AbbVie (NYSE:ABBV) Trading Up 3.5% - Still a Buy?

Key Points

• AbbVie shares rose 3.5% to about $259, outperforming their previous close, with trading volume below the daily average.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $275.73; recent targets range up to $300.
• AbbVie exceeded quarterly earnings and revenue expectations, with EPS of $3.65 and revenue of $16.99 billion, while paying a quarterly dividend of $1.73 per share for a 2.7% yield.

AbbVie Inc. (NYSE:ABBV - Get Free Report) traded up 3.5% during trading on Tuesday . The stock traded as high as $259.18 and last traded at $259.0150. Approximately 4,857,377 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 6,879,876 shares. The stock had previously closed at $250.33.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ABBV. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 5th. UBS Group raised their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. HSBC reaffirmed a "buy" rating and set a $300.00 price objective on shares of AbbVie in a research report on Monday, July 6th. Citigroup upped their target price on AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, Canaccord Genuity Group increased their target price on AbbVie from $282.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $275.73.

AbbVie Stock Performance

The stock's 50-day moving average price is $245.49 and its two-hundred day moving average price is $226.35. The stock has a market capitalization of $457.63 billion, a PE ratio of 73.17, a P/E/G ratio of 0.83 and a beta of 0.30.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The company had revenue of $16.99 billion during the quarter, compared to analysts' expectations of $16.80 billion. During the same period last year, the company posted $2.97 EPS. AbbVie's revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, analysts predict that AbbVie Inc. will post 14.07 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie's payout ratio is currently 195.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. Livforsakringsbolaget Skandia Omsesidigt grew its position in AbbVie by 7.6% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 167,270 shares of the company's stock valued at $42,018,000 after purchasing an additional 11,800 shares during the last quarter. Rakuten Investment Management Inc. raised its holdings in AbbVie by 10.2% in the second quarter. Rakuten Investment Management Inc. now owns 289,091 shares of the company's stock worth $73,519,000 after buying an additional 26,793 shares during the last quarter. RB Capital Management LLC lifted its stake in shares of AbbVie by 1.4% in the second quarter. RB Capital Management LLC now owns 15,124 shares of the company's stock worth $3,806,000 after buying an additional 208 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of AbbVie in the second quarter worth approximately $2,085,000. Finally, Glenview Trust Co purchased a new stake in shares of AbbVie during the second quarter valued at approximately $91,619,000. 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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