AbbVie (NYSE:ABBV) Stock Price Down 1% - Time to Sell?

Key Points

• AbbVie shares fell 1% to $263.08 on below-average trading volume, but remain above their 50-day and 200-day moving averages.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and a $275.95 price target, implying further upside.
• The company exceeded quarterly earnings and revenue estimates, while paying a $1.73 quarterly dividend; however, its 195.48% payout ratio and recent insider share sale are potential caution points.

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s stock price dropped 1% on Wednesday . The stock traded as low as $260.31 and last traded at $263.08. 3,288,654 shares traded hands during trading, a decline of 52% from the average daily volume of 6,798,994 shares. The stock had previously closed at $265.79.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent analyst reports. Erste Group Bank raised shares of AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Bank of America upped their price objective on shares of AbbVie from $234.00 to $276.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Canaccord Genuity Group increased their target price on shares of AbbVie from $282.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. UBS Group lifted their price target on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada increased their price target on AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.95.

AbbVie Stock Down 1.0%

The company's 50-day moving average price is $250.20 and its 200-day moving average price is $228.12. The firm has a market cap of $464.81 billion, a price-to-earnings ratio of 74.32, a price-to-earnings-growth ratio of 0.88 and a beta of 0.30.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.04. The firm had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Analysts predict that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were issued a dividend of $1.73 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.6%. AbbVie's dividend payout ratio is presently 195.48%.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president owned 74,430 shares in the company, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On AbbVie

Several hedge funds and other institutional investors have recently modified their holdings of the business. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $28,000. Imprint Wealth LLC lifted its position in AbbVie by 56.2% during the fourth 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. Burk Holdings LLC purchased a new position in AbbVie during the second quarter worth approximately $30,000. Legacy Wealth Managment LLC ID boosted its stake in AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock worth $31,000 after buying an additional 73 shares during the last quarter. Finally, IFC & Insurance Marketing Inc. purchased a new stake in AbbVie in the 4th quarter valued at $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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