First National Trust Co Reduces Stake in AbbVie Inc. $ABBV

Key Points

• First National Trust Co cut its AbbVie stake by 5.7% in the fourth quarter, selling 7,068 shares and leaving it with 116,638 shares worth about $26.7 million.
• AbbVie continues to draw strong institutional interest overall, with hedge funds and other investors owning 70.23% of the stock; several firms, including Vanguard and Wellington, increased their positions significantly.
• Recent analyst coverage remains constructive, with AbbVie carrying a Moderate Buy consensus and a price target of $253.43, while the company also beat quarterly EPS and revenue estimates in its latest earnings report.

First National Trust Co lowered its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 116,638 shares of the company's stock after selling 7,068 shares during the quarter. AbbVie makes up about 0.9% of First National Trust Co's investment portfolio, making the stock its 25th largest holding. First National Trust Co's holdings in AbbVie were worth $26,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Wellington Management Group LLP raised its position in shares of AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock worth $2,439,714,000 after acquiring an additional 8,646,424 shares in the last quarter. Vanguard Group Inc. raised its position in shares of AbbVie by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company's stock worth $41,306,353,000 after acquiring an additional 3,032,438 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of AbbVie by 41.8% in the 2nd quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company's stock worth $1,733,222,000 after acquiring an additional 2,753,312 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of AbbVie by 31.8% in the 3rd quarter. Alliancebernstein L.P. now owns 7,281,327 shares of the company's stock worth $1,685,918,000 after acquiring an additional 1,758,657 shares in the last quarter. Finally, Amundi raised its position in shares of AbbVie by 15.6% in the 3rd quarter. Amundi now owns 10,508,317 shares of the company's stock worth $2,418,909,000 after acquiring an additional 1,414,621 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABBV. Royal Bank Of Canada began coverage on AbbVie in a research report on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 target price for the company. Evercore set a $235.00 target price on AbbVie in a research report on Friday, May 15th. The Goldman Sachs Group reissued a "neutral" rating and issued a $223.00 target price on shares of AbbVie in a research report on Wednesday, January 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $240.00 target price on shares of AbbVie in a research report on Thursday, April 30th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of AbbVie in a research report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.43.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie received a positive opinion from the European Medicines Agency’s CHMP for MAVIRET in acute hepatitis C, a potential label expansion that could broaden the drug’s commercial opportunity in Europe. Article Title
• Positive Sentiment: Allergan Aesthetics, an AbbVie company, also secured a positive CHMP opinion for Boey, adding another potential European growth catalyst for AbbVie’s aesthetics business. Article Title
• Positive Sentiment: AbbVie highlighted new oncology data at ASCO 2026, signaling continued momentum across its next-generation cancer pipeline and supporting longer-term growth expectations. Article Title
• Positive Sentiment: Analyst and media commentary remained constructive, with pieces calling AbbVie a strong dividend pick and a long-term buy, which can reinforce investor confidence in the stock. Article Title
• Neutral Sentiment: AbbVie plans 85 summer layoffs in California tied to its Allergan Aesthetics unit, a cost-cutting move that may draw attention but is not large enough on its own to materially change the investment case. Article Title

Insider Buying and Selling

In related news, EVP Perry C. Siatis sold 22,381 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the transaction, the executive vice president owned 38,137 shares of the company's stock, valued at $8,771,510. This trade represents a 36.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Ryan Purdue sold 5,230 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the transaction, the senior vice president directly owned 2,654 shares of the company's stock, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is owned by company insiders.

AbbVie Stock Up 0.7%

ABBV stock opened at $216.02 on Friday. AbbVie Inc. has a twelve month low of $181.71 and a twelve month high of $244.81. The firm has a market cap of $381.65 billion, a PE ratio of 106.41, a price-to-earnings-growth ratio of 0.74 and a beta of 0.32. The business has a 50 day moving average of $208.72 and a 200 day moving average of $219.68.

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. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same quarter last year, the company earned $2.46 EPS. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

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.