Bank of America 13F: Cuts AbbVie (ABBV) Stake by $477M
Bank of America has trimmed its holdings in AbbVie by 1.9 million shares, reflecting a 7.3% decrease.
Reviewed by automated data checks against the source filing. How we make and check alerts
Bank of America sold 1,887,456 shares from its stake in AbbVie Inc. ($ABBV), a 7.31% decrease, according to a 13F filing with the SEC dated May 18, 2026. It reported 23,936,943 shares worth $6.05 billion at the end of the quarter.
Since the filing, $ABBV is up 1.8% after 1 week, up 5.7% after 1 month and up 38.1% to date (from the $206.66 close on May 18, 2026).
ABBV
AbbVie Inc.
Key Points
- Bank of America trimmed its position in AbbVie Inc. by about 1.9 million shares, bringing its total to roughly 23.9 million shares valued at around $6.05 billion as of May 18.
- Bank of America held 23,936,943 $ABBV shares at quarter end, down 7.31% from the prior quarter.
- The stock trades near $252.59, which is below its 50-day moving average of about $255.68, indicating potential volatility in the near term.
- Recent 13F filings show other funds, like BlackRock and JPMorgan, also adjusted their AbbVie holdings, highlighting shifts among major investors.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated AbbVie Inc. alert may contain errors. Disclosures
Bank of America has trimmed its position in AbbVie Inc. (NYSE: ABBV) by about 1.9 million shares, which is a 7.3% decrease. This reduction brings its total shares to approximately 23.9 million, valued at around $6.05 billion as reported in the latest Form 13F filed with the SEC on May 18, 2026.
In this quarter, Bank of America reduced its stake from 25.8 million shares to 23.9 million. The stock trades at $252.59, which is below its 50-day moving average of about $255.68. This move comes amid a general trend where other major shareholders have also adjusted their positions in AbbVie, indicating a shift in sentiment or strategy.
Other Institutional Activity in AbbVie
Several other funds have adjusted their holdings in AbbVie as well. BlackRock Inc. lowered its stake by 1.2 million shares, ending with 149.5 million shares worth approximately $42.7 billion. Vanguard Capital Management LLC added 516,956 shares, bringing its total to about 115.4 million shares valued at around $32.9 billion. State Street Corporation increased its holdings by 1.4 million shares, resulting in approximately 82.6 million shares worth about $23.6 billion. Meanwhile, Vanguard Portfolio Management LLC reduced its stake by 1.0 million shares, holding about 48.5 million shares valued at roughly $13.8 billion, and JPMorgan Chase & Co. cut its position significantly by 8.9 million shares to about 47.9 million shares valued at around $13.7 billion.
AbbVie Inc. Stock Down 10.9%
As of now, AbbVie shares are trading at $252.59, which is down from the previous close of $263.96. This dip puts the stock price closer to its 52-week low of $190.75, raising questions about future performance, especially as it has fluctuated near its 50-day moving average.
Recent Earnings
AbbVie reported a revenue of approximately $64.4 billion for its latest fiscal period, reflecting a growth rate of 10.2%. The company also posted an earnings per share (EPS) of $3.54, indicating a net margin of about 9.8%. Its next earnings report is scheduled for October 29, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
4 analysts raised price targets.
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EPS & revenue
EPS met estimates. Revenue met estimates.
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Profit surprise
EBITDA missed by 42 percent. Operating income missed by 72 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
4 target raises.
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Earnings quality
Gross margin up 1.9 points. Operating margin up 3.6 points. Positive free cash flow.
Earnings Call Summary
AbbVie delivered strong first quarter results with $15 billion in sales and earnings per share of $2.65, beating expectations. Skyrizi sales hit $4.5 billion with 29 percent growth in psoriasis and inflammatory bowel disease markets. Rinvoq brought in $2.1 billion with 20 percent growth across rheumatology and gastroenterology, and the company is preparing to launch the drug in alopecia areata and vitiligo later this year.
Guidance The company raised full year earnings per share guidance to between $14.08 and $14.28, up $0.12. They now expect about $67.3 billion in total sales for the year. They also raised guidance for second quarter to about $16.7 billion in revenue and earnings per share between $3.74 and $3.78.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend
AbbVie has an annual dividend rate of $6.92, providing a yield of about 2.62%. The company's dividend payout ratio stands at approximately 190.4%, showing a commitment to returning value to shareholders despite the high payout relative to earnings.
Insider Buying and Selling at AbbVie Inc.
Recent insider transactions include sales by several officers. For example, Nicholas Donoghoe, an officer, sold 32,710 shares at an average price of $250.00 on August 14, 2026, totaling about $8.18 million. David Ryan Purdue also sold 5,230 shares at approximately $233.56, valued at about $1.22 million on March 4, 2026. Additional sales were made by Perry C. Siatis, who sold multiple batches, with the largest totaling 22,381 shares at $230.00 on February 25, 2026, worth around $5.15 million.
Analysts Set New Price Targets
On October 13, 2026, RBC Capital reiterated its "Outperform" rating for AbbVie, maintaining a price target of $280. Similarly, UBS kept its "Neutral" rating but raised its target to $275.00 from $260.00 on October 9, 2026. Guggenheim reiterated a "Buy" rating with a target of $288.00 on the same date, while JP Morgan maintained its "Overweight" rating, increasing its target from $285.00 to $300.00.
About AbbVie
AbbVie Inc. is a research-based biopharmaceutical company based in North Chicago, IL. It focuses on developing, manufacturing, and selling a range of medicines, including treatments for autoimmune and inflammatory diseases, cancer, and other serious health conditions. The changes in institutional holdings may reflect broader market trends and changes in investor sentiment regarding its future prospects.
Bottom Line
As AbbVie continues to navigate market challenges, investors will be watching for its next earnings report on October 29, 2026. The latest 13F filings provide insights into how major shareholders are repositioning themselves, but these may not represent current positions.
Related Filing Alerts
Source: Bank of America's 13F filing on $ABBV (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Bank of America 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts