Suncoast Equity Management Makes New $1.37 Million Investment in AbbVie Inc. $ABBV

Posted by Stanley Muller on Aug 23rd, 2026

Suncoast Equity Management acquired a new position in AbbVie Inc. (NYSE:ABBV – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,438 shares of the company’s stock, valued at approximately $1,368,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Brighton Jones LLC raised its position in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of AbbVie by 72.7% during the fourth 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. boosted its position in shares of AbbVie by 5.0% in the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after buying an additional 789 shares during the period. Ieq Capital LLC boosted its position in shares of AbbVie by 4.6% in the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after buying an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of AbbVie by 117.3% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after buying an additional 612,702 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

Positive Sentiment: New lung-cancer data supports AbbVie’s long-term growth strategy. At the 2026 World Conference on Lung Cancer, AbbVie presented clinical, translational and real-world data for investigational programs including ABBV-1480, telisotuzumab adizutecan and ABBV-706 across non-small cell and small cell lung cancer. The updates highlight potential future oncology revenue sources beyond the company’s established immunology portfolio. AbbVie WCLC 2026 announcement
Positive Sentiment: AbbVie is broadening its aesthetics pipeline. The company has initiated a Phase 2 study evaluating a treatment for forehead lines, adding another potential product to its aesthetics franchise and reinforcing efforts to diversify growth. AbbVie aesthetics pipeline update
Neutral Sentiment: AbbVie’s relatively low market correlation reflects its defensive pharmaceutical revenue base. Investor performance is driven more by product demand, reimbursement and payer dynamics than by broad equity-market movements. This may help explain the stock’s resilience, but the article does not identify a new earnings catalyst. What Moves AbbVie Stock
Neutral Sentiment: AbbVie recently reported quarterly EPS and revenue above consensus, with revenue rising 10.2% year over year, and guided to third-quarter EPS of $3.84–$3.88. Analysts’ average price target of $275.73 remains above the current trading level, although the stock’s elevated valuation raises expectations. AbbVie stock and earnings information
Negative Sentiment: An early end to a long-term emraclidine schizophrenia study introduces uncertainty. Investors may question the implications for AbbVie’s neuroscience pipeline and the program’s development prospects until the company provides additional details. AbbVie emraclidine study update
Negative Sentiment: An executive vice president sold approximately $8.18 million of ABBV shares, reducing his position by about 30.5%. The sale may weigh modestly on sentiment, although insider transactions can reflect personal financial planning rather than a change in business outlook. AbbVie insider sale

Insider Activity

In other 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 transaction, the executive vice president owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABBV shares. Citigroup raised their target price on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $296.00 price objective on shares of AbbVie in a research report on Monday, August 3rd. Piper Sandler lifted their price objective on shares of AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore set a $235.00 target price on shares of AbbVie in a research report on Friday, May 15th. Finally, Barclays upped their target price on shares of AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. 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 data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $275.95.

Read Our Latest Stock Analysis on ABBV

AbbVie Trading Up 1.4%

ABBV stock opened at $265.62 on Friday. The firm has a 50 day simple moving average of $248.48 and a 200-day simple moving average of $227.49. The company has a market capitalization of $469.29 billion, a P/E ratio of 75.03, a PEG ratio of 0.88 and a beta of 0.30. AbbVie Inc. has a twelve month low of $190.75 and a twelve month high of $267.47.

AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm had revenue of $16.99 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same period in the prior year, the company posted $2.97 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, research analysts predict that AbbVie Inc. will post 14.06 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Wednesday, July 15th. AbbVie’s dividend payout ratio is 195.48%.

About AbbVie

(Free Report)

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.