AbbVie (NYSE:ABBV) Trading 2.6% Higher – What’s Next?

Shares of AbbVie Inc. (NYSE:ABBV) rose 2.6% during mid-day trading on Wednesday . The stock traded as high as $266.97 and last traded at $265.63. 5,440,532 shares were traded during trading, a decline of 21% from the average daily volume of 6,880,757 shares. The stock had previously closed at $258.92.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABBV. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 5th. Evercore set a $235.00 price target on AbbVie in a research note on Friday, May 15th. Wolfe Research raised AbbVie from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, August 13th. Barclays upped their price objective on shares of AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Bank of America increased their price objective on shares of AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $275.95.

AbbVie Stock Performance

The stock has a market capitalization of $469.29 billion, a PE ratio of 75.03, a price-to-earnings-growth ratio of 0.88 and a beta of 0.30. The stock’s 50 day moving average is $247.72 and its two-hundred day moving average is $227.22.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter last year, the firm posted $2.97 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Equities research analysts expect that AbbVie Inc. will post 14.07 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 32,710 shares of AbbVie stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Trading of AbbVie

Hedge funds and other institutional investors have recently bought and sold shares of the business. Safeguard Investment Advisory Group LLC boosted its position in AbbVie by 4.6% in the 2nd quarter. Safeguard Investment Advisory Group LLC now owns 1,780 shares of the company’s stock valued at $448,000 after buying an additional 79 shares during the last quarter. Nykredit A S acquired a new position in shares of AbbVie in the 2nd quarter valued at $161,190,000. EMC Capital Management bought a new position in shares of AbbVie in the 2nd quarter worth $267,000. MBA Advisors LLC grew its stake in shares of AbbVie by 2.8% during the second quarter. MBA Advisors LLC now owns 5,970 shares of the company’s stock worth $1,502,000 after purchasing an additional 163 shares during the period. Finally, PYA Waltman Capital LLC grew its stake in shares of AbbVie by 36.0% during the second quarter. PYA Waltman Capital LLC now owns 28,844 shares of the company’s stock worth $7,258,000 after purchasing an additional 7,641 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Company 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.