Cibc World Market Inc. Takes Position in AbbVie Inc. $ABBV

Key Points

• CIBC World Market Inc. acquired 606,183 AbbVie shares in the second quarter, valued at approximately $152.5 million. Institutional investors collectively own 70.23% of ABBV.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $275.95, above the reported share price of $260.69.
• AbbVie exceeded quarterly earnings and revenue expectations, reporting $3.65 in EPS and $16.99 billion in revenue, while paying a quarterly dividend of $1.73 per share, equivalent to a 2.7% annual yield.

Cibc World Market Inc. bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 606,183 shares of the company's stock, valued at approximately $152,540,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ranch Capital Advisors Inc. boosted its holdings in AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock worth $3,238,000 after buying an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK raised its position in shares of 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 acquiring an additional 45,132 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new position in AbbVie during the 2nd quarter worth approximately $23,557,000. Wedge Capital Management L L P NC boosted 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 worth $33,865,000 after acquiring an additional 9,380 shares during the last quarter. Finally, Mission Wealth Management LP grew its holdings in AbbVie by 119.1% during the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company's stock valued at $17,376,000 after purchasing an additional 37,531 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several analyst reports. Canaccord Genuity Group increased their target price on shares of AbbVie from $282.00 to $290.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Evercore set a $235.00 target price on AbbVie in a report on Friday, May 15th. Cantor Fitzgerald boosted their target price on AbbVie from $265.00 to $285.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an "overweight" rating and set a $296.00 price target on shares of AbbVie in a research report on Monday, August 3rd. Finally, BNP Paribas Exane boosted their price objective on AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $275.95.

AbbVie Stock Down 0.4%

NYSE ABBV opened at $260.69 on Friday. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47. The company has a market capitalization of $460.58 billion, a PE ratio of 73.64, a price-to-earnings-growth ratio of 1.18 and a beta of 0.29. The firm's 50 day moving average is $254.57 and its 200-day moving average is $229.87.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. The business had revenue of $16.99 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, sell-side analysts expect 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. Stockholders of record on Wednesday, July 15th were paid a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, July 15th. AbbVie's dividend payout ratio is currently 195.48%.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the sale, the executive vice president owned 74,430 shares of the company's stock, valued at approximately $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

AbbVie News Roundup

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

AbbVie Company 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.

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