Sumitomo Mitsui Trust Group Reduces $43M in AbbVie Inc. ($ABBV)
Key Points
- Sumitomo Mitsui Trust Group changed its AbbVie Inc. ($ABBV) stake by 4.6% last quarter, cutting to 3,914,633 shares worth $889.44 million.
- Wall Street's consensus rating on $ABBV is Buy and an average price target of $253.55.
- $ABBV last traded around $227.21.
Sumitomo Mitsui Trust Group trimmed its position in AbbVie Inc. ($ABBV) by 4.6% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,914,633 shares of AbbVie Inc. after selling 188,212 shares during the quarter. Sumitomo Mitsui Trust Group's holdings in AbbVie Inc. were worth $889.44 million as of its most recent filing.
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About AbbVie Inc.
AbbVie Inc., a research-based biopharmaceutical company, engages in the research and development, manufacturing, commercializing, and sale of medicines and therapies worldwide. The company offers Skyrizi to treat autoimmune diseases; Rinvoq to treat inflammatory diseases; Imbruvica for the treatment of adult patients with blood cancers; Venclexta to treat blood cancers; Elahere to treat various cancer; and Epkinly to treat lymphoma; and Emrelis for the treatment of lung cancer. It also provides facial injectables, plastics and regenerative medicine, body contouring, and skincare products; botox Cosmetic for the treatment of glabellar lines, crow's feet, forehead lines, and platysma bands; Juvederm Collection to treat volume loss in the temples, undereye, cheeks, chin, lips and lower face; Vraylar to treat schizophrenia, bipolar disorder, and depressive disorder; Duodopa to treat Parkinson's disease; Ubrelvy to treat migraine; Qulipta for episodic and chronic migraine; and Vyalev for the treatment of motor fluctuations, as well as Botox Therapeutic to treat chronic migraine, overactive bladder, spasticity, cervical dystonia, and other conditions. In addition, the company offers Ozurdex for visual impairment; Lumigan/Ganfort and Alphagan/Combigan for the reduction of elevated intraocular pressure in patients with open angle glaucoma or ocular hypertension; and other eye care products, including Refresh/Optive, Xen, Durysta, and Restasis. Further, it provides Mavyret to treat chronic hepatitis C virus genotype 1-6 infection; Creon, a pancreatic enzyme therapy; and Linzess/Constella to treat irritable bowel syndrome with constipation and chronic idiopathic constipation. The company was incorporated in 2012 and is headquartered in North Chicago, Illinois.
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