Sumitomo Mitsui DS Asset Management Company 13F: Cuts ABBV Stake by $8.6M
Key Points
- Sumitomo Mitsui DS Asset Management trimmed its AbbVie Inc. position by 10.1% during the quarter, bringing its holding down to 291,632 shares valued at roughly $76.3 million in a filing on October 20, 2026.
- AbbVie Inc. posted trailing twelve-month revenues of $64.4 billion alongside earnings of $3.54 per share, with its next earnings report set for October 30, 2026.
- Wall Street analysts hold a consensus buy recommendation for the drug maker with a mean target price of $282.61 across 28 opinions.
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Sumitomo Mitsui DS Asset Management reduced its holdings in AbbVie Inc. ABBV by 10.1% during the quarter, according to a Form 13F filed with the U.S. Securities and Exchange Commission on October 20, 2026. The fund sold 32,919 shares of the drug manufacturer, leaving it with a total of 291,632 shares. The remaining stake was valued at approximately $76.3 million at the time of the filing.
ABBV
AbbVie Inc.
What Changed in Sumitomo Mitsui DS Asset Management's AbbVie Position
The institutional investor trimmed its exposure to the pharmaceutical company from a prior level of 324,551 shares down to 291,632 shares. This 10.14% reduction adjusted the portfolio weight of the holding while maintaining a sizable position in the healthcare firm.
Other Institutional Activity in AbbVie
Other large investment managers also adjusted their positions in the drug maker. AlphaStar Capital Management grew its holdings by 2,299 shares, ending with 19,380 shares worth about $5,069,641 after a 13.5% increase. Meanwhile, Y-Intercept sold out its entire position, unloading 74,248 shares to finish with zero holdings.
AbbVie Inc. Stock Up 1.3%
The stock recently traded around $289.08 on October 21, 2026, roughly equal to its close of $289.08 on the filing date. Shares sit near their 52-week high of $291.40 and well above the 52-week low of $190.75.
Recent Earnings
AbbVie reported trailing twelve-month revenues of $64,385,998,848 with earnings of $3.54 per share. The company maintains a net profit margin of 9.8% and a return on equity profile backed by major immunology therapies like Skyrizi and Rinvoq. Investors look ahead to the next earnings release scheduled for October 30, 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
The company distributes an annual dividend rate of $6.92 per share, which translates to a dividend yield of 2.45%. The payout ratio stands at 190.4%.
Insider Buying and Selling at AbbVie Inc.
Company insiders completed several share transactions earlier in the year. General Counsel Perry C. Siatis sold 22,381 shares on February 25, 2026, at an average price of $230.00 for a total value of about $5.1 million, followed by a sale of 18,668 shares on March 2, 2026. Officer David Ryan Purdue sold 5,230 shares on March 4, 2026, at $233.56, and officer Nicholas Donoghoe sold 32,710 shares at $250.00 on August 14, 2026.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock ahead of the filing. JP Morgan maintained an overweight rating and lifted its target from $285.00 to $300.00 on October 8, 2026. Cantor Fitzgerald kept an overweight rating with a target raised to $290.00 on the same day. UBS maintained a neutral stance with a target moved to $275.00 on October 9, 2026. Guggenheim reiterated a buy rating with a $288.00 target, and RBC Capital reiterated an outperform rating with a $280.00 target. The stock carries a consensus buy recommendation from 28 analysts with a mean price target of $282.61.
About AbbVie
AbbVie Inc. is a research-focused biopharmaceutical company headquartered in North Chicago, Illinois. The firm develops and commercializes advanced medicines targeting immunology, oncology, and neuroscience disorders worldwide, anchored by flagship treatments for autoimmune and inflammatory conditions.
Bottom Line
Institutional adjustments in major pharmaceutical holdings offer a window into portfolio rebalancing trends. Market participants will monitor upcoming earnings results on October 30, 2026, for further guidance on pipeline performance and revenue trajectories.
Related Filing Alerts
Source: Sumitomo Mitsui DS Asset Management Company's 13F filing on $ABBV (Oct 20, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts