Brandywine Trust Co. Takes $25.38 Million Position in AbbVie Inc. $ABBV

Brandywine Trust Co. purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 100,852 shares of the company's stock, valued at approximately $25,378,000. AbbVie comprises about 4.1% of Brandywine Trust Co.'s investment portfolio, making the stock its 4th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Ranch Capital Advisors Inc. boosted its position in shares of AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock valued at $3,238,000 after buying an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK raised its position in AbbVie by 11.2% in the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company's stock valued at $112,516,000 after buying an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in AbbVie during the 2nd quarter valued at $23,557,000. Wedge Capital Management L L P NC lifted its stake in AbbVie by 7.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company's stock valued at $33,865,000 after acquiring an additional 9,380 shares in the last quarter. Finally, Mission Wealth Management LP boosted its holdings in AbbVie by 119.1% during the 2nd 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ABBV shares. Bank of America increased their target price on shares of AbbVie from $234.00 to $276.00 and gave the company a "buy" rating in a report on Friday, July 10th. Morgan Stanley reiterated an "overweight" rating and issued a $296.00 price objective on shares of AbbVie in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their target price on shares of AbbVie from $260.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. BMO Capital Markets boosted their target price on AbbVie from $258.00 to $300.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. Finally, Wells Fargo & Company upped 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 analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $275.95.

AbbVie Trading Down 0.4%

Shares of NYSE ABBV opened at $260.69 on Friday. The stock has a fifty day simple moving average of $254.57 and a two-hundred day simple moving average of $229.87. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $267.47. The firm has a market cap of $460.58 billion, a price-to-earnings ratio of 73.64, a price-to-earnings-growth ratio of 1.18 and a beta of 0.29.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (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 business had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period last year, the business posted $2.97 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Analysts forecast that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

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

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Etentamig delivers positive Phase 3 results. AbbVie said its CERVINO trial met both primary endpoints in relapsed/refractory multiple myeloma. The treatment produced a 74% objective response rate and reduced the risk of disease progression or death by 60% versus standard therapies. The results support a potential new oncology growth driver and may allow AbbVie to compete for share in the increasingly competitive multiple myeloma market. AbbVie CERVINO Phase 3 results
• Positive Sentiment: Apogee expands AbbVie’s immunology pipeline. AbbVie completed its approximately $10.9 billion acquisition of Apogee Therapeutics, adding late-stage zumilokibart for atopic dermatitis and additional programs targeting asthma and other inflammatory diseases. The deal strengthens AbbVie’s post-Humira growth prospects and diversifies its pipeline. AbbVie completes Apogee acquisition
• Neutral Sentiment: Full-year earnings guidance was reaffirmed. AbbVie maintained adjusted 2026 EPS guidance of $13.87 to $14.07 and third-quarter guidance of $3.84 to $3.88. The range is broadly consistent with expectations, but its midpoint is slightly below the current consensus estimate of $14.02, limiting the immediate upside reaction.
• Negative Sentiment: Acquisition costs create near-term pressure. The Apogee transaction is expected to dilute earnings initially and become accretive only later, reportedly around 2032. Investors may therefore focus on the substantial cash commitment and the long wait before financial benefits fully materialize. AbbVie Apogee acquisition analysis

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction dated 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 $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by company insiders.

About AbbVie

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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