AbbVie (NYSE:ABBV) Stock Price Down 3% – Here’s Why

Shares of AbbVie Inc. (NYSE:ABBV) fell 3% during trading on Tuesday . The stock traded as low as $248.41 and last traded at $248.7480. Approximately 5,139,733 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 6,664,852 shares. The stock had previously closed at $256.46.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ABBV shares. Barclays upped their price target 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. Citigroup boosted their target price on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Piper Sandler lifted their price target on shares of AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Finally, Wells Fargo & Company boosted their price target on AbbVie from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.95.

AbbVie Stock Performance

The stock has a market capitalization of $439.49 billion, a PE ratio of 70.27, a PEG ratio of 1.16 and a beta of 0.29. The business has a 50 day moving average of $254.71 and a two-hundred day moving average of $230.21.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS 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 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 quarter in the prior year, the business posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, equities analysts expect that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 195.48%.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction on 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 transaction, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On AbbVie

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. Nykredit A S acquired a new position in AbbVie during the second quarter worth about $150,038,000. Parkside Financial Bank & Trust grew its position in shares of AbbVie by 2.2% in the second quarter. Parkside Financial Bank & Trust now owns 29,261 shares of the company’s stock valued at $7,363,000 after purchasing an additional 630 shares in the last quarter. Kinetic Wealth Investment Advisors LLC acquired a new stake in shares of AbbVie in the second quarter valued at approximately $298,000. Range Advisory LLC lifted its position in AbbVie by 88.9% during the second quarter. Range Advisory LLC now owns 5,721 shares of the company’s stock worth $1,440,000 after buying an additional 2,692 shares in the last quarter. Finally, Capital & Planning LLC lifted its position in AbbVie by 21.5% during the second quarter. Capital & Planning LLC now owns 19,416 shares of the company’s stock worth $4,886,000 after buying an additional 3,430 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.