Sumitomo Mitsui Trust Group Inc. Trims Stock Position in AbbVie Inc. $ABBV

Sumitomo Mitsui Trust Group Inc. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 4.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,914,633 shares of the company’s stock after selling 188,212 shares during the period. AbbVie comprises 0.6% of Sumitomo Mitsui Trust Group Inc.’s investment portfolio, making the stock its 27th biggest position. Sumitomo Mitsui Trust Group Inc.’s holdings in AbbVie were worth $851,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Norges Bank purchased a new stake in AbbVie in the 4th quarter worth approximately $5,865,055,000. Wellington Management Group LLP increased its holdings in shares of AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after purchasing an additional 8,646,424 shares in the last quarter. Capital World Investors increased its holdings in shares of AbbVie by 106.3% during the 4th quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after purchasing an additional 6,736,161 shares in the last quarter. Cardano Risk Management B.V. lifted its stake in shares of AbbVie by 914.6% in the 4th quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock valued at $1,244,112,000 after purchasing an additional 4,908,260 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after buying an additional 4,190,487 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

AbbVie stock opened at $252.98 on Thursday. The stock has a market capitalization of $446.96 billion, a P/E ratio of 124.62, a P/E/G ratio of 0.84 and a beta of 0.30. The company’s fifty day moving average price is $223.50 and its 200 day moving average price is $220.90. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 14.19 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio is 340.89%.

Analyst Ratings Changes

Several research firms recently commented on ABBV. Canaccord Genuity Group raised their price target on shares of AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a research report on Thursday, April 30th. Evercore set a $235.00 target price on shares of AbbVie in a research note on Friday, May 15th. Cantor Fitzgerald raised their target price on AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday. Finally, HSBC restated a “buy” rating and issued a $300.00 price target on shares of AbbVie in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $256.67.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The European Commission approved AbbVie’s Tepkinly in combination with lenalidomide and rituximab for relapsed or refractory follicular lymphoma, expanding the drug’s commercial opportunity in Europe and reinforcing AbbVie’s oncology growth pipeline. EC approves AbbVie’s Tepkinly combination for follicular lymphoma
• Positive Sentiment: AbbVie completed a first-in-human study for ABBV-277, a clinical-stage program that could provide additional safety and efficacy data for investors watching the company’s next wave of pipeline assets. AbbVie’s ABBV?277 Trial Completion: What Early Safety Data Could Mean for Investors
• Neutral Sentiment: AbbVie’s upcoming second-quarter earnings report is expected to show double-digit EPS growth, but investors are focused on whether results can offset recent concerns around forward guidance and margin trends. AbbVie Earnings Preview: What to Expect
• Negative Sentiment: AbbVie lowered its FY 2026 EPS guidance to $13.91-$14.11, below the consensus estimate of $14.25, and also guided Q2 EPS to $3.57-$3.61 versus expectations of $3.77, which is likely weighing on the shares today.

About AbbVie

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.