Perigon Wealth Management 13F: Cuts AbbVie (ABBV) Stake by $4.7M
Key Points
- Perigon Wealth Management shed 17,805 shares of AbbVie Inc. ABBV during the quarter, leaving it with 93,671 shares valued at about $24.5 million.
- AbbVie Inc. ABBV recently traded around $284.80, sitting just below its 52-week high after a strong run over its moving averages.
- Wall Street analysts have set a mean price target of $284.78 for the biopharmaceutical firm ahead of its October 30, 2026 earnings report.
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Perigon Wealth Management lowered its stake in AbbVie Inc. ABBV by 15.9% during the quarter, shedding 17,805 shares to finish with 93,671 shares. According to a Form 13F filed with the SEC on October 22, 2026, the remaining holding carried a value of approximately $24.5 million at the close of the period. This filing follows several other portfolio adjustments disclosed by the firm on the same day.
ABBV
AbbVie Inc.
What Changed in Perigon Wealth Management's AbbVie Position
The reduction trimmed the firm's exposure to the drug maker after holding 111,476 shares in the previous period. The decrease of 15.9% represents a notable shift in the firm's healthcare sector allocations even as shares trade near the upper end of their yearly range.
Other Institutional Activity in AbbVie
Other institutional investors also adjusted their positions in AbbVie Inc. ABBV around the same time. Pictet North America Advisors opened a new position with 2,747 shares worth about $718,588. Sumitomo Mitsui DS Asset Management Company lowered its stake by 32,919 shares, ending with 291,632 shares valued at $76,288,015. AlphaStar Capital Management grew its holdings by 2,299 shares, ending with 19,380 shares worth about $5,069,641. Root Financial Partners lifted its stake by 5,115 shares to finish with 12,318 shares valued at $3,222,336. Meanwhile, Vest Financial reduced its holdings by 43,631 shares, leaving it with 224,688 shares worth about $58,776,135.
AbbVie Inc. Stock Holds Steady
AbbVie Inc. ABBV closed at $285.19 on October 22, 2026, and recently traded around $284.80 as of October 23, 2026. The stock is up about 7.3% above its 50-day moving average of $265.43 and trades roughly 2.3% below its 52-week high of $291.40.
Recent Earnings
AbbVie reported trailing twelve-month revenue of $64.39 billion and basic earnings of $3.54 per share. Its next quarterly 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.
Dividend
AbbVie pays an annual dividend rate of $6.92 per share, which translates to a dividend yield of 2.43% based on recent trading levels.
Insider Buying and Selling at AbbVie Inc.
Company insiders executed several transactions earlier in the year, including sales by General Counsel Perry C. Siatis and other corporate officers.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock ahead of the filing, with analysts maintaining a consensus buy rating and a mean price target of $284.79 across 28 opinions.
About AbbVie
AbbVie Inc. is a research-based biopharmaceutical company headquartered in North Chicago, Illinois. It discovers, develops, and commercializes advanced therapies and medicines for autoimmune diseases, blood cancers, inflammatory conditions, and solid tumors worldwide.
Bottom Line
Investors will watch AbbVie's upcoming earnings report on October 30, 2026, for further insight into revenue trends and product sales. Future SEC filings will show whether institutional managers continue to trim their stakes after the stock's recent gains.
Related Filing Alerts
Source: Perigon Wealth Management's 13F filing on $ABBV (Oct 22, 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