2,008 AbbVie Inc. $ABBV Shares Sold by Canandaigua National Bank & Trust Co.

Posted by Francis Steltz on Oct 7th, 2026

Canandaigua National Bank & Trust Co. reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,532 shares of the company’s stock after selling 2,008 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in AbbVie were worth $6,679,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burk Holdings LLC purchased a new position in shares of AbbVie during the second quarter valued at approximately $30,000. Marquette Asset Management LLC grew its stake in shares of AbbVie by 52.2% in the 2nd quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock worth $35,000 after buying an additional 48 shares during the last quarter. Abound Financial LLC purchased a new stake in shares of AbbVie in the 4th quarter worth approximately $32,000. Principia Wealth Advisory LLC increased its position in AbbVie by 38.9% during the 2nd quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC bought a new position in AbbVie during the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ABBV shares. Erste Group Bank upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. BNP Paribas Exane raised their price target on AbbVie from $218.00 to $247.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Bank of America reaffirmed a “buy” rating on shares of AbbVie in a research report on Tuesday, September 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $240.00 price target (down from $250.00) on shares of AbbVie in a research note on Wednesday, September 16th. Finally, Guggenheim increased their price objective on shares of AbbVie from $261.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $274.32.

Read Our Latest Stock Report on AbbVie

Trending Headlines about AbbVie

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

Insider Transactions at AbbVie

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

AbbVie Trading Up 1.8%

ABBV traded up $4.67 during trading on Wednesday, hitting $271.37. 6,075,433 shares of the company’s stock traded hands, compared to its average volume of 6,434,720. The stock has a market capitalization of $479.44 billion, a price-to-earnings ratio of 76.66, a PEG ratio of 1.20 and a beta of 0.24. The company’s 50 day simple moving average is $258.12 and its two-hundred day simple moving average is $235.42. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $274.94.

AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly 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 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 revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, equities analysts expect that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $1.73 dividend. 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 2.6%. AbbVie’s payout ratio is 195.48%.

About AbbVie

(Free Report)

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.