Sumitomo Mitsui Trust Group Inc. Decreases Stock Holdings in AbbVie Inc. $ABBV

Sumitomo Mitsui Trust Group Inc. cut its position in AbbVie Inc. (NYSE:ABBV) by 4.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,914,633 shares of the company’s stock after selling 188,212 shares during the quarter. AbbVie makes up approximately 0.6% of Sumitomo Mitsui Trust Group Inc.’s investment portfolio, making the stock its 27th largest holding. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of AbbVie worth $851,394,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Chelsea Counsel Co. purchased a new stake in AbbVie during the third quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $28,000. Westend Capital Management LLC purchased a new stake in AbbVie in the fourth quarter valued at about $29,000. Imprint Wealth LLC boosted its holdings in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX purchased a new stake in shares of AbbVie during the third quarter worth about $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.7%

Shares of NYSE:ABBV opened at $252.98 on Thursday. AbbVie Inc. has a 52-week low of $184.63 and a 52-week high of $261.64. The stock has a market cap of $446.96 billion, a price-to-earnings ratio of 124.62, a PEG ratio of 0.84 and a beta of 0.30. The business has a 50-day moving average price of $223.50 and a 200-day moving average price of $220.90.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 EPS 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 firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. AbbVie’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 14.19 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is presently 340.89%.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The European Commission approved AbbVie’s Tepkinly in combination with lenalidomide and rituximab for relapsed or refractory follicular lymphoma, expanding the drug’s commercial opportunity in Europe and reinforcing AbbVie’s oncology growth pipeline. EC approves AbbVie’s Tepkinly combination for follicular lymphoma
• Positive Sentiment: AbbVie completed a first-in-human study for ABBV-277, a clinical-stage program that could provide additional safety and efficacy data for investors watching the company’s next wave of pipeline assets. AbbVie’s ABBV‑277 Trial Completion: What Early Safety Data Could Mean for Investors
• Neutral Sentiment: AbbVie’s upcoming second-quarter earnings report is expected to show double-digit EPS growth, but investors are focused on whether results can offset recent concerns around forward guidance and margin trends. AbbVie Earnings Preview: What to Expect
• Negative Sentiment: AbbVie lowered its FY 2026 EPS guidance to $13.91-$14.11, below the consensus estimate of $14.25, and also guided Q2 EPS to $3.57-$3.61 versus expectations of $3.77, which is likely weighing on the shares today.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ABBV shares. Evercore set a $235.00 price objective on shares of AbbVie in a report on Friday, May 15th. Guggenheim reissued a “buy” rating and set a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. Wells Fargo & Company set a $260.00 price target on shares of AbbVie in a research note on Monday, June 22nd. Canaccord Genuity Group raised their price target on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $256.67.

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.