AbbVie Inc. $ABBV Stock: Gimbal Financial Boosts Position

Gimbal Financial boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1,139.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,602 shares of the company’s stock after buying an additional 34,568 shares during the period. AbbVie makes up about 5.7% of Gimbal Financial’s portfolio, making the stock its 5th biggest holding. Gimbal Financial’s holdings in AbbVie were worth $9,836,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LP purchased a new stake in shares of AbbVie during the 2nd quarter worth approximately $559,736,000. Legal & General Group Plc bought a new position in shares of AbbVie during the 2nd quarter valued at approximately $2,905,952,000. Jupiter Topco LLC bought a new position in shares of AbbVie during the 2nd quarter valued at approximately $1,560,354,000. Diamant Asset Management Inc. grew its holdings in shares of AbbVie by 21,649.0% in the first quarter. Diamant Asset Management Inc. now owns 3,671,231 shares of the company’s stock valued at $798,456,000 after purchasing an additional 3,654,351 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of AbbVie in the second quarter valued at $817,473,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ABBV. Oppenheimer boosted their price target on shares of AbbVie from $244.00 to $258.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Bank of America reiterated a “buy” rating on shares of AbbVie in a research report on Tuesday, September 8th. Wells Fargo & Company increased their price objective on shares of AbbVie from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Argus lifted their price objective on shares of AbbVie from $250.00 to $270.00 in a research note on Tuesday, August 4th. Finally, Citigroup boosted their target price on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.18.

AbbVie Price Performance

Shares of NYSE:ABBV traded down $1.72 during trading on Monday, hitting $283.70. The company had a trading volume of 1,392,670 shares, compared to its average volume of 6,388,145. The stock has a market cap of $501.23 billion, a price-to-earnings ratio of 80.16, a price-to-earnings-growth ratio of 1.30 and a beta of 0.24. AbbVie Inc. has a one year low of $190.75 and a one year high of $291.40. The company has a fifty day simple moving average of $262.74 and a two-hundred day simple moving average of $239.41.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.04. The firm had revenue of $16.99 billion during the quarter, compared to analysts’ expectations of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 13.94 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a $1.73 dividend. The ex-dividend date is Thursday, October 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.4%. AbbVie’s dividend payout ratio (DPR) is currently 195.48%.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction on Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by insiders.

AbbVie 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.