Blue Trust Inc. Reduces Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Blue Trust Inc. reduced its AbbVie stake by 10.7% in the first quarter, selling 4,863 shares and leaving it with 40,619 shares valued at about $8.83 million.
• AbbVie reported better-than-expected first-quarter results, posting EPS of $2.65 versus estimates of $2.59 and revenue of $15 billion versus expectations of $14.72 billion, with revenue up 12.4% year over year.
• The company also announced a quarterly dividend of $1.73 per share, payable August 14, which works out to an annualized $6.92 dividend yield of 2.8%.

Blue Trust Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,619 shares of the company's stock after selling 4,863 shares during the quarter. Blue Trust Inc.'s holdings in AbbVie were worth $8,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in AbbVie in the fourth quarter valued at $5,865,055,000. Wellington Management Group LLP grew its holdings in shares of AbbVie by 457.4% during the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock worth $2,439,714,000 after purchasing an additional 8,646,424 shares during the last quarter. Capital World Investors grew its holdings in shares of AbbVie by 106.3% during the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company's stock worth $2,986,777,000 after purchasing an additional 6,736,161 shares during the last quarter. Cardano Risk Management B.V. increased its position in shares of AbbVie by 914.6% during the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company's stock worth $1,244,112,000 after purchasing an additional 4,908,260 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of AbbVie by 10.4% during 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 in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $243.65 on Friday. AbbVie Inc. has a one year low of $181.73 and a one year high of $244.81. The stock has a market capitalization of $430.47 billion, a price-to-earnings ratio of 120.02, a PEG ratio of 0.72 and a beta of 0.32. The company has a 50-day simple moving average of $214.30 and a 200-day simple moving average of $218.96.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business's revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 14.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be paid a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is 340.89%.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Canaccord raised its price target on AbbVie to $273 from $265 and reiterated a Buy rating, saying the Apogee acquisition improves AbbVie’s long-term growth outlook. Canaccord Says AbbVie’s (ABBV) Apogee Deal Strengthens Long-Term Growth Outlook
• Positive Sentiment: AbbVie’s Apogee deal is being viewed as a potentially accretive immunology bet, with articles highlighting the chance to add a prospective blockbuster asset and boost future revenue growth. AbbVie Just Sparked a 46% Rally in Apogee. Here’s Why This $10.9 Billion Deal Could Be a Win for AbbVie Investors.
• Positive Sentiment: AbbVie also expanded its pipeline by launching a new Phase 1 safety study for bretisilocin, adding another early-stage growth opportunity. AbbVie Expands Pipeline With New Bretisilocin Phase 1 Safety Study
• Positive Sentiment: AbbVie received EU approval for Skyrizi in pediatric plaque psoriasis, expanding the drug’s addressable market and supporting its immunology franchise. AbbVie Gets EU Nod for Skyrizi in Pediatric Plaque Psoriasis
• Neutral Sentiment: Several lifestyle and brand-related items highlighted Allergan Aesthetics and BOTOX® Cosmetic initiatives, including Formula Wellness earning Top 50 status and the Confidence Collective entrepreneur program. These reinforce AbbVie’s consumer aesthetics presence, but are unlikely to move the stock materially on their own. Formula Wellness Earns Top 50 Status for 2026 from Allergan Aesthetics

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of AbbVie in a research report on Tuesday. BMO Capital Markets reaffirmed an "outperform" rating on shares of AbbVie in a research report on Monday, March 9th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 7th. Bank of America raised AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 price objective for the company in a report on Thursday, April 30th. Finally, Canaccord Genuity Group increased their price objective on AbbVie from $265.00 to $273.00 and gave the company a "buy" rating in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $253.81.

AbbVie Company 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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