AbbVie (NYSE:ABBV) Stock Price Up 3.4% - Here's What Happened

Key Points

• AbbVie shares rose 3.4% on Friday, trading as high as $253.35 amid a surge in volume that was far above average.
• Positive company news helped lift sentiment, including FDA approval of Skyrizi for pediatric psoriatic disease and favorable analyst reaction to AbbVie’s Apogee Therapeutics acquisition, which is seen as supporting long-term growth.
• Wall Street remains constructive on ABBV, with multiple upgrades and an average price target of $253.81, while the company also continues to benefit from healthcare-sector strength and recent record highs.

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares traded up 3.4% during mid-day trading on Friday . The company traded as high as $253.35 and last traded at $251.52. 52,480,576 shares were traded during mid-day trading, an increase of 636% from the average daily volume of 7,134,102 shares. The stock had previously closed at $243.14.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie said the FDA approved Skyrizi for pediatric use in psoriatic disease, making it the first and only IL-23 inhibitor in the U.S. approved for children six years and older weighing less than 40 kg with plaque psoriasis or psoriatic arthritis. The expansion broadens the drug’s addressable market and supports long-term sales growth. Article: SKYRIZI® (risankizumab-rzaa) Now FDA Approved for Pediatric Use in Psoriatic Disease
• Positive Sentiment: AbbVie’s Apogee Therapeutics acquisition is being viewed favorably by analysts, with Canaccord raising its price target and saying the deal strengthens AbbVie’s long-term growth outlook by adding promising pipeline assets. Article: AbbVie Just Sparked a 46% Rally in Apogee. Here’s Why This $10.9 Billion Deal Could Be a Win for AbbVie Investors.
• Positive Sentiment: AbbVie is also benefiting from broader healthcare sector strength, with shares hitting new highs as investors rotate into defensive large-cap pharma names. Article: Lilly, J&J, AbbVie hit all-time highs as healthcare outperforms
• Neutral Sentiment: AbbVie announced it will host its second-quarter 2026 earnings call on July 31, which is a standard investor update and does not by itself change fundamentals. Article: AbbVie to Host Second-Quarter 2026 Earnings Conference Call
• Neutral Sentiment: Commentary pieces also highlighted AbbVie’s recent pediatric label expansions in Europe for Skyrizi and Maviret, reinforcing the company’s shift toward earlier-disease and younger-patient growth opportunities. Article: Will AbbVie's (ABBV) Pediatric Expansions Reveal a Deeper Shift in Its Growth Mix?

Wall Street Analysts Forecast Growth

A number of analysts have commented on ABBV shares. Cantor Fitzgerald restated an "overweight" rating on shares of AbbVie in a research note on Tuesday. Wells Fargo & Company set a $260.00 target price on shares of AbbVie in a research report on Monday. Morgan Stanley upped their target price on shares of AbbVie from $270.00 to $278.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. DZ Bank raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, Bank of America upgraded AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 price target for the company in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and an average price target of $253.81.

AbbVie Trading Up 3.4%

The stock has a market capitalization of $444.38 billion, a PE ratio of 123.90, a P/E/G ratio of 0.72 and a beta of 0.32. The stock's fifty day simple moving average is $214.30 and its 200-day simple moving average is $218.96.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 14.29 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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

Hedge Funds Weigh In On AbbVie

Several institutional investors have recently modified their holdings of the business. Chelsea Counsel Co. bought a new stake in shares of AbbVie during the 3rd quarter worth $26,000. Litman Gregory Wealth Management LLC bought a new position in AbbVie during the fourth quarter valued at about $28,000. Imprint Wealth LLC grew its position in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock valued at $29,000 after buying an additional 45 shares during the period. Westend Capital Management LLC purchased a new stake in AbbVie during the fourth quarter worth about $29,000. Finally, IFC & Insurance Marketing Inc. bought a new stake in AbbVie in the fourth quarter worth about $31,000. 70.23% of the stock is owned by institutional investors.

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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