AbbVie (NYSE:ABBV) Shares Up 3.7% - Should You Buy?

Key Points

• AbbVie shares rose 3.7% on Thursday, trading well above average volume, as investors reacted positively to recent company news. The stock touched an intraday high of $244.61 after closing at $234.89 the prior session.
• Sentiment around AbbVie’s Apogee acquisition remains a major driver, with Canaccord and other analysts saying the deal could strengthen the company’s long-term growth outlook and add a de-risked immunology asset. Some investors, however, are still concerned about the $10.9 billion price tag and whether the transaction will create enough value.
• AbbVie also got a boost from EU approval for Skyrizi in pediatric plaque psoriasis, which expands the drug’s market opportunity and supports its immunology franchise. The company recently beat quarterly earnings and revenue estimates, and it continues to offer a dividend yield of about 2.8%.

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares traded up 3.7% on Thursday . The company traded as high as $244.61 and last traded at $243.6470. 10,161,633 shares traded hands during trading, an increase of 49% from the average session volume of 6,812,379 shares. The stock had previously closed at $234.89.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Canaccord lifted its price target and said the Apogee acquisition strengthens AbbVie’s long-term growth outlook, signaling analyst confidence in the strategic fit of the deal. Canaccord Says AbbVie’s (ABBV) Apogee Deal Strengthens Long-Term Growth Outlook
• Positive Sentiment: AbbVie’s acquisition of Apogee is being highlighted as a potential blockbuster move that could add a de-risked, revenue-producing immunology asset to the pipeline. Is AbbVie a Buy After Its Purchase of Apogee?
• Positive Sentiment: AbbVie also received a boost from a new EU approval for Skyrizi in pediatric plaque psoriasis, which expands the drug’s addressable market and supports its immunology franchise. AbbVie Gets EU Nod for Skyrizi in Pediatric Plaque Psoriasis
• Neutral Sentiment: AbbVie’s Allergan Aesthetics unit earned Top 50 Status for 2026 from a partner, which is positive for brand momentum but likely not a major stock catalyst on its own. Formula Wellness Earns Top 50 Status for 2026 from Allergan Aesthetics
• Neutral Sentiment: AbbVie expanded its pipeline with a new early-stage bretisilocin safety study, but the trial is still in the early phase and should have limited near-term financial impact. AbbVie Expands Pipeline With New Bretisilocin Phase 1 Safety Study
• Negative Sentiment: Some investors remain cautious about the size and price tag of the Apogee deal, with debate over whether AbbVie will create enough value to justify the $10.9 billion acquisition. AbbVie (ABBV) Stock Draws Fresh Price Target Split After Apogee Deal

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Guggenheim reiterated a "buy" rating and set a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AbbVie in a research note on Monday, June 8th. Canaccord Genuity Group increased their target price on AbbVie from $265.00 to $273.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Evercore set a $235.00 target price on AbbVie in a report on Friday, May 15th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and a consensus price target of $253.81.

AbbVie Trading Up 3.7%

The stock has a market cap of $430.47 billion, a price-to-earnings ratio of 120.02, a P/E/G ratio of 0.72 and a beta of 0.32. The company has a 50 day simple moving average of $213.64 and a 200-day simple moving average of $218.83.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.72 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. AbbVie's revenue for the quarter was up 12.4% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be paid a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. AbbVie's dividend payout ratio (DPR) is currently 340.89%.

Institutional Investors Weigh In On AbbVie

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company's stock valued at $41,306,353,000 after buying an additional 3,032,438 shares during the last quarter. State Street Corp increased its holdings in shares of AbbVie by 1.4% during the 4th quarter. State Street Corp now owns 80,940,931 shares of the company's stock worth $18,494,193,000 after acquiring an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC raised its stake in AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares during the period. Bank of America Corp DE raised its stake in AbbVie by 1.4% in the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company's stock valued at $5,900,617,000 after acquiring an additional 356,394 shares during the period. Finally, Norges Bank acquired a new stake in AbbVie during the 4th quarter valued at $5,865,055,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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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