AbbVie Inc. $ABBV Shares Sold by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans reduced its AbbVie stake by 8.9% in the fourth quarter, selling 37,698 shares and leaving it with 383,600 shares worth about $87.7 million.
• AbbVie recently beat quarterly expectations, reporting EPS of $2.65 on $15 billion in revenue, with revenue up 12.4% year over year. The company also paid a quarterly dividend of $1.73 per share, equal to a 3.3% annualized yield.
• Analyst sentiment remains generally positive, with several firms maintaining or raising bullish ratings and an average Moderate Buy price target of $253.43. Recent commentary highlighted strong sales of Skyrizi and Rinvoq as key supports for AbbVie’s outlook.

Thrivent Financial for Lutherans trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 383,600 shares of the company's stock after selling 37,698 shares during the period. Thrivent Financial for Lutherans' holdings in AbbVie were worth $87,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chelsea Counsel Co. acquired a new stake in shares of AbbVie during the 3rd quarter worth $26,000. Westend Capital Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of AbbVie during the 3rd quarter worth $31,000. Legacy Wealth Managment LLC ID increased its holdings in shares of AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock worth $31,000 after buying an additional 73 shares during the last quarter. Finally, WestEnd Advisors LLC increased its holdings in shares of AbbVie by 160.4% during the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company's stock worth $32,000 after buying an additional 85 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

NYSE:ABBV opened at $210.54 on Friday. The firm has a 50-day moving average of $210.27 and a two-hundred day moving average of $220.10. The stock has a market cap of $371.97 billion, a P/E ratio of 103.71, a PEG ratio of 0.73 and a beta of 0.32. AbbVie Inc. has a 1-year low of $180.25 and a 1-year high of $244.81.

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 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 company posted $2.46 EPS. As a group, equities analysts expect that AbbVie Inc. will post 14.32 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th were given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, April 15th. AbbVie's dividend payout ratio is presently 340.89%.

Insider Transactions at AbbVie

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

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s Q1 results were supported by strong sales of Skyrizi and Rinvoq, which helped offset ongoing Humira declines and boosted the company’s 2026 guidance. Article: How Important Are Skyrizi and Rinvoq to AbbVie's Q1 Results?
• Positive Sentiment: Analysts have turned more optimistic on AbbVie’s earnings power, with Erste Group raising FY2027 EPS estimates and the company’s long-term pipeline still viewed favorably. Article: AbbVie analyst estimate update
• Positive Sentiment: Recent commentary highlighted AbbVie as a potentially better growth story than AstraZeneca because of its valuation, dividend profile, and pipeline strength. Article: Which Pharma Giant Offers Better Growth: AstraZeneca or AbbVie?

Analyst Ratings Changes

ABBV has been the subject of a number of research analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $223.00 price objective on shares of AbbVie in a report on Wednesday, January 28th. Wall Street Zen raised shares of AbbVie from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Barclays assumed coverage on shares of AbbVie in a research report on Thursday, February 19th. They set an "overweight" rating and a $275.00 price target for the company. William Blair reaffirmed an "outperform" rating on shares of AbbVie in a research report on Monday, March 9th. Finally, Royal Bank Of Canada assumed coverage on shares of AbbVie in a research report on Tuesday, February 24th. They set an "outperform" rating and a $260.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average price target of $253.43.

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.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.