AbbVie (NYSE:ABBV) Stock Price Up 3.9% - Time to Buy?

Key Points

• AbbVie shares rose 3.9% on Thursday, with the stock trading as high as $261.64 after closing at $251.06 the prior day. Trading volume came in below average.
• Recent company updates were largely positive, including encouraging CoolSculpting Elite post-market study results and strong venetoclax data in chronic lymphocytic leukemia, both of which support AbbVie’s growth outlook.
• AbbVie continues to look attractive to income-focused investors, backed by a quarterly dividend of $1.73 per share and a 2.7% yield, while analysts overall still rate the stock a Moderate Buy.

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price shot up 3.9% on Thursday . The company traded as high as $261.64 and last traded at $260.8780. 6,793,011 shares traded hands during trading, a decline of 6% from the average session volume of 7,207,927 shares. The stock had previously closed at $251.06.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie said its ongoing post-market study for CoolSculpting Elite showed encouraging results, strengthening the outlook for its aesthetics business and suggesting the franchise could remain a meaningful growth driver. AbbVie’s CoolSculpting Elite Study Update Strengthens Aesthetics Outlook
• Positive Sentiment: AbbVie was highlighted in dividend-focused commentary as one of the market’s more reliable income stocks, reinforcing the investment case around its strong cash flow, defensive profile, and shareholder returns. 3 Dividend Stocks to Buy Hand Over Fist in July
• Positive Sentiment: Recent coverage also pointed to AbbVie’s venetoclax data in chronic lymphocytic leukemia as another sign that the company’s core pharmaceutical pipeline remains productive, supporting long-term earnings visibility. AbbVie Inc. (ABBV) Hits New Milestone with Venetoclax on Chronic Lymphocytic Leukemia (CLL) Treatment
• Neutral Sentiment: Analysts and comparison pieces this week largely framed AbbVie as a strong long-term healthcare name versus peers like Johnson & Johnson, but these were more valuation and portfolio discussions than fresh company-specific catalysts. J&J or AbbVie: Which Stock Deserves a Place in Your Portfolio Now?
• Negative Sentiment: One analyst note trimmed its FY2027 EPS estimate slightly, which is a mild headwind, though the change was small and did not materially alter the broader earnings outlook for AbbVie. Erste Group Bank cuts AbbVie FY2027 EPS estimate

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler reiterated an "overweight" rating and set a $298.00 target price on shares of AbbVie in a research report on Tuesday, June 23rd. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of AbbVie in a research note on Tuesday, June 23rd. Morgan Stanley increased their price objective on shares of AbbVie from $270.00 to $278.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. William Blair restated an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. Finally, Canaccord Genuity Group upped their price target on shares of AbbVie from $265.00 to $273.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Three equities research 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. According to data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $253.81.

AbbVie Stock Performance

The business has a fifty day moving average price of $217.86 and a 200 day moving average price of $219.76. The company has a market capitalization of $460.92 billion, a PE ratio of 128.51, a P/E/G ratio of 0.83 and a beta of 0.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. Research analysts forecast that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie's payout ratio is currently 340.89%.

Hedge Funds Weigh In On AbbVie

Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its position 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. lifted its position in shares of AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock worth $3,056,000 after purchasing an additional 789 shares in the last quarter. Ieq Capital LLC boosted its stake in shares of AbbVie by 4.6% in the second quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock valued at $22,281,000 after purchasing an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its holdings in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock valued at $210,685,000 after purchasing an additional 612,702 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.

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