Jennison Associates LLC Reduces Holdings in AbbVie Inc. $ABBV

Jennison Associates LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.5% during the first quarter, HoldingsChannel reports. The fund owned 1,062,732 shares of the company’s stock after selling 124,242 shares during the quarter. Jennison Associates LLC’s holdings in AbbVie were worth $231,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares during the last quarter. State Street Corp raised its position in AbbVie by 1.4% in the 4th quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after purchasing an additional 1,119,274 shares during the period. Geode Capital Management LLC lifted its stake in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the last quarter. Bank of America Corp DE lifted its stake in AbbVie by 1.4% in the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after purchasing an additional 356,394 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $5,865,055,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABBV. HSBC reaffirmed a “buy” rating and set a $300.00 target price on shares of AbbVie in a research note on Monday, July 6th. Guggenheim boosted their price objective on AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, July 9th. DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Canaccord Genuity Group upped their price objective on AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Evercore set a $235.00 target price on AbbVie in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $267.67.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s Allergan Aesthetics unit won European Commission approval for Boey® (trenibotulinumtoxinE), a new facial injectable for glabellar lines. The approval gives AbbVie a differentiated aesthetics product in all 30 EEA countries and could add another growth driver to offset Humira-related declines. Article Title
• Positive Sentiment: Investors are also focusing on AbbVie’s neuroscience franchise and other newer product catalysts, with analysts expecting solid Q2 growth and continued momentum from brands such as Vyalev, RINVOQ, and SKYRIZI ahead of earnings. Article Title
• Positive Sentiment: Brokerage sentiment remains constructive, with recent coverage showing a “Moderate Buy” consensus and multiple price-target increases in July, reinforcing confidence in AbbVie’s long-term pipeline and earnings outlook. Article Title
• Neutral Sentiment: Erste Group slightly lowered its FY2026 EPS estimate for AbbVie to $14.08 from $14.23, though the new estimate remains close to the consensus of $14.18 and is not a major deviation. Article Title

AbbVie Price Performance

AbbVie stock opened at $254.53 on Friday. The stock has a market cap of $449.70 billion, a price-to-earnings ratio of 125.38, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30. The firm has a 50-day moving average of $229.80 and a two-hundred day moving average of $221.94. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period last year, the company posted $2.46 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 14.18 earnings per share for the current year.

AbbVie Dividend Announcement

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

AbbVie Profile

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.