Miller Howard Investments 13F: Cuts AbbVie (ABBV) Stake by $26M
Key Points
- Miller Howard Investments reduced its holdings in AbbVie by 101,089 shares, a 25.5% decrease, now holding 295,568 shares valued at about $77.3 million.
- AbbVie shares recently traded around $286.74, about equal to the closing price on October 26, and are above both the 50-day and 200-day moving averages.
- The fund's position in AbbVie represents 7.17% of its total reported 13F value, ranking it third among its holdings.
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Miller Howard Investments cut its stake in AbbVie Inc. (ABBV) by 101,089 shares in a filing on October 26, 2026.
ABBV
AbbVie Inc.
What Changed in Miller Howard Investments' AbbVie Position
Miller Howard Investments reduced its position in AbbVie by 101,089 shares, which is a 25.5% decrease from the previous count of 396,657 shares. This change represents a value of about $26.4 million. The fund's reported value for this position now stands at $77.3 million.
Where AbbVie Fits in Miller Howard Investments' Portfolio
AbbVie's position now accounts for 7.17% of Miller Howard's total reported 13F value, ranking it third among the fund's holdings.
Other Institutional Activity in AbbVie
On the same day, UniSuper Management increased its AbbVie holdings by 86,423 shares, bringing its total to 456,240 shares worth about $119.3 million. Ag2R la Mondiale Gestion D'Actifs also boosted its position, adding 11,674 shares for a total of 89,335 shares valued at approximately $23.4 million.
AbbVie Inc. Stock Up 0.4%
AbbVie shares recently traded around $286.74, which is about equal to the closing price on October 26, 2026. The stock is currently above its 50-day moving average of $266.87 and its 200-day moving average of $235.72, indicating strong performance over the past months.
Recent Earnings
AbbVie reported trailing twelve-month revenue of about $64.4 billion, with a year-over-year revenue growth of 10.2%. The next earnings report is scheduled for October 30, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
4 analysts raised price targets.
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EPS & revenue
EPS met estimates. Revenue met estimates.
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Profit surprise
EBITDA missed by 42 percent. Operating income missed by 72 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
4 target raises.
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Earnings quality
Gross margin up 1.9 points. Operating margin up 3.6 points. Positive free cash flow.
Earnings Call Summary
AbbVie delivered strong first quarter results with $15 billion in sales and earnings per share of $2.65, beating expectations. Skyrizi sales hit $4.5 billion with 29 percent growth in psoriasis and inflammatory bowel disease markets. Rinvoq brought in $2.1 billion with 20 percent growth across rheumatology and gastroenterology, and the company is preparing to launch the drug in alopecia areata and vitiligo later this year.
Guidance The company raised full year earnings per share guidance to between $14.08 and $14.28, up $0.12. They now expect about $67.3 billion in total sales for the year. They also raised guidance for second quarter to about $16.7 billion in revenue and earnings per share between $3.74 and $3.78.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Insider Buying and Selling at AbbVie Inc.
Several insiders sold shares earlier this year, including Perry C. Siatis, General Counsel, who sold 22,381 shares at an average price of $230 on February 25, 2026, totaling about $5.1 million. Siatis also sold 18,668 shares on March 2, 2026, valued at approximately $4.4 million. Nicholas Donoghoe, another officer, sold 32,710 shares at an average price of $250 on August 14, 2026, for about $8.2 million.
Analysts Set New Price Targets
On October 9, 2026, UBS maintained a Neutral rating on AbbVie, setting a target price of $275. Guggenheim reiterated a Buy rating with a target of $288. RBC Capital also reiterated its Outperform rating with a target of $280. The consensus among analysts is a Buy recommendation with a target mean price of $284.79, based on 28 opinions.
About AbbVie
AbbVie Inc. is a research-based biopharmaceutical company based in North Chicago, IL. It develops and sells a range of medicines, including treatments for autoimmune diseases and various cancers. The company is known for products like Skyrizi, Rinvoq, and Imbruvica.
Bottom Line
Investors should watch for AbbVie's upcoming earnings report on October 30, 2026, for insights into its performance. Keep an eye on further filings from Miller Howard Investments as they adjust their positions.
Related Filing Alerts
Source: Miller Howard Investments's 13F filing on $ABBV (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts