AbbVie (NYSE:ABBV) Stock Price Down 1% – Here’s What Happened

Shares of AbbVie Inc. (NYSE:ABBV) fell 1% on Thursday . The company traded as low as $241.20 and last traded at $243.6380. Approximately 4,257,962 shares were traded during mid-day trading, a decline of 39% from the average session volume of 7,008,278 shares. The stock had previously closed at $246.20.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. UBS Group boosted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Barclays raised their target price on shares of AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. HSBC reaffirmed a “buy” rating and issued a $300.00 price target on shares of AbbVie in a report on Monday, July 6th. Wells Fargo & Company increased their price target on shares of AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, Bank of America raised their price objective on shares of AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $275.70.

AbbVie Price Performance

The stock has a market cap of $434.31 billion, a price-to-earnings ratio of 69.44, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The stock’s 50-day moving average is $241.96 and its 200-day moving average is $224.96.

AbbVie (NYSE:ABBV) last issued its quarterly 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. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the previous year, the firm 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. Analysts predict that AbbVie Inc. will post 14.06 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.8%. AbbVie’s dividend payout ratio is 195.48%.

Institutional Trading of AbbVie

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Litman Gregory Wealth Management LLC purchased a new position in AbbVie during the fourth quarter worth approximately $28,000. Imprint Wealth LLC raised its position in shares of 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 during the period. Legacy Wealth Managment LLC ID grew its position in AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 73 shares during the period. IFC & Insurance Marketing Inc. acquired a new stake in AbbVie during the fourth quarter worth about $31,000. Finally, WestEnd Advisors LLC raised its holdings in shares of AbbVie by 160.4% in the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors 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.