BlackRock Inc. Sells 1,261,213 Shares of AbbVie Inc. $ABBV

Key Points

• BlackRock reduced its AbbVie position by 0.8%, selling 1.26 million shares in the second quarter but retaining 149.5 million shares worth approximately $37.6 billion, or 8.46% of AbbVie.
• AbbVie reported better-than-expected quarterly results, with EPS of $3.65 and revenue of $16.99 billion; revenue increased 10.2% year over year. The company also declared a $1.73 quarterly dividend, equating to a 2.7% yield.
• Analyst sentiment remains favorable, with AbbVie carrying a “Moderate Buy” consensus rating and an average price target of $275.95. However, shares trade near their 52-week high at a relatively elevated valuation, creating potential downside if pipeline or regulatory developments disappoint.

BlackRock Inc. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,488,412 shares of the company's stock after selling 1,261,213 shares during the quarter. AbbVie makes up 0.6% of BlackRock Inc.'s portfolio, making the stock its 26th largest holding. BlackRock Inc. owned 8.46% of AbbVie worth $37,617,264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Litman Gregory Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at $28,000. Imprint Wealth LLC boosted its holdings in shares of 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 boosted 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 valued at $31,000 after purchasing an additional 73 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new position in shares of AbbVie during the fourth quarter valued at about $31,000. Finally, Abound Financial LLC purchased a new position in shares of AbbVie during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. This represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $256.08 on Friday. The stock has a market cap of $452.44 billion, a price-to-earnings ratio of 72.34, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. The stock has a 50 day moving average price of $252.66 and a 200-day moving average price of $228.87. AbbVie Inc. has a one year low of $190.75 and a one year high of $267.47.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were paid a dividend of $1.73 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie's payout ratio is currently 195.48%.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. Bank of America boosted their target price on AbbVie from $234.00 to $276.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. BNP Paribas Exane raised their price target on AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Weiss Ratings raised AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Cantor Fitzgerald increased their target price on AbbVie from $265.00 to $285.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of AbbVie in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $275.95.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Skyrizi regulatory expansion: AbbVie submitted an application to the European Medicines Agency for subcutaneous induction of Skyrizi in adults with moderately to severely active Crohn’s disease. If approved, the less invasive option could improve patient convenience, strengthen Skyrizi’s European franchise and support longer-term immunology revenue. The filing is backed by positive Phase 3 AFFIRM data. AbbVie Seeks EU Nod for Subcutaneous Skyrizi in Crohn's Disease
• Positive Sentiment: Additional IBD pipeline investment: AbbVie is conducting a Phase 2 platform basket trial evaluating potential treatments across Crohn’s disease and ulcerative colitis. The study adds longer-term pipeline optionality and may help diversify growth beyond existing immunology products, although it remains an early-stage catalyst. AbbVie Expands Its IBD Pipeline With New Phase 2 Basket Trial
• Neutral Sentiment: Income-oriented appeal: Recent market commentary highlights AbbVie among established dividend stocks, reinforcing its defensive profile and appeal to income investors. This is supportive of sentiment but does not represent a new company-specific announcement. 3 Dividend Stocks, 12 Paychecks a Year
• Negative Sentiment: Valuation risk: With ABBV trading at a high earnings multiple and close to its 52-week peak, investors may be concerned that substantial future growth is already reflected in the share price. Any regulatory delay or disappointing pipeline data could therefore produce an outsized reaction. Has AbbVie Stock Become Too Expensive to Buy?

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.

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