdings in AbbVie were worth $82,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Heartwood Wealth Advisors LLC raised its holdings in AbbVie by 6.5% in the third quarter. Heartwood Wealth Advisors LLC now owns 1,116 shares of the company's stock valued at $292,000 after buying an additional 68 shares during the period. Miller Global Investments LLC grew its stake in AbbVie by 582.5% during the third quarter. Miller Global Investments LLC now owns 389 shares of the company's stock worth $102,000 after buying an additional 332 shares during the period. Polaris Financial Partners acquired a new stake in shares of AbbVie in the third quarter worth $205,000. GoalVest Advisory LLC raised its stake in shares of AbbVie by 0.8% in the 3rd quarter. GoalVest Advisory LLC now owns 6,630 shares of the company's stock valued at $1,734,000 after acquiring an additional 53 shares during the period. Finally, Private Client Services LLC raised its stake in shares of AbbVie by 2.5% in the 3rd quarter. Private Client Services LLC now owns 3,670 shares of the company's stock valued at $960,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Barclays upped their price target on shares of AbbVie from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their price objective on AbbVie from $295.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, August 17th. Weiss Ratings raised AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 5th. Finally, Guggenheim increased their target price on AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $272.39.

AbbVie Price Performance

ABBV traded up $0.98 on Monday, reaching $263.80. The company's stock had a trading volume of 1,304,522 shares, compared to its average volume of 6,413,597. AbbVie Inc. has a 1 year low of $190.75 and a 1 year high of $269.39. The business's 50 day moving average is $257.87 and its 200 day moving average is $234.68. The stock has a market cap of $466.09 billion, a price-to-earnings ratio of 74.55, a price-to-earnings-growth ratio of 1.19 and a beta of 0.24.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share (EPS) 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 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 EPS. AbbVie'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. As a group, research analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, October 15th. AbbVie's payout ratio is 195.48%.

Insider Transactions at AbbVie

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 transaction, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This represents a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

About AbbVie

AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women's health.

The company's products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.

AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.

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