Citizens Financial Group Inc. RI grew its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 17.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,168 shares of the company's stock after acquiring an additional 29,800 shares during the period. AbbVie comprises about 0.6% of Citizens Financial Group Inc. RI's portfolio, making the stock its 27th largest holding. Citizens Financial Group Inc. RI's holdings in AbbVie were worth $50,371,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in AbbVie by 1.4% during the fourth quarter. State Street Corp now owns 80,940,931 shares of the company's stock worth $18,494,193,000 after buying an additional 1,119,274 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock worth $10,179,099,000 after acquiring an additional 4,190,487 shares during the last quarter. Bank of America Corp DE grew its stake in shares of AbbVie by 1.4% during the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company's stock worth $5,900,617,000 after buying an additional 356,394 shares during the last quarter. Norges Bank bought a new stake in AbbVie during the 4th quarter worth $5,865,055,000. Finally, Capital Research Global Investors boosted its position in AbbVie by 0.7% during the 4th quarter. Capital Research Global Investors now owns 25,408,200 shares of the company's stock worth $5,805,530,000 after buying an additional 177,370 shares during the period. 70.23% of the stock is owned by institutional investors.
More 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 Price Performance
NYSE:ABBV opened at $256.08 on Friday. The stock's fifty day moving average price is $252.66 and its two-hundred day moving average price is $228.87. The company has a market cap of $452.44 billion, a P/E ratio of 72.34, a P/E/G ratio of 0.86 and a beta of 0.30. AbbVie Inc. has a 1 year low of $190.75 and a 1 year high of $267.47.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The firm had revenue of $16.99 billion for the quarter, compared to analysts' expectations of $16.80 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The company'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. On average, analysts expect that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were given a $1.73 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie's payout ratio is 195.48%.
Insider Activity at AbbVie
In related news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was 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 of the company's stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ABBV. Bank of America increased their target price on shares of AbbVie from $234.00 to $276.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Wolfe Research raised AbbVie from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective for the company in a research note on Thursday, August 13th. Morgan Stanley restated an "overweight" rating and issued a $296.00 target price on shares of AbbVie in a report on Monday, August 3rd. Wells Fargo & Company lifted their price objective on shares of AbbVie from $295.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Finally, Guggenheim lifted their price target on AbbVie from $261.00 to $288.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Two investment 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. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $275.95.
View Our Latest Stock Report on ABBV
About AbbVie
(
Free Report)
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.
See Also
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