The Manufacturers Life Insurance Company Acquires New Position in AbbVie Inc. $ABBV

Key Points

• The Manufacturers Life Insurance Company acquired 2.6 million AbbVie shares worth approximately $655.3 million, joining other institutions that have increased their positions. Institutional investors now own about 70.2% of the company.
• Analysts remain broadly optimistic, with AbbVie receiving a consensus “Moderate Buy” rating and an average price target of $275.95. Recent target increases included $300 from Barclays, Wolfe Research and BMO Capital Markets.
• AbbVie reported second-quarter revenue growth of 10.2% and EPS of $3.65, while Skyrizi and Rinvoq sales continued to grow. However, Humira’s ongoing biosimilar-driven decline and the initially dilutive Apogee acquisition remain key risks.

The Manufacturers Life Insurance Company purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,603,988 shares of the company's stock, valued at approximately $655,268,000. The Manufacturers Life Insurance Company owned approximately 0.15% of AbbVie as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in AbbVie in the 4th quarter worth about $5,865,055,000. Wellington Management Group LLP lifted its holdings in AbbVie by 457.4% in the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock valued at $2,439,714,000 after acquiring an additional 8,646,424 shares during the period. Capital World Investors lifted its holdings in AbbVie by 106.3% in the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company's stock valued at $2,986,777,000 after acquiring an additional 6,736,161 shares during the period. Cardano Risk Management B.V. boosted its position in AbbVie by 914.6% in the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company's stock worth $1,244,112,000 after purchasing an additional 4,908,260 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays upped their price target on shares of AbbVie from $275.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Wolfe Research upgraded shares of AbbVie from a "peer perform" rating to an "outperform" rating and set a $300.00 target price for the company in a research report on Thursday, August 13th. BMO Capital Markets increased their price target on shares of AbbVie from $258.00 to $300.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Morgan Stanley reiterated an "overweight" rating and set a $296.00 price target on shares of AbbVie in a research note on Monday, August 3rd. Finally, BNP Paribas Exane boosted 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. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $275.95.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Etentamig delivers a major Phase 3 win: AbbVie said its investigational BCMA x CD3 therapy met both primary endpoints in the CERVINO trial for relapsed/refractory multiple myeloma. Etentamig produced a 74% objective response rate versus 45.7% for standard therapies and reduced the risk of disease progression or death by 60%. The results could support a regulatory submission and give AbbVie an opportunity to compete in the growing BCMA-targeted treatment market. AbbVie Announces Positive Topline Results from the Phase 3 CERVINO Trial
• Positive Sentiment: Apogee acquisition expands immunology pipeline: AbbVie completed its approximately $10.9 billion purchase of Apogee Therapeutics. The deal adds late-stage zumilokibart for atopic dermatitis and additional respiratory and inflammatory disease programs, potentially strengthening growth beyond Humira. AbbVie Completes Acquisition of Apogee Therapeutics
• Positive Sentiment: Growth products continue to offset Humira erosion: Skyrizi and Rinvoq remain key drivers, with reported second-quarter sales growth of 24% and 25%, respectively. AbbVie’s established dividend record and broader pipeline also support the long-term investment case.
• Neutral Sentiment: Financial guidance was reaffirmed: AbbVie maintained its 2026 adjusted EPS outlook of $13.87–$14.07 and third-quarter guidance of $3.84–$3.88. However, the Apogee transaction is expected to dilute earnings initially before becoming accretive later in the decade. AbbVie Completes Acquisition of Apogee Therapeutics
• Negative Sentiment: Humira remains a significant headwind: The flagship drug’s revenue continues to fall following biosimilar competition, raising questions about how quickly newer products can replace the lost cash flow and support future dividend growth.

AbbVie Trading Down 1.5%

NYSE:ABBV opened at $256.27 on Friday. The stock has a 50-day moving average price of $254.66 and a 200 day moving average price of $230.06. The stock has a market capitalization of $452.78 billion, a P/E ratio of 72.39, a P/E/G ratio of 1.18 and a beta of 0.29. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The business had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same period last year, the firm posted $2.97 EPS. The company'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. On average, research analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's stock in a transaction dated 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 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 SEC, which is available at the SEC website. 0.06% of the stock is 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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