Montecito Bank & Trust Cuts Stake in AbbVie Inc. $ABBV

Montecito Bank & Trust lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 31,739 shares of the company’s stock after selling 2,590 shares during the period. AbbVie accounts for 1.2% of Montecito Bank & Trust’s portfolio, making the stock its 21st largest position. Montecito Bank & Trust’s holdings in AbbVie were worth $7,252,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ABBV. Diversified Trust Co lifted its position in shares of AbbVie by 23.6% during the third quarter. Diversified Trust Co now owns 57,076 shares of the company’s stock worth $13,215,000 after purchasing an additional 10,891 shares in the last quarter. Permanent Capital Management LP acquired a new stake in AbbVie during the 3rd quarter valued at $720,000. Railway Pension Investments Ltd grew its holdings in AbbVie by 33.0% during the 3rd 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 in the last quarter. World Investment Advisors increased its stake in AbbVie by 9.4% during the 3rd quarter. World Investment Advisors now owns 113,925 shares of the company’s stock worth $26,378,000 after buying an additional 9,811 shares during the period. Finally, Charles Schwab Trust Co increased its stake in AbbVie by 93.4% during the 3rd quarter. Charles Schwab Trust Co now owns 32,105 shares of the company’s stock worth $7,434,000 after buying an additional 15,502 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $204.89 on Tuesday. The firm has a fifty day moving average of $222.79 and a two-hundred day moving average of $224.80. The firm has a market cap of $362.29 billion, a P/E ratio of 86.82, a P/E/G ratio of 0.71 and a beta of 0.34. AbbVie Inc. has a 1-year low of $164.39 and a 1-year high of $244.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, February 4th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.06. AbbVie had a net margin of 6.91% and a negative return on equity of 1,579.75%. The business had revenue of $16.62 billion for the quarter, compared to analyst estimates of $16.39 billion. During the same quarter in the prior year, the business posted $2.16 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $1.73 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.92 annualized dividend and a yield of 3.4%. AbbVie’s dividend payout ratio is presently 293.22%.

Insider Buying and Selling

In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the transaction, the senior vice president owned 2,654 shares of the company’s stock, valued at $619,868.24. This trade represents a 66.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 22,381 shares of AbbVie stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value 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 approximately $8,771,510. The trade was a 36.98% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of analyst reports. Guggenheim reissued a “buy” rating on shares of AbbVie in a research report on Thursday, March 12th. UBS Group dropped their target price on AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Piper Sandler boosted their price target on AbbVie from $289.00 to $299.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Evercore reduced their price target on AbbVie from $232.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $253.15.

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.