The Manufacturers Life Insurance Company Trims Stock Holdings in AbbVie Inc. $ABBV

The Manufacturers Life Insurance Company reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,603,988 shares of the company’s stock after selling 46,447 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AbbVie were worth $655,268,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ABBV. Capstone Financial Advisors Inc. grew its holdings in AbbVie by 1.4% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 3,914 shares of the company’s stock valued at $985,000 after buying an additional 55 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of AbbVie by 7.6% in the second quarter. Tortoise Investment Management LLC now owns 1,128 shares of the company’s stock worth $284,000 after buying an additional 80 shares in the last quarter. Community Bank of Raymore boosted its position in shares of AbbVie by 2.0% in the second quarter. Community Bank of Raymore now owns 12,673 shares of the company’s stock valued at $3,189,000 after acquiring an additional 250 shares during the period. Cahill Financial Advisors Inc. increased its holdings in AbbVie by 2.3% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 2,753 shares of the company’s stock worth $693,000 after acquiring an additional 62 shares during the period. Finally, Archford Capital Strategies LLC lifted its stake in AbbVie by 4.8% in the 2nd quarter. Archford Capital Strategies LLC now owns 6,013 shares of the company’s stock worth $1,513,000 after purchasing an additional 276 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 1.8%

Shares of NYSE:ABBV opened at $261.68 on Tuesday. The stock has a market cap of $462.33 billion, a PE ratio of 73.92, a PEG ratio of 1.16 and a beta of 0.29. The company’s fifty day moving average is $254.60 and its 200 day moving average is $231.19. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $267.47.

AbbVie (NYSE:ABBV) last posted 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 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 in the prior year, the business posted $2.97 earnings per share. 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. Sell-side analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $1.73 per share. The ex-dividend date is Thursday, October 15th. This represents a $6.92 annualized dividend and a yield of 2.6%. AbbVie’s dividend payout ratio is currently 195.48%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction that occurred 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 of the company’s stock, valued at $18,607,500. The trade was a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABBV. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research report on Tuesday, June 23rd. UBS Group lifted their price objective on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Barclays upped their target price on AbbVie from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Canaccord Genuity Group boosted their price objective on AbbVie from $282.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company raised their target price on shares of AbbVie from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently 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.