AbbVie Inc. $ABBV Stock Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its AbbVie position by 25.4% in the third quarter, holding 54,546 shares valued at approximately $14.3 million. Institutional investors collectively own 70.23% of ABBV.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $277.18. Recent targets range as high as $303, supported by growth expectations for Skyrizi, Rinvoq and Vraylar.
• AbbVie reported quarterly revenue of $16.99 billion and adjusted EPS of $3.65, exceeding estimates, and declared a $1.73 quarterly dividend, equivalent to a 2.5% yield. However, the stock’s elevated valuation and ongoing Humira sales erosion remain key risks.

First Citizens Bank & Trust Co. increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 25.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,546 shares of the company's stock after acquiring an additional 11,032 shares during the period. First Citizens Bank & Trust Co.'s holdings in AbbVie were worth $14,269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. ACT Advisors LLC. raised its position in shares of AbbVie by 2.5% in the second quarter. ACT Advisors LLC. now owns 1,688 shares of the company's stock worth $425,000 after buying an additional 41 shares in the last quarter. Willner & Heller LLC grew its position in AbbVie by 0.7% during the second quarter. Willner & Heller LLC now owns 5,852 shares of the company's stock worth $1,472,000 after buying an additional 43 shares in the last quarter. B.O.S.S. Retirement Advisors LLC increased its stake in AbbVie by 3.1% in the 2nd quarter. B.O.S.S. Retirement Advisors LLC now owns 1,427 shares of the company's stock worth $359,000 after acquiring an additional 43 shares during the last quarter. Fielder Capital Group LLC increased its stake in AbbVie by 1.7% in the 2nd quarter. Fielder Capital Group LLC now owns 2,532 shares of the company's stock worth $637,000 after acquiring an additional 43 shares during the last quarter. Finally, Guardian Wealth Advisors LLC NC raised its holdings in shares of AbbVie by 0.4% in the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 11,906 shares of the company's stock valued at $2,996,000 after acquiring an additional 43 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. BNP Paribas Exane boosted their price objective on AbbVie from $218.00 to $247.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Piper Sandler increased their price target on shares of AbbVie from $298.00 to $303.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. Erste Group Bank upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Wednesday, August 5th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $225.00 price objective (up from $203.00) on shares of AbbVie in a report on Tuesday, June 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $280.00 target price on shares of AbbVie in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $277.18.

AbbVie Stock Performance

Shares of ABBV opened at $274.82 on Wednesday. The firm has a market cap of $485.55 billion, a price-to-earnings ratio of 77.63, a PEG ratio of 1.28 and a beta of 0.24. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $283.43. The firm has a 50 day moving average price of $260.41 and a 200-day moving average price of $237.87.

AbbVie (NYSE:ABBV - Get Free Report) last issued 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. The company had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 13.95 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $1.73 dividend. The ex-dividend date is Thursday, October 15th. This represents a $6.92 annualized dividend and a yield of 2.5%. AbbVie's payout ratio is presently 195.48%.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Potential Q3 revenue beat: RBC expects AbbVie to exceed third-quarter revenue estimates, driven by continued momentum for immunology drugs Skyrizi and Rinvoq, as well as psychiatric medicine Vraylar. This supports expectations that newer products can offset Humira’s loss of exclusivity. AbbVie Poised for Q3 Top-Line Beat Driven by Rinvoq, Skyrizi, and Vraylar Therapies, RBC Says
• Positive Sentiment: Encouraging Skyrizi data: New Phase 3 AFFIRM results showed favorable clinical and endoscopic outcomes for subcutaneous Skyrizi in patients with moderately to severely active Crohn’s disease. The data could strengthen Skyrizi’s position in a major growth market and expand AbbVie’s immunology opportunity. AbbVie Presents New Phase 3 AFFIRM Data
• Positive Sentiment: Pipeline and analyst support: Recent Crohn’s disease data for Skyrizi and Rinvoq, cancer-related regulatory milestones for Temab-A, and early metabolic-treatment data are improving the outlook for AbbVie’s post-Humira growth. RBC reaffirmed its “Outperform” rating, although its target implies only limited additional upside. AbbVie Could Be 44% Below Fair Value on Fresh Pipeline Wins
• Neutral Sentiment: Strategic expansion: AbbVie’s acquisition of Apogee and related leadership moves highlight the company’s effort to replenish its pipeline through business development, but the long-term financial impact remains uncertain. Biotech Builder Paragon Imports Apogee’s Top Brass After AbbVie Buyout
• Negative Sentiment: Valuation and execution risks: At a high earnings multiple near its recent peak, ABBV may be vulnerable to profit-taking even with positive clinical news. Investors also remain concerned about Humira’s ongoing sales erosion, increasing immunology competition, and whether Skyrizi and Rinvoq can sustain their rapid growth.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the sale, the executive vice president owned 74,430 shares of the company's stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company's stock.

AbbVie Profile

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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