Hourglass Capital LLC Sells 10,800 Shares of AbbVie Inc. $ABBV

Key Points

• Hourglass Capital LLC reduced its AbbVie position by 32.7%, selling 10,800 shares and retaining 22,210 shares valued at approximately $5.81 million. Institutional investors and hedge funds collectively own 70.23% of AbbVie.
• AbbVie reported quarterly EPS of $3.65, exceeding estimates of $3.61, while revenue rose 10.2% year over year to $16.99 billion. The company also declared a quarterly dividend of $1.73 per share, equivalent to a 2.4% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $279.86, while AbbVie shares opened at $286.88. Positive developments include FDA approval of a subcutaneous SKYRIZI regimen, though elevated valuation and some weaker earnings forecasts remain risks.

Hourglass Capital LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 32.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,210 shares of the company's stock after selling 10,800 shares during the quarter. Hourglass Capital LLC's holdings in AbbVie were worth $5,810,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Corient Private Wealth LP bought a new stake in shares of AbbVie during the 2nd quarter valued at about $559,736,000. Legal & General Group Plc acquired a new stake in AbbVie during the second quarter worth approximately $2,905,952,000. Jupiter Topco LLC acquired a new stake in AbbVie during the second quarter worth approximately $1,560,354,000. Diamant Asset Management Inc. increased its holdings in AbbVie by 21,649.0% in the first quarter. Diamant Asset Management Inc. now owns 3,671,231 shares of the company's stock worth $798,456,000 after purchasing an additional 3,654,351 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in AbbVie in the second quarter worth approximately $817,473,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV stock opened at $286.88 on Tuesday. The stock's 50 day simple moving average is $266.18 and its 200 day simple moving average is $235.62. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $291.40. The company has a market cap of $506.85 billion, a P/E ratio of 81.04, a price-to-earnings-growth ratio of 1.30 and a beta of 0.24.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $16.80 billion. During the same quarter in the prior year, the company earned $2.97 earnings per share. The company'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. Equities analysts predict that AbbVie Inc. will post 13.93 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be given 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%.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The U.S. Food and Drug Administration approved a subcutaneous induction regimen for AbbVie’s SKYRIZI in adults with moderately to severely active Crohn’s disease. The needle-based treatment option may improve convenience and support the drug’s continued growth across immunology indications. FDA approves subcutaneous SKYRIZI regimen
• Positive Sentiment: Goldman Sachs raised its price target for ABBV to $294, signaling continued confidence in the company’s outlook and providing a bullish valuation reference. Goldman Sachs raises AbbVie price target
• Positive Sentiment: Reports that Citadel has built an approximately $900 million position in AbbVie may boost sentiment by highlighting institutional interest in the company’s dividend and growth profile. Citadel AbbVie position
• Neutral Sentiment: Options markets imply roughly a 5% move around the October 30 earnings release, indicating that investors expect significant volatility as they assess results and forward guidance. AbbVie options and earnings volatility
• Neutral Sentiment: Coverage continues to describe AbbVie as an attractive, income-focused “Dividend King,” although its high earnings multiple makes future performance dependent on sustained earnings growth. AbbVie Dividend King coverage
• Negative Sentiment: Erste Group Bank reduced its EPS forecast and expressed a weak outlook for AbbVie’s fiscal 2026 earnings, creating a counterweight to the favorable product and institutional news. Erste Group lowers AbbVie EPS forecast

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 value of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on ABBV shares. Erste Group Bank raised AbbVie from a "hold" rating to a "buy" rating in a research note on Wednesday, August 5th. Scotiabank raised their price objective on shares of AbbVie from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 6th. Weiss Ratings upgraded shares of AbbVie from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Wolfe Research upgraded shares of AbbVie from a "peer perform" rating to an "outperform" rating and lifted their price objective for the company from $235.00 to $300.00 in a research note on Thursday, August 13th. Finally, Cantor Fitzgerald boosted their target price on shares of AbbVie from $285.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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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