AbbVie Inc. $ABBV Stock Sold by Conning Inc.

Conning Inc. reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,344 shares of the company's stock after selling 18,237 shares during the period. AbbVie accounts for about 1.2% of Conning Inc.'s investment portfolio, making the stock its 14th largest holding. Conning Inc.'s holdings in AbbVie were worth $40,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lifelong Wealth Advisors Inc. grew its stake in shares of AbbVie by 2.1% in the 3rd quarter. Lifelong Wealth Advisors Inc. now owns 1,755 shares of the company's stock worth $459,000 after buying an additional 36 shares during the last quarter. IMG Wealth Management Inc. increased its position in AbbVie by 22.8% during the 3rd quarter. IMG Wealth Management Inc. now owns 194 shares of the company's stock valued at $51,000 after buying an additional 36 shares in the last quarter. James T. Borello RIA increased its position in AbbVie by 3.5% during the 3rd quarter. James T. Borello RIA now owns 1,192 shares of the company's stock valued at $312,000 after buying an additional 40 shares in the last quarter. ACT Advisors LLC. raised its stake in AbbVie by 2.5% during the second quarter. ACT Advisors LLC. now owns 1,688 shares of the company's stock valued at $425,000 after buying an additional 41 shares during the last quarter. Finally, SYM FINANCIAL Corp raised its stake in AbbVie by 1.0% during the third quarter. SYM FINANCIAL Corp now owns 4,190 shares of the company's stock valued at $1,096,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction 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 sale, the executive vice president directly owned 74,430 shares of the company's stock, valued at $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Key AbbVie News

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.

AbbVie Stock Down 0.1%

Shares of ABBV opened at $286.10 on Thursday. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $291.40. The company has a market capitalization of $505.47 billion, a P/E ratio of 80.82, a price-to-earnings-growth ratio of 1.30 and a beta of 0.24. The firm has a 50 day moving average of $268.20 and a 200 day moving average of $236.51.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $16.80 billion. During the same period in the prior year, the firm posted $2.97 EPS. The firm's quarterly revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 13.92 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. AbbVie's dividend payout ratio is presently 195.48%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Erste Group Bank raised AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Scotiabank raised their price target on AbbVie from $280.00 to $320.00 and gave the company an "outperform" rating in a report on Tuesday, October 6th. Barclays lifted their price target on AbbVie from $300.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 21st. BMO Capital Markets upped their price target on shares of AbbVie from $258.00 to $300.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. Finally, BNP Paribas Exane increased their price objective on shares of AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $279.86.

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.

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