AbbVie (NYSE:ABBV) Stock Price Up 6.3% - Should You Buy?

Key Points

• AbbVie stock rose 6.3% on Monday, reaching as high as $232.32 as trading volume jumped well above average. The move came alongside a broader burst of investor interest in the shares.
• The main catalyst was AbbVie’s agreement to buy Apogee Therapeutics for $135.11 per share in cash, a deal valued at about $10.9 billion. The acquisition expands AbbVie’s immunology and inflammation pipeline with late-stage assets for atopic dermatitis and asthma.
• Analysts remain constructive on AbbVie’s growth outlook, citing support from Skyrizi, Rinvoq and the new pipeline additions. The stock currently carries a consensus “Moderate Buy” rating with a target price of $253.43.

AbbVie Inc. (NYSE:ABBV - Get Free Report) was up 6.3% on Monday . The stock traded as high as $232.32 and last traded at $230.10. Approximately 9,701,473 shares were traded during trading, an increase of 44% from the average session volume of 6,755,820 shares. The stock had previously closed at $216.49.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie agreed to buy Apogee Therapeutics for $135.11 per share in cash, expanding its immunology and inflammation portfolio with late-stage assets in atopic dermatitis and asthma. Reuters: AbbVie strikes $10.9 billion deal for Apogee Therapeutics
• Positive Sentiment: The acquisition gives AbbVie access to Apogee’s long-acting autoimmune candidates, including the IL-13 drug zumilokibart, which could become an important next-generation growth driver in immunology. Yahoo Finance: AbbVie to Acquire Apogee Therapeutics, Deepening Immunology Portfolio
• Positive Sentiment: Analysts and market commentary say the deal reinforces confidence in AbbVie’s post-Humira growth story, adding to recent momentum from Skyrizi, Rinvoq, and other pipeline wins. Quiver Quantitative: AbbVie gains as investors weigh stronger growth outlook and recent pipeline wins
• Neutral Sentiment: Separate coverage also highlighted that AbbVie’s Allergan Aesthetics unit recently won FDA approval for Skinvive by Juvederm for neck lines, adding another incremental positive, but this appears less central to today’s stock move. Yahoo Finance: AbbVie’s Allergan Aesthetics Wins FDA Approval for Skinvive by Juvederm

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of analyst reports. Guggenheim restated a "buy" rating and set a $249.00 price objective on shares of AbbVie in a research report on Friday, May 1st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $240.00 target price on shares of AbbVie in a report on Thursday, April 30th. Bank of America upgraded shares of AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 price target on the stock in a research note on Thursday, April 30th. BMO Capital Markets reissued an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. Finally, Canaccord Genuity Group raised their price objective on shares of AbbVie from $262.00 to $265.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Three 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $253.43.

AbbVie Trading Up 6.3%

The firm has a market cap of $406.54 billion, a price-to-earnings ratio of 113.35, a P/E/G ratio of 0.66 and a beta of 0.32. The firm has a 50 day moving average price of $212.18 and a 200-day moving average price of $218.72.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (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 for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, July 15th. AbbVie's dividend payout ratio is presently 340.89%.

Institutional Trading of AbbVie

A number of institutional investors and hedge funds have recently bought and sold shares of ABBV. Bank of Jackson Hole Trust boosted its stake in shares of AbbVie by 0.6% in the fourth quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company's stock valued at $1,648,000 after purchasing an additional 44 shares during the period. Eclectic Associates Inc. ADV lifted its holdings in AbbVie by 0.8% in the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company's stock worth $1,337,000 after buying an additional 45 shares in the last quarter. Imprint Wealth LLC lifted its holdings in AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after buying an additional 45 shares in the last quarter. Hardin Capital Partners LLC boosted its position in AbbVie by 1.4% in the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company's stock valued at $759,000 after buying an additional 46 shares during the last quarter. Finally, Dogwood Wealth Management LLC boosted its position in AbbVie by 10.8% in the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company's stock valued at $108,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

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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