27,540 Shares in AbbVie Inc. $ABBV Purchased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 27,540 shares of the company’s stock, valued at approximately $6,930,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after purchasing an additional 3,032,438 shares during the last quarter. State Street Corp grew its holdings in AbbVie by 1.4% in the 4th quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after buying an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC grew its holdings in AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after buying an additional 4,190,487 shares in the last quarter. Bank of America Corp DE increased its position in AbbVie by 1.4% during the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after buying an additional 356,394 shares during the period. Finally, Norges Bank acquired a new stake in shares of AbbVie during the fourth quarter worth $5,865,055,000. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 0.5%

Shares of AbbVie stock opened at $243.83 on Wednesday. The company has a market cap of $430.80 billion, a PE ratio of 68.88, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The company has a 50 day moving average of $240.29 and a 200-day moving average of $224.41. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $267.47.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share (EPS) 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 466.39%. The business had revenue of $16.99 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same period last year, the firm posted $2.97 earnings per share. 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. Research analysts forecast that AbbVie Inc. will post 14.08 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio is currently 195.48%.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: BOTOX Cosmetic expansion: The FDA accepted AbbVie’s supplemental application for BOTOX Cosmetic to treat masseter muscle prominence, commonly associated with a more prominent jawline. If approved, it would be the first U.S.-approved neurotoxin for this condition and would add a potential fifth aesthetic indication. The filing is supported by positive Phase 3 results. FDA acceptance of BOTOX Cosmetic application
• Positive Sentiment: Strong second-quarter performance: AbbVie reported revenue of $16.99 billion, up 10.2% year over year and above expectations, while adjusted earnings of $3.65 per share also exceeded consensus. Growth from immunology products Skyrizi and Rinvoq, along with neuroscience, is helping offset pressure from older products. AbbVie second-quarter results
• Positive Sentiment: UBRELVY reimbursement recommendation: Canada’s drug agency recommended conditional public reimbursement for UBRELVY in adults treating acute migraine. The recommendation could improve access and support international sales growth for AbbVie’s migraine franchise. UBRELVY Canadian reimbursement recommendation
• Positive Sentiment: Analyst optimism: Cantor Fitzgerald raised its AbbVie price target to $285 from $265 and maintained an Overweight rating, reflecting confidence in the company’s growth catalysts and pipeline.
• Neutral Sentiment: Pipeline and sector activity: AbbVie’s late-stage ABBV-706 lung-cancer program and telisotuzumab adizutecan remain potential longer-term catalysts, although neither update represents an immediate commercial milestone. Broader biopharmaceutical merger activity may also improve the sector’s sentiment. ABBV-706 lung cancer trial
• Negative Sentiment: Apogee acquisition impact: Although AbbVie raised its 2026 revenue outlook on Skyrizi, Rinvoq and neuroscience growth, the Apogee deal is expected to dilute earnings and increase research-and-development spending. This creates a near-term headwind despite stronger operating momentum.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Cantor Fitzgerald increased their target price on shares of AbbVie from $265.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday. UBS Group raised their target price on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. HSBC reiterated a “buy” rating and issued a $300.00 price target on shares of AbbVie in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their price target on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.76.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.