Truist Financial Corp Grows Position in AbbVie Inc. $ABBV

Key Points

• Truist Financial raised its stake in AbbVie by 4.2% in Q4 to 2,402,270 shares—about $548.9 million and the firm's 22nd largest holding (≈0.14% of AbbVie).
• AbbVie beat Q1 estimates and lifted its 2026 outlook, driven by immunology drugs (Skyrizi, Rinvoq) offsetting Humira declines, which spurred multiple analyst upgrades and higher price targets.
• Despite the beat, insiders sold shares (notably SVP David Ryan Purdue and EVP Perry Siatis) and the company discontinued a cancer candidate, keeping investor sentiment cautious amid valuation and execution concerns.

Truist Financial Corp boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,402,270 shares of the company's stock after purchasing an additional 96,251 shares during the quarter. AbbVie comprises 0.7% of Truist Financial Corp's portfolio, making the stock its 22nd largest position. Truist Financial Corp owned about 0.14% of AbbVie worth $548,895,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Railway Pension Investments Ltd grew its holdings in AbbVie by 33.0% in the third quarter. Railway Pension Investments Ltd now owns 853,949 shares of the company's stock valued at $197,723,000 after purchasing an additional 211,800 shares during the period. Public Sector Pension Investment Board grew its holdings in AbbVie by 17.0% in the third quarter. Public Sector Pension Investment Board now owns 1,044,690 shares of the company's stock valued at $241,888,000 after purchasing an additional 151,644 shares during the period. Vanguard Group Inc. lifted its position in AbbVie by 0.3% during the third quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company's stock valued at $41,155,601,000 after buying an additional 448,554 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in AbbVie by 25.5% during the third quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company's stock valued at $93,024,000 after buying an additional 81,625 shares in the last quarter. Finally, Channing Capital Management LLC lifted its position in AbbVie by 10.5% during the third quarter. Channing Capital Management LLC now owns 55,647 shares of the company's stock valued at $12,885,000 after buying an additional 5,302 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Q1 earnings beat and guidance lift — AbbVie topped Q1 estimates, raised its 2026 outlook and said immunology drugs (Skyrizi, Rinvoq) are offsetting Humira declines. This is the core positive catalyst supporting analyst upgrades. Seeking Alpha: AbbVie hikes 2026 outlook BioSpace: AbbVie tops Q1, raises outlook
• Positive Sentiment: Sell‑side upgrades and higher price targets — Multiple firms raised ratings/targets after the results (Morgan Stanley to $278, Canaccord to $265, Guggenheim reaffirm/ $249 PT, Bank of America upgraded to Buy/$234, Cantor reiterated Overweight/$240). These lifts signal renewed analyst conviction in AbbVie’s post‑Humira pivot. Benzinga: analyst moves InsiderMonkey: BofA upgrade
• Positive Sentiment: Skyrizi competitive defense — AbbVie outlined how Skyrizi will respond to new J&J plaque‑psoriasis rival Icotyde, reinforcing confidence in market share retention for a key growth driver. FiercePharma: Skyrizi defense
• Neutral Sentiment: Corporate R&D/community engagement — AbbVie awarded the AbbVie Biotech Innovators prize to RIME Therapeutics (Quebec), signalling long‑term commitment to immunology innovation, but limited near‑term financial impact. GlobeNewswire: RIME award
• Negative Sentiment: Investors remain jittery despite the beat — WSJ coverage and market commentary highlight that, while results were strong, concerns over Humira erosion, execution risk on acquisitions/pipeline strategy, and valuation keep sentiment cautious and likely drove selling pressure. YouTube/WSJ: Investors still worried
• Negative Sentiment: Pipeline trimming and insider selling — The company discontinued a cancer candidate (noted in Q1 coverage) and recent disclosures show insiders sold shares, which can weigh on near‑term sentiment. BioSpace: discontinued candidate
• Negative Sentiment: Small analyst estimate cuts and mixed institutional flows — Erste trimmed FY2026/27 EPS modestly; recent large institutional portfolio shifts (some big sellers) add uncertainty to demand. These are headwinds for the stock near term. MarketBeat: analyst/flows summary

Insiders Place Their Bets

In other news, SVP David Ryan Purdue sold 5,230 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction 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. The trade was a 66.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 22,381 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 38,137 shares in the company, valued at approximately $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.06% of the company's stock.

AbbVie Stock Up 0.0%

Shares of ABBV stock opened at $206.63 on Monday. The firm's 50 day moving average price is $214.55 and its two-hundred day moving average price is $221.49. AbbVie Inc. has a fifty-two week low of $176.57 and a fifty-two week high of $244.81. The stock has a market cap of $365.36 billion, a price-to-earnings ratio of 101.79, a price-to-earnings-growth ratio of 0.71 and a beta of 0.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 911.57%. The business had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.72 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The business's revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 14.29 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, April 15th. AbbVie's payout ratio is presently 340.89%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ABBV shares. Royal Bank Of Canada started coverage on shares of AbbVie in a research report on Tuesday, February 24th. They set an "outperform" rating and a $260.00 price target on the stock. Barclays started coverage on shares of AbbVie in a research report on Thursday, February 19th. They set an "overweight" rating and a $275.00 price target on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $223.00 price target on shares of AbbVie in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AbbVie in a research report on Wednesday, January 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $240.00 price target on shares of AbbVie in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $252.90.

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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