AbbVie (NYSE:ABBV) Stock Price Up 1.3% - What's Next?

Key Points

• AbbVie shares rose 1.3% to $259.87 in mid-day trading, while volume was 44% below the average session volume.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $275.95; Barclays and HSBC set targets of $300.
• AbbVie exceeded quarterly expectations, reporting $3.65 in EPS and $16.99 billion in revenue, up 10.2% year over year. The company also paid a quarterly dividend of $1.73 per share, though its payout ratio was elevated at 195.48%.

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price traded up 1.3% on Tuesday . The stock traded as high as $262.27 and last traded at $259.87. Approximately 3,804,536 shares were traded during mid-day trading, a decline of 44% from the average session volume of 6,734,232 shares. The stock had previously closed at $256.42.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ABBV shares. Barclays lifted their target price on AbbVie from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Bank of America increased their price target 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. Sanford C. Bernstein restated a "market perform" rating on shares of AbbVie in a report on Tuesday, June 23rd. HSBC reaffirmed a "buy" rating and set a $300.00 price objective on shares of AbbVie in a research report on Monday, July 6th. Finally, Citigroup upped their price target on AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $275.95.

AbbVie Price Performance

The firm has a market capitalization of $459.14 billion, a price-to-earnings ratio of 73.41, a price-to-earnings-growth ratio of 0.85 and a beta of 0.30. The business has a 50 day moving average of $253.20 and a 200 day moving average of $229.16.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.04. The business had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm's revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the sale, the executive vice president directly owned 74,430 shares of the company's stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AbbVie

Large investors have recently bought and sold shares of the business. Brighton Jones LLC increased its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after buying an additional 3,401 shares during the period. Revolve Wealth Partners LLC increased its position in AbbVie by 72.7% in 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 during the period. Schnieders Capital Management LLC. lifted its position in AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock valued at $3,056,000 after purchasing an additional 789 shares during the period. Ieq Capital LLC boosted its stake in shares of AbbVie by 4.6% in the 2nd 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 last quarter. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of AbbVie by 117.3% in 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 during the last quarter. 70.23% of the stock is currently 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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