AbbVie Inc. $ABBV Stock Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,083 shares of the company’s stock after selling 4,369 shares during the period. AbbVie makes up approximately 1.3% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 16th largest position. Penobscot Investment Management Company Inc.’s holdings in AbbVie were worth $19,118,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cahaba Wealth Management Inc. grew its holdings in shares of AbbVie by 2.5% during the 3rd quarter. Cahaba Wealth Management Inc. now owns 3,746 shares of the company’s stock worth $980,000 after purchasing an additional 92 shares during the period. Oppenheimer & Co. Inc. raised its holdings in AbbVie by 8.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 176,114 shares of the company’s stock valued at $46,070,000 after buying an additional 14,115 shares during the period. Center for Financial Planning Inc. raised its holdings in AbbVie by 2.8% in the 3rd quarter. Center for Financial Planning Inc. now owns 17,893 shares of the company’s stock valued at $4,681,000 after buying an additional 493 shares during the period. Park Avenue Securities LLC raised its holdings in AbbVie by 3.0% in the 3rd quarter. Park Avenue Securities LLC now owns 101,828 shares of the company’s stock valued at $26,637,000 after buying an additional 2,925 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. lifted its position in AbbVie by 4.1% in the third quarter. Rainey & Randall Wealth Advisors Inc. now owns 1,287 shares of the company’s stock valued at $337,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America reaffirmed a “buy” rating on shares of AbbVie in a research report on Tuesday, September 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $280.00 price target on shares of AbbVie in a research report on Tuesday, October 13th. Rothschild & Co Redburn boosted their price target on shares of AbbVie from $284.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Argus boosted their price target on shares of AbbVie from $250.00 to $270.00 in a research note on Tuesday, August 4th. Finally, Cantor Fitzgerald upped their price objective on shares of AbbVie from $285.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $279.86.

Insider Activity 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 value of $8,177,500.00. Following the completion of the transaction, the executive vice president owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

AbbVie Trading Down 0.0%

ABBV stock opened at $286.70 on Wednesday. The business’s fifty day moving average price is $267.66 and its 200 day moving average price is $236.20. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $291.40.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.04. The firm had revenue of $16.99 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter last year, the business earned $2.97 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 13.92 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a $1.73 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.4%.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie submitted a biologics license application to the FDA for etentamig, a next-generation BCMA×CD3 bispecific antibody for adults with relapsed or refractory multiple myeloma. In the Phase 3 CERVINO study, the treatment significantly improved overall response rate and progression-free survival versus available standard therapies, supporting potential pipeline diversification beyond immunology. AbbVie Submits BLA for Etentamig
• Positive Sentiment: The FDA approved a subcutaneous induction regimen for SKYRIZI in Crohn’s disease, including an on-body injector that enables an at-home treatment start. The approval could improve patient convenience and help support continued growth of AbbVie’s key immunology franchise. FDA Approves SKYRIZI Crohn’s Disease Regimen
• Positive Sentiment: Goldman Sachs raised its AbbVie price target to $294, while reports that Citadel has built an approximately $900 million position may reinforce institutional confidence. Analysts also identify SKYRIZI and RINVOQ as important growth drivers.
• Neutral Sentiment: Options markets imply an approximately 5% potential move around the October 30 earnings release. AbbVie previously exceeded quarterly EPS and revenue expectations, but investors will focus on SKYRIZI and RINVOQ sales, expenses and updated guidance.
• Negative Sentiment: Some analysts view ABBV as fully valued after its strong run, with rising expenses, declining estimates and intensifying competition creating near-term risks. Erste Group Bank also reduced its EPS forecast, potentially limiting upside ahead of earnings.

AbbVie Profile

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.