Sumitomo Life Insurance Co. Acquires New Stake in AbbVie Inc. $ABBV

Key Points

• Sumitomo Life Insurance acquired 19,641 AbbVie shares worth approximately $4.94 million in the second quarter. Institutional investors collectively own 70.23% of the company, with several other funds also increasing their positions.
• AbbVie’s latest quarterly results exceeded expectations, with EPS of $3.65 and revenue of $16.99 billion, up 10.2% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $275.95.
• AbbVie shares opened at $259.87, near their 52-week high, while the company paid a quarterly dividend of $1.73 per share. An executive vice president separately sold 32,710 shares for approximately $8.18 million.

Sumitomo Life Insurance Co. acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,641 shares of the company's stock, valued at approximately $4,942,000.

Several other hedge funds have also added to or reduced their stakes in ABBV. Brighton Jones LLC raised its position in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. grew its position in AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock valued at $3,056,000 after purchasing an additional 789 shares during the last quarter. Ieq Capital LLC grew its position in AbbVie by 4.6% during the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock valued at $22,281,000 after purchasing an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its stake in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock valued at $210,685,000 after purchasing an additional 612,702 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares of the company's stock, valued at $18,607,500. This represents a 30.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company's stock.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Allergan Aesthetics, an AbbVie company, launched SkinMedica Barrier Calming Cream and introduced HA 5 Hydra Collagen Facial Mist. Clinical testing reportedly showed a 30% reduction in skin dryness after two weeks, supporting AbbVie’s aesthetics and consumer-health growth strategy. SkinMedica Adds Barrier Calming Cream
• Positive Sentiment: AbbVie is cited as a potential beneficiary of an aging population, with its immunology portfolio positioned to capture long-term healthcare demand. Aging Population Drives Healthcare Growth
• Neutral Sentiment: AbbVie will present at the Wells Fargo Healthcare Conference on September 9. The event could provide updates on its pipeline, Humira replacement products and financial outlook, but no new information was announced yet. AbbVie Wells Fargo Healthcare Conference
• Neutral Sentiment: Investors are largely waiting for AbbVie’s next earnings update, leaving the stock without a major new near-term catalyst. AbbVie Stock Holds Steady
• Neutral Sentiment: New 340B-related court developments could affect drug-company pricing and reimbursement, but the article does not identify a specific immediate impact on AbbVie. 340B Court Updates
• Negative Sentiment: Erste Group Bank reduced its fiscal 2026 EPS estimate for AbbVie, signaling somewhat more cautious expectations for earnings growth. AbbVie FY2026 EPS Estimates Reduced

AbbVie Stock Up 1.3%

Shares of NYSE ABBV opened at $259.87 on Wednesday. The firm's 50-day moving average price is $253.69 and its 200-day moving average price is $229.43. The company has a market cap of $459.14 billion, a PE ratio of 73.41, a PEG ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $267.47.

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

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were paid a dividend of $1.73 per share. 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%.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. Citigroup upped their target price on shares of AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Cantor Fitzgerald raised their price target on shares of AbbVie from $265.00 to $285.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Sanford C. Bernstein restated a "market perform" rating on shares of AbbVie in a report on Tuesday, June 23rd. Canaccord Genuity Group upped their price objective on AbbVie from $282.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada increased their target price on AbbVie from $260.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $275.95.

AbbVie Profile

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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