AbbVie Inc. $ABBV Stock Holdings Lowered by Penobscot Investment Management Company Inc.

Posted by George Bondi on Oct 28th, 2026

Penobscot Investment Management Company Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 5.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,083 shares of the company’s stock after selling 4,369 shares during the period. AbbVie makes up about 1.3% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 16th largest holding. Penobscot Investment Management Company Inc.’s holdings in AbbVie were worth $19,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Ranch Capital Advisors Inc. raised its holdings in shares of AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock valued at $3,238,000 after acquiring an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK boosted its stake in shares of AbbVie by 11.2% in the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock worth $112,516,000 after acquiring an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of AbbVie in the second quarter worth approximately $23,557,000. Wedge Capital Management L L P NC increased its position in shares of AbbVie by 7.5% during the second quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock worth $33,865,000 after purchasing an additional 9,380 shares in the last quarter. Finally, State Street Corp increased its position in shares of AbbVie by 1.7% during 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 in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Canaccord Genuity Group increased their price objective on AbbVie from $282.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Morgan Stanley lifted their target price on shares of AbbVie from $296.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Oppenheimer lifted their target price on shares of AbbVie from $244.00 to $258.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Finally, Erste Group Bank raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $279.86.

Read Our Latest Stock Analysis on AbbVie

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

Positive Sentiment: AbbVie submitted a biologics license application to the FDA for etentamig, a next-generation BCMA×CD3 bispecific antibody for adults with relapsed or refractory multiple myeloma. In the Phase 3 CERVINO study, the treatment significantly improved overall response rate and progression-free survival versus available standard therapies, supporting potential pipeline diversification beyond immunology. AbbVie Submits BLA for Etentamig
Positive Sentiment: The FDA approved a subcutaneous induction regimen for SKYRIZI in Crohn’s disease, including an on-body injector that enables an at-home treatment start. The approval could improve patient convenience and help support continued growth of AbbVie’s key immunology franchise. FDA Approves SKYRIZI Crohn’s Disease Regimen
Positive Sentiment: Goldman Sachs raised its AbbVie price target to $294, while reports that Citadel has built an approximately $900 million position may reinforce institutional confidence. Analysts also identify SKYRIZI and RINVOQ as important growth drivers.
Neutral Sentiment: Options markets imply an approximately 5% potential move around the October 30 earnings release. AbbVie previously exceeded quarterly EPS and revenue expectations, but investors will focus on SKYRIZI and RINVOQ sales, expenses and updated guidance.
Negative Sentiment: Some analysts view ABBV as fully valued after its strong run, with rising expenses, declining estimates and intensifying competition creating near-term risks. Erste Group Bank also reduced its EPS forecast, potentially limiting upside ahead of earnings.

AbbVie Trading Down 0.0%

ABBV stock opened at $286.70 on Wednesday. The firm has a 50-day moving average of $267.66 and a two-hundred day moving average of $236.20. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $291.40.

AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.04. The company had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Sell-side analysts forecast that AbbVie Inc. will post 13.92 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a dividend of $1.73 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.4%.

AbbVie Profile

(Free Report)

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.