2,190 AbbVie Inc. $ABBV Shares Sold by Convergence Financial LLC

Convergence Financial LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 38.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,480 shares of the company’s stock after selling 2,190 shares during the quarter. Convergence Financial LLC’s holdings in AbbVie were worth $910,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ABBV. Ranch Capital Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 4,017 shares during the period. Capital Advisors Inc. OK grew its holdings in AbbVie by 11.2% in the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock valued at $112,516,000 after purchasing an additional 45,132 shares during the period. Danica Pension Livsforsikringsaktieselskab purchased a new stake in AbbVie in the second quarter valued at approximately $23,557,000. Wedge Capital Management L L P NC increased its position in AbbVie by 7.5% during 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 purchasing an additional 9,380 shares during the last quarter. Finally, State Street Corp increased its position in AbbVie by 1.7% during the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after purchasing an additional 1,379,232 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Down 0.1%

NYSE:ABBV opened at $286.10 on Thursday. The firm’s fifty day simple moving average is $268.20 and its 200 day simple moving average is $236.51. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $291.40. The firm has a market capitalization of $505.47 billion, a price-to-earnings ratio of 80.82, a PEG ratio of 1.30 and a beta of 0.24.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the prior year, the firm earned $2.97 EPS. The firm’s quarterly 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. On average, analysts predict that AbbVie Inc. will post 13.92 earnings per share for the current year.

AbbVie Announces Dividend

The business 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 $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%. AbbVie’s dividend payout ratio is presently 195.48%.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. The trade was a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie submitted a Biologics License Application to the FDA for etentamig, a monthly-dosed BCMA x CD3 bispecific antibody for adults with relapsed or refractory multiple myeloma. The Phase 3 CERVINO study reportedly delivered statistically significant improvements in overall response rate and progression-free survival versus standard therapies, adding a potential growth product to AbbVie’s oncology pipeline. AbbVie Submits BLA for Etentamig
• Positive Sentiment: AbbVie’s growth drivers remain in focus. Skyrizi and Rinvoq are expected to help offset Humira’s decline, while the FDA’s approval of a subcutaneous induction option for Skyrizi in Crohn’s disease could improve convenience and broaden adoption through at-home treatment. Skyrizi Crohn’s Disease Approval
• Neutral Sentiment: Investors are preparing for AbbVie’s third-quarter results, with attention on Skyrizi and Rinvoq sales, expense trends, updated guidance, and the sustainability of earnings growth. The company previously reported quarterly revenue and adjusted earnings above consensus expectations.
• Negative Sentiment: Analysts continue to debate whether ABBV is fully valued after a strong rally. Its elevated valuation leaves less room for disappointment, while rising expenses, softer estimates, and intensifying competition could pressure near-term results. AbbVie Patent Cliff Analysis
• Negative Sentiment: The company’s dividend appeal faces a longer-term test as investors seek evidence that Skyrizi and Rinvoq can replace lost Humira revenue and support continued payout growth. High Treasury yields also make income-oriented stocks compete harder for investor capital.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABBV. Bank of America restated a “buy” rating on shares of AbbVie in a report on Tuesday, September 8th. JPMorgan Chase & Co. lifted their target price on AbbVie from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 8th. Guggenheim reissued a “buy” rating and set a $288.00 price target on shares of AbbVie in a research report on Friday, October 9th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 5th. Finally, Erste Group Bank upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.86.

AbbVie Company 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.