The Manufacturers Life Insurance Company Has $655.27 Million Stake in AbbVie Inc. $ABBV

Key Points

• The Manufacturers Life Insurance Company reduced its AbbVie stake by 1.8% in the second quarter, selling 46,447 shares while retaining 2.6 million shares valued at approximately $655.3 million. Institutional investors and hedge funds own 70.23% of ABBV.
• 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 issued third-quarter EPS guidance of $3.84–$3.88.
• AbbVie declared a quarterly dividend of $1.73 per share, equivalent to an annualized $6.92 and a 2.6% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $276.64.

The Manufacturers Life Insurance Company reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,603,988 shares of the company's stock after selling 46,447 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.15% of AbbVie worth $655,268,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ABBV. Capital Advisors Inc. OK boosted its position in shares of AbbVie by 11.2% during the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company's stock worth $112,516,000 after purchasing an additional 45,132 shares in the last quarter. Ranch Capital Advisors Inc. raised its stake in AbbVie by 37.0% during the 1st 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 period. Danica Pension Livsforsikringsaktieselskab acquired a new position in AbbVie during the 2nd quarter worth approximately $23,557,000. Wedge Capital Management L L P NC boosted its holdings in AbbVie by 7.5% in the second 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 in the last quarter. Finally, Mission Wealth Management LP grew its stake in AbbVie by 119.1% in the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company's stock valued at $17,376,000 after acquiring an additional 37,531 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's stock in a transaction that occurred on 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

AbbVie Trading Up 1.8%

Shares of ABBV opened at $261.68 on Tuesday. The stock has a 50 day moving average of $254.60 and a 200 day moving average of $231.19. The company has a market capitalization of $462.33 billion, a price-to-earnings ratio of 73.92, a PEG ratio of 1.16 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 negative return on equity of 422.07% and a net margin of 9.80%.The firm had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter in the prior year, the company earned $2.97 EPS. 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. As a group, equities research analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $1.73 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $6.92 annualized dividend and a yield of 2.6%. AbbVie's payout ratio is currently 195.48%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ABBV. Morgan Stanley reaffirmed an "overweight" rating and set a $296.00 target price on shares of AbbVie in a research report on Monday, August 3rd. Bank of America reaffirmed a "buy" rating on shares of AbbVie in a research note on Tuesday, September 8th. Erste Group Bank raised shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Wednesday, August 5th. Canaccord Genuity Group raised their price target on shares of AbbVie from $282.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Guggenheim lifted their price target on AbbVie from $261.00 to $288.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.64.

AbbVie Company Profile

AbbVie Inc NYSE: ABBV is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott's diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie's immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.

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