Central Pacific Bank Trust Division Sells 4,628 Shares of AbbVie Inc. $ABBV

Key Points

• Central Pacific Bank Trust Division cut its AbbVie position by 44.5% in the second quarter, selling 4,628 shares and retaining 5,766 shares valued at approximately $1.45 million. Institutional investors collectively own 70.23% of AbbVie.
• AbbVie reported strong second-quarter results, with revenue rising 10.2% year over year to $16.99 billion and adjusted EPS of $3.65, exceeding analyst expectations. Growth in Skyrizi, Rinvoq and neuroscience products helped offset pressure from older therapies.
• Analyst sentiment remains favorable: several firms raised their price targets, and AbbVie has a consensus “Moderate Buy” rating with an average target of $272.76. The company also declared a quarterly dividend of $1.73 per share, representing an annualized yield of about 2.8%.

Central Pacific Bank Trust Division decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 44.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,766 shares of the company's stock after selling 4,628 shares during the period. Central Pacific Bank Trust Division's holdings in AbbVie were worth $1,451,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ABBV. Canandaigua National Bank & Trust Co. acquired a new position in shares of AbbVie during the 2nd quarter worth about $6,930,000. Arlington Trust Co LLC lifted its stake in AbbVie by 33.1% in the 2nd quarter. Arlington Trust Co LLC now owns 1,150 shares of the company's stock valued at $289,000 after purchasing an additional 286 shares during the last quarter. Financial Enhancement Group LLC bought a new position in AbbVie during the second quarter worth about $229,000. Moody National Bank Trust Division increased its position in AbbVie by 1.1% during the second quarter. Moody National Bank Trust Division now owns 15,834 shares of the company's stock worth $3,984,000 after buying an additional 173 shares during the last quarter. Finally, Trinity Financial Advisors LLC raised its stake in AbbVie by 5.2% in the second quarter. Trinity Financial Advisors LLC now owns 1,071 shares of the company's stock valued at $269,000 after buying an additional 53 shares during the period. Institutional investors own 70.23% of the company's stock.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: BOTOX Cosmetic expansion: The FDA accepted AbbVie’s supplemental application for BOTOX Cosmetic to treat masseter muscle prominence, commonly associated with a more prominent jawline. If approved, it would be the first U.S.-approved neurotoxin for this condition and would add a potential fifth aesthetic indication. The filing is supported by positive Phase 3 results. FDA acceptance of BOTOX Cosmetic application
• Positive Sentiment: Strong second-quarter performance: AbbVie reported revenue of $16.99 billion, up 10.2% year over year and above expectations, while adjusted earnings of $3.65 per share also exceeded consensus. Growth from immunology products Skyrizi and Rinvoq, along with neuroscience, is helping offset pressure from older products. AbbVie second-quarter results
• Positive Sentiment: UBRELVY reimbursement recommendation: Canada’s drug agency recommended conditional public reimbursement for UBRELVY in adults treating acute migraine. The recommendation could improve access and support international sales growth for AbbVie’s migraine franchise. UBRELVY Canadian reimbursement recommendation
• Positive Sentiment: Analyst optimism: Cantor Fitzgerald raised its AbbVie price target to $285 from $265 and maintained an Overweight rating, reflecting confidence in the company’s growth catalysts and pipeline.
• Neutral Sentiment: Pipeline and sector activity: AbbVie’s late-stage ABBV-706 lung-cancer program and telisotuzumab adizutecan remain potential longer-term catalysts, although neither update represents an immediate commercial milestone. Broader biopharmaceutical merger activity may also improve the sector’s sentiment. ABBV-706 lung cancer trial
• Negative Sentiment: Apogee acquisition impact: Although AbbVie raised its 2026 revenue outlook on Skyrizi, Rinvoq and neuroscience growth, the Apogee deal is expected to dilute earnings and increase research-and-development spending. This creates a near-term headwind despite stronger operating momentum.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ABBV shares. Piper Sandler reiterated an "overweight" rating and set a $298.00 target price on shares of AbbVie in a research note on Tuesday, June 23rd. Barclays lifted their price objective 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. Guggenheim raised their target price on shares of AbbVie from $261.00 to $288.00 and gave the stock a "buy" rating in a research note on Tuesday. Wells Fargo & Company upped their price target on shares of AbbVie from $260.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Finally, HSBC restated a "buy" rating and set a $300.00 price objective on shares of AbbVie in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $272.76.

AbbVie Stock Performance

NYSE:ABBV opened at $243.83 on Wednesday. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $267.47. The firm has a market cap of $430.80 billion, a price-to-earnings ratio of 68.88, a P/E/G ratio of 0.81 and a beta of 0.30. The firm's 50-day simple moving average is $240.29 and its 200 day simple moving average is $224.41.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 466.39%. The business had revenue of $16.99 billion during the quarter, compared to analysts' expectations of $16.80 billion. During the same quarter in the previous year, the company earned $2.97 EPS. The business's revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 14.08 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. AbbVie's dividend payout ratio is currently 195.48%.

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.

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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