Intech Investment Management Reduces $5M in AbbVie Inc. ($ABBV)
Intech Investment Management reduced its holdings in AbbVie by 27%, now holding 49,673 shares.
Key Points
- Intech Investment Management reduced its AbbVie stake by 27%, selling 18,393 shares to hold 49,673 shares valued at $12.2 million.
- AbbVie stock traded near $246.56 on Saturday, with a market cap of $447.6 billion and a forward P/E of 15.55.
- Insiders bought shares on May 8, 2026, and analysts maintained their buy ratings with price targets up to $298.
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Intech Investment Management has cut its stake in AbbVie Inc. (NYSE: ABBV) by 27%, according to its latest SEC filing. The firm sold 18,393 shares, reducing its holdings to 49,673 shares. The value of its remaining stake is approximately $12.2 million as of the filing period.
Intech Investment Management vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
What Changed in Intech Investment Management's AbbVie Position
Intech Investment Management reduced its position in AbbVie by 18,393 shares, a 27% decrease from its previous holdings of 68,066 shares. The firm now holds 49,673 shares valued at about $12.2 million.
Other Institutional Activity in AbbVie
Among other institutional investors, BlackRock, Inc. trimmed its AbbVie holdings by 476,418 shares, bringing its total to 150,698,125 shares worth around $32.8 billion. Meanwhile, Vanguard Capital Management LLC opened a new position, acquiring 114,880,324 shares valued at approximately $24.9 billion. State Street Corp added 276,585 shares, now holding 81,217,516 shares valued at $17.7 billion. JPMorgan Chase & Co increased its stake by 4,348,368 shares, reaching a total of 56,741,691 shares worth $12.1 billion. Geode Capital Management, LLC boosted its holdings by 2,107,601 shares, ending with 46,737,581 shares valued at $10.1 billion.
AbbVie Inc. Stock Down 1.1%
Shares of NYSE:ABBV traded near $246.56 on Saturday. AbbVie has a market cap of $447.6 billion, a forward P/E ratio of 15.55, and a beta of 0.309. The stock's 52-week range is $181.73 to $253.35, with a 50-day moving average of $214.78 and a 200-day moving average of $221.26. The company's current ratio is 0.796, and its quick ratio is 0.519.
$ABBV stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
AbbVie reported revenue of $62.8 billion with a growth rate of 12.4%. The company's net margin stands at 5.8%, and its EPS is $2.05. Investors can look forward to the next earnings report, scheduled for July 31, 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 pays an annual dividend rate of $6.92, resulting in a yield of 2.73%. The dividend payout ratio is 325.98%.
Insider Buying and Selling at AbbVie Inc.
On May 8, 2026, several insiders, including Frederick Waddell, William H.L. Burnside, Thomas Falk, Roxanne Austin, Edward Rapp, and Brett Hart, each purchased 1,118 shares of AbbVie. These transactions were not part of a planned trading program.
Analysts Set New Price Targets
On June 23, 2026, Piper Sandler reiterated its buy rating on AbbVie with a price target of $298. Canaccord Genuity also maintained a buy rating, setting a target at $273. Evercore ISI Group maintained its buy rating with a target of $235 as of May 15, 2026. The consensus among 29 analysts is a buy rating, with an average target price of $254.38.
About AbbVie
AbbVie Inc., headquartered in North Chicago, Illinois, is a biopharmaceutical company specializing in the development, manufacturing, and sale of medicines and therapies globally. Led by CEO Scott T. Reents, AbbVie employs around 57,000 people. The company is known for its extensive portfolio, which includes treatments for autoimmune diseases, blood cancers, and neurological disorders, as well as a range of aesthetic products.
Bottom Line
Intech Investment Management's decision to reduce its stake in AbbVie reflects a notable change in its portfolio strategy. Investors keep a close watch on these filings to gauge institutional sentiment. It's important to remember that these 13F filings are backward-looking and may not represent the investor's current position.
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