Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 56.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,444 shares of the company’s stock after selling 318,117 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in AbbVie were worth $63,944,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MSH Capital Advisors LLC boosted its stake in shares of AbbVie by 0.6% in the third quarter. MSH Capital Advisors LLC now owns 17,914 shares of the company’s stock valued at $4,686,000 after buying an additional 100 shares during the period. Cornerstone Advisory LLC grew its position in AbbVie by 1.0% during the third quarter. Cornerstone Advisory LLC now owns 16,358 shares of the company’s stock worth $4,279,000 after buying an additional 156 shares in the last quarter. Ibex Wealth Advisors grew its position in AbbVie by 0.5% during the third quarter. Ibex Wealth Advisors now owns 63,744 shares of the company’s stock worth $16,675,000 after buying an additional 320 shares in the last quarter. Condor Capital Management increased its stake in AbbVie by 6.1% during the 3rd quarter. Condor Capital Management now owns 6,145 shares of the company’s stock worth $1,608,000 after acquiring an additional 351 shares during the period. Finally, Wellington Grp LLC increased its stake in AbbVie by 3.4% during the 3rd quarter. Wellington Grp LLC now owns 1,558 shares of the company’s stock worth $408,000 after acquiring an additional 51 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at AbbVie
In other news, EVP Jeffrey Stewart sold 40,619 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $293.60, for a total transaction of $11,925,738.40. Following the completion of the transaction, the executive vice president owned 83,171 shares of the company’s stock, valued at approximately $24,419,005.60. The trade was a 32.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.
AbbVie Price Performance
NYSE:ABBV traded up $0.73 during mid-day trading on Friday, reaching $295.18. The stock had a trading volume of 3,259,920 shares, compared to its average volume of 5,279,493. The stock has a 50-day simple moving average of $275.51 and a two-hundred day simple moving average of $240.91. The stock has a market capitalization of $521.76 billion, a PE ratio of 50.81, a P/E/G ratio of 1.34 and a beta of 0.20. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $302.93.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The company reported $3.82 EPS for the quarter, beating the consensus estimate of $3.73 by $0.09. AbbVie had a net margin of 15.67% and a negative return on equity of 450.55%. The business had revenue of $17.40 billion during the quarter, compared to the consensus estimate of $17.32 billion. During the same period in the previous year, the business earned $1.86 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post 13.98 EPS for the current year.
AbbVie Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Stockholders of record on Friday, January 15th will be paid a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio is 125.30%.
AbbVie News Roundup
These are some of the ABBV news items that stood out recently:
- Positive Sentiment: AbbVie reported positive Phase 3 results for QULIPTA in a migraine trial, a potential boost to its neuroscience portfolio and the drug’s growth prospects. AbbVie Reports Positive Phase 3 QULIPTA Migraine Trial Results
- Positive Sentiment: AbbVie’s immunology sales grew 16.6% in the third quarter, led by Skyrizi and Rinvoq. Their momentum is helping lift sales expectations for 2026, although Humira continues to decline. How Did AbbVie’s Immunology Franchise Fare in Q3?
- Negative Sentiment: EVP Jeffrey Stewart sold 40,619 shares for about $11.9 million, reducing his direct holdings by 32.81%. The sale could weigh on sentiment, though the filing did not state a reason. AbbVie EVP Sells $11,925,738.40 in Stock
Analysts Set New Price Targets
Several equities analysts have weighed in on ABBV shares. Guggenheim lifted their price objective on AbbVie from $288.00 to $322.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Rothschild & Co Redburn increased their target price on AbbVie from $284.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. The Goldman Sachs Group raised their price target on AbbVie from $258.00 to $294.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Argus boosted their price target on AbbVie from $250.00 to $270.00 in a research note on Tuesday, August 4th. Finally, Wolfe Research raised shares of AbbVie from a “peer perform” rating to an “outperform” rating and upped their price objective for the stock from $235.00 to $300.00 in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $297.46.
Get Our Latest Stock Analysis on AbbVie
About AbbVie
AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas. Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.
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