AbbVie (NYSE:ABBV) Trading Up 1.6% After Dividend Announcement

AbbVie Inc. (NYSE:ABBV)’s stock price shot up 1.6% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $255.31 and last traded at $254.9960. 4,392,954 shares were traded during trading, a decline of 34% from the average daily volume of 6,649,387 shares. The stock had previously closed at $250.91.

The newly announced dividend which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, October 15th. AbbVie’s payout ratio is presently 195.48%.

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. Cantor Fitzgerald upped their target price on AbbVie from $265.00 to $285.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Barclays boosted their price objective on AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Evercore set a $235.00 price objective on AbbVie in a research note on Friday, May 15th. Royal Bank Of Canada increased their target price on AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Finally, UBS Group raised their target price on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $276.64.

AbbVie Stock Up 0.8%

The firm’s 50 day simple moving average is $254.46 and its 200 day simple moving average is $230.94. The company has a market cap of $454.36 billion, a price-to-earnings ratio of 72.65, a price-to-earnings-growth ratio of 1.15 and a beta of 0.29.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping 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 business 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 earnings per share. The business’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 anticipate that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Positive Phase 3 menstrual-migraine results: Atogepant met the primary and secondary endpoints in the LUNA late-stage study, demonstrating reductions in menstrual migraine days along with positive safety and efficacy results. The data could support regulatory expansion of Qulipta into an indication with no specifically approved targeted therapies, potentially broadening AbbVie’s migraine franchise. AbbVie’s Atogepant Meets Goal in Late-Stage Menstrual Migraine Study
• Positive Sentiment: Potentially more flexible treatment use: The results support intermittent preventive treatment around menstruation, which could expand Qulipta’s addressable market beyond continuous daily migraine prevention. Investors view the outcome as evidence of continued momentum in AbbVie’s migraine business. AbbVie Gains as Qulipta Opens a New Migraine Market
• Positive Sentiment: Additional pipeline catalyst: AbbVie completed its ECLIPSE migraine trial, setting up another potential data milestone for the company’s migraine portfolio. A favorable outcome could further strengthen its competitive position in the CGRP market.
• Neutral Sentiment: Dividend maintained: AbbVie declared a quarterly dividend of $1.73 per share, payable November 16 to shareholders of record October 15. The declaration reinforces the income appeal of ABBV but does not represent a new increase in the payout.
• Neutral Sentiment: Analyst confidence remains favorable: HSBC raised its price target to $315 from $300 while maintaining a Buy rating, reflecting optimism about AbbVie’s newer growth products and pipeline.
• Negative Sentiment: Ongoing concentration concerns: Investors continue to monitor AbbVie’s reliance on Skyrizi and Rinvoq to offset Humira’s patent-related decline. The stock’s elevated valuation also leaves less room for disappointment if pipeline launches or immunology growth slow.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the 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 completion of the transaction, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On AbbVie

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in shares of AbbVie by 25,250.3% during the second quarter. California State Teachers Retirement System now owns 679,435,549 shares of the company’s stock valued at $170,973,162,000 after acquiring an additional 676,755,361 shares during the period. State Street Corp lifted its position in AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after purchasing an additional 1,119,274 shares during the period. Geode Capital Management LLC lifted its position in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the period. Bank of America Corp DE boosted its stake in AbbVie by 1.4% during the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after purchasing an additional 356,394 shares in the last quarter. Finally, Norges Bank bought a new position in AbbVie during the 4th quarter valued at $5,865,055,000. Institutional investors own 70.23% of the company’s stock.

About AbbVie

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott’s diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie’s immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.