AbbVie Inc. $ABBV Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC trimmed its AbbVie stake by 26.8% in the fourth quarter, selling 25,194 shares and leaving it with 68,663 shares valued at about $15.7 million.
• AbbVie insiders also sold stock recently, including EVP Perry C. Siatis and SVP David Ryan Purdue, though institutional ownership remains high at 70.23%.
• The company reported solid quarterly results and continues to reward shareholders, beating earnings and revenue estimates, lifting sales 12.4% year over year, and declaring a quarterly dividend of $1.73 per share.

SVB Wealth LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,663 shares of the company's stock after selling 25,194 shares during the quarter. AbbVie makes up approximately 0.9% of SVB Wealth LLC's portfolio, making the stock its 23rd biggest position. SVB Wealth LLC's holdings in AbbVie were worth $15,689,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Brighton Jones LLC lifted its stake in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock worth $3,056,000 after purchasing an additional 789 shares during the last quarter. Ieq Capital LLC lifted its stake in AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock worth $22,281,000 after purchasing an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock worth $210,685,000 after purchasing an additional 612,702 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 22,381 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value of $5,147,630.00. Following the completion of the sale, the executive vice president directly owned 38,137 shares of the company's stock, valued at approximately $8,771,510. This represents a 36.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the sale, the senior vice president directly owned 2,654 shares of the company's stock, valued at $619,868.24. The trade was a 66.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is currently owned by corporate insiders.

AbbVie Trading Down 0.2%

ABBV stock opened at $201.24 on Monday. The company has a market capitalization of $355.83 billion, a P/E ratio of 99.13, a PEG ratio of 0.70 and a beta of 0.32. AbbVie Inc. has a twelve month low of $176.57 and a twelve month high of $244.81. The business has a 50 day simple moving average of $213.18 and a 200-day simple moving average of $221.00.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 911.57% and a net margin of 5.79%.The company's revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.46 earnings per share. Research analysts predict that AbbVie Inc. will post 14.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be issued a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, April 15th. AbbVie's dividend payout ratio is presently 340.89%.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie continued to draw bullish attention after reporting strong first-quarter results, with revenue and earnings coming in ahead of expectations and showing that growth is extending beyond Humira into newer drugs like Skyrizi and Rinvoq. AbbVie Delivers Strong Q1 Earnings Beyond Humira. This Dividend King Still Shines.
• Positive Sentiment: AbbVie completed an early safety study for ABBV-142, which may improve investor confidence in the company’s pipeline and future oncology growth prospects. AbbVie Completes Early Safety Study for ABBV-142, Nudging Pipeline Hopes Higher
• Positive Sentiment: AbbVie and adMare BioInnovations named RIME Therapeutics as a Biotech Innovators Award winner, reinforcing AbbVie’s efforts to support early-stage biotech innovation and build optionality around its pipeline ecosystem. AbbVie (ABBV), adMare BioInnovations Name RIME Therapeutics as Biotech Innovators Award Winner
• Positive Sentiment: Skyrizi ranked ahead of J&J’s Tremfya in April drug ad spending, signaling continued competitive momentum and heavy marketing support for one of AbbVie’s key growth brands. AbbVie’s Skyrizi beats out J&J’s Tremfya in April drug ad spending leaderboard
• Neutral Sentiment: Analyst commentary and Q1 earnings-call recaps highlighted ongoing interest in AbbVie’s post-Humira growth strategy, but these pieces were mostly interpretive rather than new market-moving disclosures. 5 must-read analyst questions from AbbVie’s Q1 earnings call
• Neutral Sentiment: Coverage on SKYRIZI expansion and reimbursement progress in Canada suggests continued international adoption, but the article framed these as part of an already constructive longer-term thesis rather than a single new catalyst. Does Strong Q1 Results And SKYRIZI Expansion Reshape The Bull Case For AbbVie (ABBV)?
• Negative Sentiment: One relative headwind is that ABBV shares have recently traded below key moving averages, reflecting some investor caution even as fundamentals remain solid.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABBV. Guggenheim restated a "buy" rating and set a $249.00 target price on shares of AbbVie in a research note on Friday, May 1st. Berenberg Bank set a $275.00 target price on AbbVie in a research note on Tuesday, January 20th. UBS Group decreased their target price on AbbVie from $240.00 to $230.00 and set a "neutral" rating for the company in a research note on Thursday, February 5th. Bank of America upgraded AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 target price for the company in a research note on Thursday, April 30th. Finally, BMO Capital Markets restated an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.90.

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.

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