Bank of New York Mellon Corp Sells 424,793 Shares of AbbVie Inc. $ABBV

Bank of New York Mellon Corp cut its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,853,368 shares of the company's stock after selling 424,793 shares during the period. Bank of New York Mellon Corp owned 0.73% of AbbVie worth $3,234,422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Litman Gregory Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth approximately $28,000. Imprint Wealth LLC lifted its holdings in AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Legacy Wealth Managment LLC ID lifted its holdings in AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock valued at $31,000 after purchasing an additional 73 shares during the last quarter. IFC & Insurance Marketing Inc. bought a new position in AbbVie during the fourth quarter worth $31,000. Finally, Abound Financial LLC bought a new position in AbbVie during the fourth quarter worth $32,000. 70.23% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares of the company's stock, valued at $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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: Billionaire investor Ken Griffin increased his AbbVie position by 547% in the second quarter, highlighting institutional confidence in the company’s high dividend yield and relatively defensive business profile. Billionaire Ken Griffin Increased His Stake in This Dividend King by 547% in Q2
• Positive Sentiment: AbbVie’s immunology franchise remains a key growth anchor, while newer medicines and its oncology pipeline are helping diversify the company beyond Humira and support its longer-term outlook. Is AbbVie Quietly Rebalancing Its Growth Story Around Oncology Innovation?
• Positive Sentiment: Recent quarterly results exceeded analyst expectations, with revenue up 10.2% year over year and earnings modestly ahead of consensus. Management’s third-quarter earnings outlook also points to continued operating momentum.
• Neutral Sentiment: Analysts see AbbVie and Eli Lilly as offering different combinations of growth, pipeline potential and risk; the comparison reinforces that AbbVie is viewed more as a dividend and established-product investment than a high-growth pharmaceutical story. LLY vs. ABBV: Which Stock Has the Stronger Growth Prospects?
• Negative Sentiment: Valuation is the main near-term concern. After its strong run, AbbVie trades at an elevated earnings multiple, leaving less room for disappointment if growth slows or pipeline investments take longer to pay off. Has AbbVie Stock Become Too Expensive to Buy?
• Negative Sentiment: Second-quarter oncology sales declined 2.4%, primarily because of falling Imbruvica revenue. Growth from Venclexta and newer products only partially offset that pressure, raising concerns about the pace of AbbVie’s portfolio transition. How Did ABBV’s Oncology Sales Hold Up in Q2 Amid Imbruvica Headwinds?

AbbVie Stock Performance

NYSE:ABBV opened at $263.08 on Thursday. The company has a market cap of $464.81 billion, a price-to-earnings ratio of 74.32, a PEG ratio of 0.88 and a beta of 0.30. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $267.47. The stock has a fifty day moving average price of $251.04 and a 200-day moving average price of $228.43.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts' consensus estimates of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. During the same quarter last year, the business earned $2.97 earnings per share. AbbVie's revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Research analysts predict that AbbVie Inc. will post 14.06 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were given a dividend of $1.73 per share. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.6%. AbbVie's dividend payout ratio (DPR) is currently 195.48%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Evercore set a $235.00 price objective on shares of AbbVie in a research report on Friday, May 15th. Wells Fargo & Company lifted their target price on shares of AbbVie from $295.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. DZ Bank upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Barclays increased their price target on shares of AbbVie from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Finally, Citigroup raised their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $275.95.

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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