AbbVie Inc. $ABBV Stock Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,532 shares of the company’s stock after selling 2,008 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in AbbVie were worth $6,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of AbbVie by 1.7% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AbbVie by 0.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock valued at $3,590,323,000 after buying an additional 106,091 shares during the last quarter. Legal & General Group Plc purchased a new stake in AbbVie during the 2nd quarter valued at $2,905,952,000. Deutsche Bank AG boosted its position in AbbVie by 13.0% during the 2nd quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock valued at $2,710,905,000 after buying an additional 1,241,587 shares during the period. Finally, Amundi grew its holdings in AbbVie by 2.4% in the 1st quarter. Amundi now owns 10,698,095 shares of the company’s stock worth $2,326,728,000 after acquiring an additional 247,689 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The FDA granted two Breakthrough Therapy Designations for AbbVie’s investigational telisotuzumab adizutecan (Temab-A/ABBV-400) in colorectal cancer and non-small cell lung cancer. The designations could accelerate development and regulatory review for the antibody-drug conjugate, strengthening AbbVie’s growing oncology pipeline. Update: AbbVie Shares Rise After FDA Gives 2 Breakthrough Designations for Cancer Drug
• Positive Sentiment: AbbVie and Genmab reported that the Epkinly (epcoritamab) plus R-CHOP combination reduced the risk of disease progression or death by 51% versus R-CHOP alone in newly diagnosed diffuse large B-cell lymphoma. The Phase 3 success supports potential expansion into frontline treatment and could improve the long-term commercial outlook for the partnership. AbbVie Cut Frontline DLBCL Progression Or Death Risk By 51%
• Positive Sentiment: Scotiabank raised its AbbVie price target from $280 to $320 and maintained a “sector outperform” rating, adding to bullish analyst sentiment around the company’s pipeline and earnings potential. AbbVie Stock Price Target Raised at Scotiabank
• Neutral Sentiment: AbbVie is scheduled to report third-quarter results later this month. Investors may remain focused on whether upcoming results and management commentary support the current premium valuation and forward growth expectations. Should You Buy AbbVie Stock Before Oct. 30?
• Negative Sentiment: AbbVie updated third-quarter 2026 EPS guidance to $3.73-$3.77, below the roughly $3.85 consensus estimate. The lower outlook may limit near-term upside and suggests investors will scrutinize operating performance despite the positive drug-development news. AbbVie Issues Q3 2026 Earnings Guidance
• Negative Sentiment: One report highlighted AbbVie’s payout ratio of about 190%, raising concerns that the dividend currently exceeds reported earnings and could face pressure if cash flow weakens. This is a longer-term risk rather than a direct change to the dividend policy. AbbVie Pays Out More Than It Earns

AbbVie Trading Up 1.8%

NYSE ABBV traded up $4.67 during trading on Wednesday, hitting $271.37. The company had a trading volume of 6,075,433 shares, compared to its average volume of 6,434,720. The company’s fifty day moving average is $258.12 and its 200-day moving average is $235.42. AbbVie Inc. has a one year low of $190.75 and a one year high of $274.94. The company has a market cap of $479.44 billion, a price-to-earnings ratio of 76.66, a price-to-earnings-growth ratio of 1.20 and a beta of 0.24.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the previous year, the firm posted $2.97 EPS. The company’s revenue for the quarter 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 14.05 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.6%. AbbVie’s dividend payout ratio is 195.48%.

Analysts Set New Price Targets

A number of research firms have issued reports on ABBV. Erste Group Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. HSBC increased their target price on shares of AbbVie from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Guggenheim raised their target price on AbbVie from $261.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price target on AbbVie from $280.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, Citigroup increased their price objective on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $274.32.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the 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 completion of the transaction, the executive vice president owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

About AbbVie

AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women’s health.

The company’s products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.

AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.