Cornerstone Advisors LLC Sells 2,200 Shares of AbbVie Inc. $ABBV

Cornerstone Advisors LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,200 shares of the company’s stock after selling 2,200 shares during the period. AbbVie comprises about 1.0% of Cornerstone Advisors LLC’s holdings, making the stock its 23rd largest holding. Cornerstone Advisors LLC’s holdings in AbbVie were worth $29,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Evolution Wealth Management Inc. purchased a new stake in AbbVie in the 2nd quarter worth approximately $26,000. Spurstone Advisory Services LLC purchased a new position in shares of AbbVie during the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC bought a new position in shares of AbbVie during the third quarter valued at approximately $41,000. Financial Gravity Companies Inc. purchased a new stake in AbbVie in the second quarter worth $36,000. Finally, Delos Wealth Advisors LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at about $39,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup cut their price target on AbbVie from $235.00 to $230.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 27th. Morgan Stanley boosted their price target on AbbVie from $269.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and lifted their price objective for the company from $225.00 to $265.00 in a research report on Wednesday, December 10th. DZ Bank downgraded AbbVie from a “buy” rating to a “hold” rating and set a $237.00 target price on the stock. in a research note on Tuesday, November 4th. Finally, Piper Sandler raised their price objective on AbbVie from $289.00 to $299.00 and gave the company an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $251.56.

AbbVie Trading Down 1.7%

NYSE ABBV opened at $228.79 on Thursday. AbbVie Inc. has a 12-month low of $164.39 and a 12-month high of $244.81. The firm has a market capitalization of $404.36 billion, a P/E ratio of 96.95, a P/E/G ratio of 0.81 and a beta of 0.35. The firm’s fifty day simple moving average is $224.01 and its two-hundred day simple moving average is $221.68.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.65 by $0.06. AbbVie had a net margin of 6.91% and a negative return on equity of 4,184.47%. The business had revenue of $16.62 billion during the quarter, compared to analysts’ expectations of $16.39 billion. During the same period in the previous year, the business posted $2.16 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Company 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.