Bank of America Corp DE Reduces Stock Position in AbbVie Inc. $ABBV

Bank of America Corp DE trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.3% in the first quarter, Holdings Channel.com reports. The fund owned 23,936,943 shares of the company’s stock after selling 1,887,456 shares during the period. Bank of America Corp DE’s holdings in AbbVie were worth $5,206,046,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Litman Gregory Wealth Management LLC purchased a new position in AbbVie in the 4th quarter valued at approximately $28,000. Imprint Wealth LLC boosted its position in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Legacy Wealth Managment LLC ID grew its holdings in AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after purchasing an additional 73 shares during the last quarter. IFC & Insurance Marketing Inc. acquired a new stake in AbbVie in the fourth quarter valued at $31,000. Finally, WestEnd Advisors LLC increased its position in shares of AbbVie by 160.4% in the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock valued at $32,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The European Union approved RINVOQ for adults and adolescents aged 12 and older with severe alopecia areata. The decision was supported by Phase 3 data showing statistically significant scalp, eyebrow and eyelash hair regrowth, including complete scalp regrowth for some patients. RINVOQ alopecia areata approval
• Positive Sentiment: RINVOQ also received EU approval for non-segmental vitiligo in patients 12 and older who are candidates for systemic therapy. AbbVie described it as the first and only systemic treatment approved in the EU for this condition, creating another potential revenue opportunity for the drug. RINVOQ vitiligo approval
• Positive Sentiment: The approvals reinforce investor expectations that RINVOQ and Skyrizi can continue replacing Humira as AbbVie’s primary growth engines. The two drugs have been highlighted as key drivers ahead of earnings, while AbbVie’s long dividend-raise record supports its appeal to income-focused investors.
• Positive Sentiment: Unusual options activity showed investors purchasing approximately 19,745 call contracts, about 18% above average call volume. This indicates increased bullish positioning, although options activity is not a guarantee of future performance.
• Neutral Sentiment: Erste Group raised its 2027 EPS forecast for AbbVie to $16.40 from $16.27 but slightly lowered its 2026 estimate to $14.05 from $14.08, leaving the near-term earnings outlook mixed.
• Negative Sentiment: After a strong multiyear rally, valuation concerns and the possibility of “sell the news” volatility could limit further gains, particularly if second-quarter results or guidance do not exceed elevated expectations.

AbbVie Stock Up 0.1%

Shares of NYSE:ABBV opened at $263.58 on Thursday. The company has a market capitalization of $465.69 billion, a P/E ratio of 129.84, a P/E/G ratio of 0.87 and a beta of 0.30. AbbVie Inc. has a 52-week low of $187.62 and a 52-week high of $267.47. The stock’s fifty day simple moving average is $237.54 and its 200-day simple moving average is $223.60.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 negative return on equity of 576.45% and a net margin of 5.79%.The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter last year, the business posted $2.46 EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.14 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared 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 dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 340.89%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Barclays raised their target price on shares of AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday. Canaccord Genuity Group lifted their target price on shares of AbbVie from $273.00 to $282.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Finally, UBS Group increased their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $269.29.

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.