Fayez Sarofim & Co Boosts Stock Position in AbbVie Inc. $ABBV

Key Points

• Fayez Sarofim & Co. increased its AbbVie position by 4.4% in the second quarter, bringing its holdings to 2.88 million shares valued at approximately $723.9 million. Institutional investors collectively own 70.23% of AbbVie.
• AbbVie reported stronger-than-expected quarterly results, with $3.65 in EPS and $16.99 billion in revenue, while reaffirming its 2026 earnings guidance. Growth from Skyrizi and Rinvoq, along with positive Phase 3 results for etentamig and the Apogee acquisition, may help offset ongoing Humira sales declines.
• Shares opened at $256.27, and analysts maintain a “Moderate Buy” consensus with an average price target of $275.95. AbbVie also pays a quarterly dividend of $1.73, equivalent to a 2.7% annualized yield.

Fayez Sarofim & Co raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,876,785 shares of the company's stock after acquiring an additional 120,529 shares during the quarter. AbbVie makes up 1.7% of Fayez Sarofim & Co's holdings, making the stock its 17th largest holding. Fayez Sarofim & Co owned about 0.16% of AbbVie worth $723,914,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in AbbVie in the 4th quarter worth about $5,865,055,000. Corient Private Wealth LP purchased a new stake in AbbVie in the 2nd quarter valued at about $559,736,000. Legal & General Group Plc bought a new position in AbbVie in the 2nd quarter worth about $2,905,952,000. Wellington Management Group LLP grew its stake in AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company's stock worth $2,439,714,000 after acquiring an additional 8,646,424 shares in the last quarter. Finally, Capital World Investors increased its position in shares of AbbVie by 106.3% during the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company's stock worth $2,986,777,000 after acquiring an additional 6,736,161 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the sale, the executive vice president directly owned 74,430 shares of the company's stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Etentamig delivers a major Phase 3 win: AbbVie said its investigational BCMA x CD3 therapy met both primary endpoints in the CERVINO trial for relapsed/refractory multiple myeloma. Etentamig produced a 74% objective response rate versus 45.7% for standard therapies and reduced the risk of disease progression or death by 60%. The results could support a regulatory submission and give AbbVie an opportunity to compete in the growing BCMA-targeted treatment market. AbbVie Announces Positive Topline Results from the Phase 3 CERVINO Trial
• Positive Sentiment: Apogee acquisition expands immunology pipeline: AbbVie completed its approximately $10.9 billion purchase of Apogee Therapeutics. The deal adds late-stage zumilokibart for atopic dermatitis and additional respiratory and inflammatory disease programs, potentially strengthening growth beyond Humira. AbbVie Completes Acquisition of Apogee Therapeutics
• Positive Sentiment: Growth products continue to offset Humira erosion: Skyrizi and Rinvoq remain key drivers, with reported second-quarter sales growth of 24% and 25%, respectively. AbbVie’s established dividend record and broader pipeline also support the long-term investment case.
• Neutral Sentiment: Financial guidance was reaffirmed: AbbVie maintained its 2026 adjusted EPS outlook of $13.87–$14.07 and third-quarter guidance of $3.84–$3.88. However, the Apogee transaction is expected to dilute earnings initially before becoming accretive later in the decade. AbbVie Completes Acquisition of Apogee Therapeutics
• Negative Sentiment: Humira remains a significant headwind: The flagship drug’s revenue continues to fall following biosimilar competition, raising questions about how quickly newer products can replace the lost cash flow and support future dividend growth.

AbbVie Trading Down 1.5%

Shares of NYSE ABBV opened at $256.27 on Friday. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47. The stock's fifty day simple moving average is $254.66 and its two-hundred day simple moving average is $230.06. The stock has a market capitalization of $452.78 billion, a PE ratio of 72.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. The firm had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, equities analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were issued a $1.73 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. AbbVie's payout ratio is currently 195.48%.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on shares of AbbVie from $295.00 to $300.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Weiss Ratings raised AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. HSBC restated a "buy" rating and set a $300.00 price objective on shares of AbbVie in a report on Monday, July 6th. Citigroup lifted their target price on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $296.00 target price on shares of AbbVie in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $275.95.

About AbbVie

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.

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